Ecommerce Industry News
eBay CEO Jamie Iannone said in a post on Wednesday that the IRS’s decision to delay the new, lower $600 tax-reporting threshold for a year was “welcome news,” saying it would translate into reduced tax […]
In what seemed like a routine email titled, “View updates to your PayPal account,” PayPal informed an online seller he had passed the threshold for reporting payments to the IRS, notifying him that according to […]
Mistakes happen, but when they are made on tax reports filed with the IRS, it’s important that they are corrected to ensure you don’t overpay or potentially lead to an audit. A reader told us […]
Sellers are reporting discrepancies on Form 1099K tax forms received from Etsy, and since Etsy also sends the form to the IRS, sellers are asking whether it could flag an audit since it over-reports their […]
PayPal provided us with some clarification on the duplicate 1099Ks some Etsy sellers received this month. PayPal and other payment providers are required to send Form 1099K to sellers and to the IRS showing the […]
Online sellers are being swept up in new confusion this year over Form 1099K as they prepare to file their income tax with the IRS and their state departments of revenue. New laws targeting income […]
If you’re like most U.S. sellers doing a significant volume of sales, you’ve begun receiving Form 1099-K from payment processors. But should you be concerned if the amounts being reported to the IRS on Form […]