Will the new tax laws return shows to the primary selling venue for cans?

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OhioCanGuy
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Re: Will the new tax laws return shows to the primary selling venue for cans?

#31

Post by OhioCanGuy »

Onefineday wrote: Mon Jan 17, 2022 3:21 pm It is hitting home now.

Currently Ebay is refusing to send me the money from some recent sales of mine putting the money on hold until I provide them with the information they are demanding so they can send me a 1099 as the recent sales topped the $600 threshold citing the new law put into place at the behest of 'Ol Joe.

I think the old days of being a "small fish" and therefore immune to the scrotiny (misspelling deliberate) of the IRS are over. With computers keeping track of virtually everything, and the current admin of the US govt. looking to hire tens of thousands of new agents to make sure we all "pay our fair share", I will wager there will be many people who buy cans at shows demanding written receipts for their can purchases of any significance.
OhioCanGuy wrote: Sat Jan 08, 2022 12:36 am Remember, with the IRS, you are guilty until you can prove yourself innocent.
Information as to how the new law applies to ebay: https://pages.ebay.com/seller-center/se ... _tb_a3__10
Man, what a PITA. What info are they wanting? SSN I assume.

I totally understand taxes are a huge reality in the USA. But double, triple, quadruple taxation just doesn't seem right. In OH, sales taxes are collected every time a particular car is sold. You buy it new, pay tax. Three years later, you sell it. The next guy pays tax on that transaction, etc. So if a car changes hands every three years, 12 years into it the same car has been taxed four times. Just doesn't seem right.


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foreigncanman
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Re: Will the new tax laws return shows to the primary selling venue for cans?

#32

Post by foreigncanman »

Regardless of anything when you get receipts in the future keep them and when you spend money at a show keep records of it. (if no receipts perhaps keep records of the bank withdrawal/ATM .) Obviously none of us have records from decades ago. Esnipe/auctionsnipe may have records going back years as well as ebay
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