eBay Reporting Provision

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Posted By: Randall A.

http://www.freerepublic.com/focus/news/2033908/posts?page=8

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Posted By: jeffdrum

the government is going to get their (or more than their) share of the gig.

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Posted By: leon

I would think that if this goes into effect it will hurt Paypal's bottom line even more.....

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Posted By: paulstratton

I thought Dodd was against "warrantless surveillance".

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Posted By: Jodi Birkholm

I can't sell anything on eBay without accepting some form of online payment. My latest eBay account is under a year old, so this must be a fairly new rule. It bothers me to no end. Does anyone know how to circumvent this apparently mandatory inconvenience? Much appreciated.

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Posted By: B D

will counter respond with legal action and at least delay this as long as possible!

BcD

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Posted By: Richard Simon

Did it not state that if passed it won't go into effect until 2011?
Did it not state that only transactions of $10,000 or more would be reported?
==

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Posted By: Andrew S.

"Did it not state that only transactions of $10,000 or more would be reported?"


Transactions of $10,000 or more are already reported to the IRS by your bank. Most people simply don't realize it. Either via the Currency Reporting Act, or by Suspicious Activity Report.