Ecommerce Industry News
Did you know that taxpayers who accepted virtual currency for payments in 2021 for goods or services must answer yes to a question at the top of IRS Form 1040 that reads: “At any time […]
eBay must collect social security or ITIN numbers from sellers who sell over a certain threshold, it warned on Monday. The post on the eBay Seller Announcement board cited new IRS tax reporting laws. eBay […]
Merchants who sell products online and/or in bricks-and-mortar stores may receive a statement from their payment processor called Form 1099-K, Payment Card and Third Party Network Transactions. There is much confusion about the form and […]
Selling ill-gotten goods online is never a wise decision, and attempting to hide the proceeds from the IRS only compounds matters. The government says a company executive assistant bought unauthorized supplies from Staples and charged […]
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 […]