Comments on: Online Selling Fraud with a Side of Tax Evasion

By: Newtypeshop

Newtypeshop — Mon, 27 Jul 2020 16:10:11 +0000

She’s just a really bad accountant. How could she know that the IRS wouldn’t catch her? I have received the letter from the IRS which requires you to report those sales on your tax return. Whenever you link your paypal or any payment to your own bank account that’s how the IRS tracks money.

By: The End

The End — Sat, 25 Jul 2020 03:06:58 +0000

Now if we can just get the DOJ to investigate Etsy….

By: Silver Ice King

Silver Ice King — Sat, 25 Jul 2020 00:27:58 +0000

I think there is going to be more and more of these type of tax fraud coming up in the near future as more and more Sellers are using FB and forcing buyers to pay with Friends and Family so they do not get a 1099 from Paypal and then do not report the income either. Many are going to wind up having their accounts closed by Paypal when they get caught and others are going to keep doing it since Paypal has not caught up with them yet, but eventually have their taxes audited or reviewed as the IRS starts looking more and more into how they can afford their style of living on what little they seem to make.

Most just do not want to understand that all sales are subject to income tax and think that since they do not get a 1099 they are not subject to income tax on those sales.

By: RL15

RL15 — Fri, 24 Jul 2020 20:51:17 +0000

IRS is really good at getting the tax they are owed.

Good job.