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Curious...You pay taxes from eBay or paypal...

Discussion in 'Ebay' started by armyboy112, Nov 18, 2009.

  1. armyboy112

    armyboy112 Newbie

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    It seems like a stupid question but i have 2 fake ebay accounts but i use my real paypal account...i make around 1k to 2k a week... just wondering how the taxes work whether i would still have to pay taxes because of paypal or....if i am safe because i got a fake ebay account...

    tried googling it couldnt find anything...btw i live in florida
     
  2. oldenstylehats

    oldenstylehats Elite Member Premium Member

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    By law, you're required to report all income to the IRS at tax time. However, I don't believe PayPal is required to start reporting financial information to the IRS until 2011. You can read more about it here. Regardless, if you get audited before then, you aren't going to be able to hide the money.
     
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