eBay Urges Sellers to Opt in to Paperless 1099-K Tax Forms

by: terry55

Probably because most sellers will get a 1099, even if federal didn't lower the requirements, a few states have. For me, its in hope ebay will issue it before the 31st so I can send it to my accountant. I go in the 1st week of Jan., do up my 4th quarter taxes and drop off all my paper work for the year. Only thing holding up filing my taxes is my 1099, once I get that, just have to sign and send in.

by: OhCalcutta

having us download the 1099 will save Ebay money-free up its printer printing zillions of 1099 and postage .
Also these days there are serious mail thefts,you may not want someone to get hold of your 1099.
Mailman can also be sloppy and misplace your form

by: Fruitylovesyou

No one steals a 1099, and the tax ids are masked except for a subset..people who want your mail want thick envelopes, branded marketplace boxes... Not bills or debts.


It'll be interesting how are they reporting themselves or payment processor on those forms

https://www.irs.gov/newsroom/form-1099-k-frequently-asked
-questions-filing

by: Snapped

“ having us download the 1099 will save Ebay money-free up its printer printing zillions of 1099 and postage .”

Yeah.  eBay seeking YOUR assistance trying to save THEM money - after ignoring over a decade of seller’s pleas (aka “noise”) for the same ‘consideration’.  Imagine that.

by: GetAGrip

Hey Sleezebay. I want a paper form so get off your lazy useless backside find an envelope and a stamp and mail it to me. For all the money you charge me over the year don't be so cheap. SEND ME THE FORM.

by: Opalie

Yep. I want to hard copy - for EACH ID.

Why? Just because I can.

by: OhCalcutta

No one steals a 1099, and the tax ids are masked except for a subset..people who want your mail want thick envelopes, branded marketplace boxes... Not bills or debts.
======
They are not stealing 1099,they are stealing what looks like something which could contain something worth stealing,in some cases,they are even robbing the mail man who retrieves mail from those street USPS mail box,all the mail inside the box plus the key to open that mail box,some keys can open 2 boxes in the same neighborhood,they are selling those kets on darkweb.
Any mail which is addressed to a financial institution or from financial institutions or govt to you,they are interested,it could be a check they can wash,it could be your bank account number and routing number,some even put their SSN on the check if it is a tax payment to IRS .
They could have enough information to apply for a credit card or a loan,they could have your phone number and address and companies you do business with and call you.
They could call you and said we are XYZ bank,and looks like some suspicious activity with your cc,just to verify and you reply,then they said just to confirm this inquiry,could you give us just the last 4 digits of your SSN,there you go,they have the last 4 digits.

by: Rexford

Oh Calcutta, I highly recommend every one ask for a yearly pin number from the IRS. I have been using that for years as an additional way to protect myself. And freeze your credit with the three credit bureaus.

by: OhCalcutta

actually if you download your 1099 and make a copy,you get it,no need for them to mail you a copy.
Help them hold down the cost of doing business.    

by: Weirdbooks

@terry55

'' hope ebay will issue it before the 31st ''

I thought the 1099 was for income up to the end of the calendar year, so it should include all orders placed and paid for prior to 12am Pacific time Jan 1, 2024.  The earliest they presumably could issue a 1099 would be January 1, but it is usually quite a bit later.  I do not recall how the 1099k works with ''pending'' transactions, such as ones with payment holds or those that are not ''paid'' until marked shipped like on Amazon.  Unsure if an order placed on 12/31 and not confirmed until 1/3 would fall into 2023 or 2024.

by: Snapped

Accounts receivable, pending, or delayed payment transaction amounts are not considered ‘income’ until funds are actually received in hand by the taxpayer.  

Happy New Year!

by: OhCalcutta

I think any returns are not substracted,you have to do this yourself

by: my2cents

@R
"Urges" us to go paperless is an overstatement.  We have the opportunity to go paperless if we want to.  It isn't any more than that.  

The OP is incorrect in their statement that "I don't really know why eBay sent this (email) out if the IRS is delaying reporting till 2024. Probably to match the 1099k they mailed out in error last year."

IRS did not stop having 1099K issued for 2023.  They just set the threshold back to the old threshold for the FORM to $20,000 and 200 transaction.  The form still exists and in some stated the threshold is much lower than this.

Ebay did send out some 1099Ks in error in 2022 for sellers in California but they caught it quickly and the forms were never sent off to the IRS.  

by: Fruitylovesyou

And everyone should be using an EIN, not forking over SS. Sole proprietors can use EIN instead of SS, marketplaces won't tell you that