On Dec 13, 6:57 pm, trippin-2-8-track wrote:
Attention all you Ebay sellers- this is one proposal you may want to
get behind- Bush may ask for a law to be passed, whereby Ebay sales
would come under the IRS tax umbrella- and Ebay would actually issue a
statement, similar to a W-2 or 1099 form, showing total sales and
total transactions for each seller on Ebay per year.

Now the good part- all sales under $5000 per year, or under 100
transactions per year, would be exempt !

This is a WIN-WIN for most small Ebay sellers- and basically a $5000
tax shelter for the average guy/gal selling on Ebay. Reason- most
Ebay sellers fall under that amount of sales, and would be considered
exempt ! If you sell on Ebay and are claiming $5000 or less in gross
sales currently, it would all become TAX FREE ! You would no longer
have to claim it !!
"W" would basically be giving us all a $5000 tax deduction every year,
on sales of used household goods !!

Check it out:

http://arstechnica.com/news.ars/post...merge-on-irs-p...

Details emerge on IRS plans to tax eBay auctions
By Nate Anderson | Published: May 15, 2007 - 11:55PM CT

Changes are contained in the President's 2008 budget proposal.
Instead
of targeting only Internet auction sites, the current proposal
actually expands the definition of a "broker" to include middlemen
that don't actually function as the customer's agent in a
transaction--
like eBay, for instance. Brokers currently need to file a form with
the IRS that gives the name, address, and gross proceeds of each
customer they work for; under the new proposal, many more companies
would need to do the reporting.

The Treasury Department wants the change because, as the budget
request notes, "compliance increases significantly for amounts that a
third party reports to the IRS." But this isn't a change that will
apply to all eBay sellers; in fact, most will be exempt from the new
reporting requirements.

Internet auction sites will only be required to report customer
revenue information if the customer does more than 100 separate
transactions in a fiscal year and generates more than $5,000 in gross
proceeds. In a report from the Information Reporting Program Advisory
Committee (part of the IRS), the new proposal is supported by a 2005
study showing that over 700,000 Americans have a primary or secondary
source of income through eBay.



just emailed to Rush Limbaugh, to be broadcast nationwide to millions
of listeners this week, nationwide

see what being a dumb ass gets you, DeserTBob ?