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

armyboy112

Newbie
Joined
Sep 19, 2008
Messages
40
Reaction score
33
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
 

oldenstylehats

Elite Member
Joined
Apr 10, 2008
Messages
1,892
Reaction score
1,214
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
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 http://www.auctiva.com/edu/entry.aspx?id=Credit-Cards,-PayPal-to-Report-Sellers%27-Income-to-IRS. Regardless, if you get audited before then, you aren't going to be able to hide the money.
 
Top