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Paypal 1099!!!

Discussion in 'Black Hat SEO' started by Gyuman82, Jan 8, 2012.

  1. Gyuman82

    Gyuman82 Jr. VIP Jr. VIP Premium Member

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    Uncle Sam wants his money.


    Waaaaaaaaaaaaaaaaaaaaaaaacccccccckkkkkkkkkk!!!


    The end.
     
  2. Digital_Man

    Digital_Man Registered Member

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    How would pay pal know the total P&L to issue a 1099????
     
  3. Big_0n3

    Big_0n3 Senior Member

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    Can you tell us more about the problem because i dont understand what are you trying to say.
     
  4. Gyuman82

    Gyuman82 Jr. VIP Jr. VIP Premium Member

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    Thats the thing. If you have an account that has an over $20,000 in transactions and over 200 transactions they issue you a 1099-k. And then I guess its up to you to figure out how to explain it to the IRS. Just started in 2011. I guess I gotta see when it gets here.
     
  5. HarrisonHill

    HarrisonHill Regular Member

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    Uncle Sam will definitely receive his money wack. Whatever money wack means
     
  6. wisdomkid

    wisdomkid Jr. VIP Jr. VIP

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  7. HazardPT

    HazardPT Registered Member Premium Member

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    Damn. Might be time to set up more than one major PP account for some people.
     
  8. AdvanceSeo

    AdvanceSeo BANNED BANNED

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    what is paypal 1099??
     
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  9. HazardPT

    HazardPT Registered Member Premium Member

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    Where US government tries to bend you over and stick you hard in the ass with taxes.
     
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  10. AdsMakesSense

    AdsMakesSense Regular Member

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    Was paying takes taxes on Paypal before the 1099K...not much of a change for me. =/
     
  11. Digital_Man

    Digital_Man Registered Member

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    1099 is a tax form for the irs. there are many types. the government takes a % of your money. if the only way you have paid taxes is from your j.o.b. then this will be a shock to you the first time. talk to a contractor about this, we have lots to say about it. I just don't know how paypal has all the info to issue one.
     
  12. Digital_Man

    Digital_Man Registered Member

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    the thing is if the numbers are wrong on the 1099 the irs will always see it in there favor. They really are a special kind of stupid.
     
    Last edited: Jan 8, 2012
  13. adrien23

    adrien23 Regular Member

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    Are they gunna be issuing tax forms for anyone outside of the US? (Canada)
     
  14. Junkfood00

    Junkfood00 Elite Member

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    What if you live in an European country, will you also receive any 1099, 1337?
     
  15. AdsMakesSense

    AdsMakesSense Regular Member

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    No, this is United States only as the US government is finally starting to catch up with the internet a bit. Not in a good way......
     
  16. HazardPT

    HazardPT Registered Member Premium Member

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    No. You only get if you have a US account with US address.
     
  17. mrankin

    mrankin Jr. VIP Jr. VIP Premium Member

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    The Australian Government is dearly wanting to get its hands on Paypal's records in Australia for exactly the same reason, but fortunately for us living down under, Paypal is not a financial institution, and thus has no obligation to provide the Australian Government with any records whatsoever. There would have to be a change/relaxing of laws which is not going to happen as we have a very strong banking sector, and no-one wants to jeopardise that : )
     
  18. zebrahat

    zebrahat Elite Member

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    First, the 1099 can't be released if they don't have a SSN/EIN to apply the receipts against. Secondly, if you are not subject to the IRS and you get one, correspondence could be sent to them with a corrected form showing no monies applicable to a tax liability were actually received.

    This could be followed up by a FOIA letter you send to their Philadelphia, demanding evidence of a verified and completed assessment. They are supposed to answer the FOIA request within 21 days and when they do, they tell you, in writing, there is no assessment on file. You then have point blank evidence, from the IRS, that they are full of it, and they drop their tax claim. Just one way to beat back the tax gestapo.
     
  19. mrdonman

    mrdonman Regular Member

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    yep they should just make a separate tax form for canada
     
  20. nonin

    nonin Jr. VIP Jr. VIP Premium Member

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    I have heard as well that it applies to US customers only