"Housing Bill" Affects E-commerce Merchants

[Nerd Boy Inc]

Dear All,

A little tidbit of information. Probably does not affect a lot of us, but some of you will be affect by this:

<-----SNIP----->

Starting in 2011, the "bank or other company that processes" a
merchant's debit and credit card transactions must send the Internal
Revenue Service a form disclosing the dollar amount of payments the
merchant received on those cards each year.

<-----SNIP----->

To read the whole story:

http://www.asmallurl.com/Al

[d_host]

Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

I don't think this will affect anyone other than Joe Sixpack selling more than $20K/year on eBay. All of us "real businesses" already report our revenues to the IRS so nothing changes there one bit.

[JFancett]

Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

I don't think this will affect anyone other than Joe Sixpack selling more than $20K/year on eBay. All of us "real businesses" already report our revenues to the IRS so nothing changes there one bit.

Agreed. If you're going to be in business, you should be paying your taxes.

[spiderweave]

Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

Correct, if you should be paying taxes you should not have any issues