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 PAYPAL - something you all should know >>

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Do you use paypal to receive payments?
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I receive payments another way
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Do not receive payments
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Posts : 220
Join date : 2009-06-14

PostSubject: PAYPAL - something you all should know >>   Thu Jan 20, 2011 3:40 pm

I received this email this afternoon and do not know if any of you know about this but I thought I should share it with you.

"Starting in 2011, all U.S. payment providers including PayPal will be required by the Internal Revenue Service (IRS) to report sales information to the IRS about certain customers who receive payments for the sale of goods or services through PayPal. We want to help you understand these changes.

* Applies to sellers receiving over $20,000 in gross payment volume AND over 200 payments
* Applies only for sales on or after January 1, 2011"

For those of you that are on sites like "inboxdollars, sendearnings, inboxpays, cashcrate, etc" it applies to you. They usually send their payments by check or by paypal. If you sell on ebay, or Etsy this applies big time.
Be careful.

Good Luck!

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