Sunday, April 15, 2007

IRS wants to know about your eBay Account

Decisions about Tax policy are really decisions about spending policy. As long as the Federal Government gets bigger and costlier, the government's appetite for our money will continue to grow and OUR government will be ever more intrusive into our private lives, where WE should be sovereign, not our government. Government is supposed to be a servant and NOT a nanny.

Link

Americans who sell items through Internet auction sites could be in for an unpleasant surprise at tax time next year, thanks to an IRS proposal designed to identify taxpayers who don't report income from those sales.

The U.S. Treasury Department wants Congress to force auction sites like eBay, Amazon.com and uBid.com to turn over the identities and Social Security numbers of a large portion of their users to the IRS--so tax collectors know how much each person made through online selling.