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+--- Thread: PayPal Electronic Policy??? (/showthread.php?tid=115796)
PayPal Electronic Policy??? - Phy - 04-21-2011
I looked and couldn't find any reference to this.
Every time I log into PayPal, I get this message:
When I read the policy, it gives permission to share my sales, purchases and other information with IRS.
WTH????
Have any of you agreed to this? I do not intend to.
Re: PayPal Electronic Policy??? - Janit - 04-21-2011
The IRS now requires that PayPal report the transactions of any members whose receipts for the year exceed $20,000 AND 200 transactions. PayPal is not fighting this, and has agreed to make these reports.
Re: PayPal Electronic Policy??? - Phy - 04-21-2011
I may have more than 200 transactions, but they're all piddly small amounts, no where near $20K or even half that. It sounds very Big Brother-ish!