IRS 6050W LAW for Online Sales
It was coming one day, We have been paying taxes but a lot of people do not and they effect
everyone that does by cutting prices to 3.00 for a 12.99 item. There is not way a company
can stay in business making 1.00 in the retail market even with volume. So thank GOD!
PayPal will be sending out 1099K's
Starting in 2011, all U.S. payment providers including PayPal will be required by the IRS to report sales information about certain merchants to the IRS. We want to help you understand these changes.
- Applies to merchants receiving over $20,000 in gross sales volume AND 200 payments or more
- Applies only for sales beginning on January 1, 2011
Questions? Log in to your PayPal account or call 1-888-221-1161
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