cms1 Posted March 7, 2021 Share Posted March 7, 2021 https://www.politico.com/news/2021/03/05/gig-workers-coronavirus-relief-bill-losers-473902 "For those in the sharing economy, the issue is provisions that would dramatically reduce the threshold at which companies like eBay, GrubHub, Doordash and others would have to report to the IRS the earnings of people who use their platforms to make money. The users would also have to be given the information. Currently, that’s only necessary when someone earns more than $20,000 through at least 200 transactions. would drop that to anyone earning more than $600, regardless of the number of transactions." CHASEnBLUE, ADAMANTIUM and SkOw 3 Link to comment Share on other sites More sharing options...
Popular Post october Posted March 7, 2021 Popular Post Share Posted March 7, 2021 Squeezing the poor is much easier than squeezing the rich. One has power, resources and influence, the other does not. It has always been thus. AmazingComics413, Larryw7, OJ Pimpson and 11 others 11 2 1 Link to comment Share on other sites More sharing options...
djpinkpanther67 Posted March 7, 2021 Share Posted March 7, 2021 Looks like CC, checks, or bank wire from here on out 🤬 snitzer 1 Link to comment Share on other sites More sharing options...
Buzzetta Posted March 7, 2021 Share Posted March 7, 2021 But when does it go into effect? Usually eBay sends out a letter on things like this. Link to comment Share on other sites More sharing options...
ADAMANTIUM Posted March 7, 2021 Share Posted March 7, 2021 6 minutes ago, Buzzetta said: But when does it go into effect? Usually eBay sends out a letter on things like this. ya or at least an update to terms of agreement, it hasn't passed yet to my knowledge, so we may know soon or when it does .... go into effect.. Link to comment Share on other sites More sharing options...
Ryan. Posted March 7, 2021 Share Posted March 7, 2021 This has been the threshold in MA for several years. Link to comment Share on other sites More sharing options...
Popular Post grebal Posted March 7, 2021 Popular Post Share Posted March 7, 2021 (edited) On the bright side, according to my calculator, the extra $8.4 billion in taxes this rule is estimated to take in over next decade will pay for the 1.9 trillion of new spending in only two thousand two hundred and sixty years from now. So at least we got that going for us. Edited March 7, 2021 by grebal Warlord, SkOw, bug33fouf and 3 others 4 2 Link to comment Share on other sites More sharing options...
jason4 Posted March 7, 2021 Share Posted March 7, 2021 24 minutes ago, djpinkpanther67 said: Looks like CC, checks, or bank wire from here on out 🤬 Facebook marketplace and cash local pickup also Link to comment Share on other sites More sharing options...
Buzzetta Posted March 7, 2021 Share Posted March 7, 2021 Found it It would not go into effect until after December 31, 2021 Now, am I reading this right? Transactions under $600 do not qualify but transactions over $600 do? Or is it a total threshold of all transactions and once you hit $600 that's it? WolverineX and ADAMANTIUM 1 1 Link to comment Share on other sites More sharing options...
Ryan. Posted March 7, 2021 Share Posted March 7, 2021 1 minute ago, Buzzetta said: Found it It would not go into effect until after December 31, 2021 Now, am I reading this right? Transactions under $600 do not qualify but transactions over $600 do? Or is it a total threshold of all transactions and once you hit $600 that's it? Here in MA the $600 is aggregate, regardless of number of transactions or the value of any individual transaction. The Lions Den and ADAMANTIUM 1 1 Link to comment Share on other sites More sharing options...
Buzzetta Posted March 7, 2021 Share Posted March 7, 2021 5 minutes ago, Ryan. said: Here in MA the $600 is aggregate, regardless of number of transactions or the value of any individual transaction. But that may not necessarily mean that Fed Gov will adhere to that threshold. We shall see. Link to comment Share on other sites More sharing options...
Ryan. Posted March 7, 2021 Share Posted March 7, 2021 3 minutes ago, Buzzetta said: But that may not necessarily mean that Fed Gov will adhere to that threshold. We shall see. No doubt. I'm just sharing my experience. Link to comment Share on other sites More sharing options...
ADAMANTIUM Posted March 7, 2021 Share Posted March 7, 2021 12 minutes ago, Ryan. said: Here in MA the $600 is aggregate, regardless of number of transactions or the value of any individual transaction. is it just ebay or "3rd party?" or does paypal on the boards with goodsnservices count as the $600 aggregate as well? I guess what I'm asking is, is PayPal itself with goodsnservices considered a 3rd party? Link to comment Share on other sites More sharing options...
Buzzetta Posted March 7, 2021 Share Posted March 7, 2021 Just now, Ryan. said: No doubt. I'm just sharing my experience. Even as a buyer on eBay I am praying you are wrong. The beauty of eBay and sites like it made it possible to find anything and everything at the touch of a button. Things previously believed to be rare were no longer 'rare' once people became comfortable listing whatever was in their closet. I had never seen a vintage Yak Face until I bought someone's on eBay. Lego sets only produced in Europe found their way to Long Island thanks to eBay. Something like this will drive away a lot of potential sellers on eBay reducing the number of items. What a shame. Looks like you are going to see a lot more non protected payment only sales which will also lead to a large amount of dishonesty. The Lions Den 1 Link to comment Share on other sites More sharing options...
Ryan. Posted March 7, 2021 Share Posted March 7, 2021 8 minutes ago, ADAMANTIUM said: is it just ebay or "3rd party?" or does paypal on the boards with goodsnservices count as the $600 aggregate as well? I guess what I'm asking is, is PayPal itself with goodsnservices considered a 3rd party? PayPal G&S too. SkOw and ADAMANTIUM 1 1 Link to comment Share on other sites More sharing options...
Ryan. Posted March 7, 2021 Share Posted March 7, 2021 7 minutes ago, Buzzetta said: Even as a buyer on eBay I am praying you are wrong. The beauty of eBay and sites like it made it possible to find anything and everything at the touch of a button. Things previously believed to be rare were no longer 'rare' once people became comfortable listing whatever was in their closet. I had never seen a vintage Yak Face until I bought someone's on eBay. Lego sets only produced in Europe found their way to Long Island thanks to eBay. Something like this will drive away a lot of potential sellers on eBay reducing the number of items. What a shame. Looks like you are going to see a lot more non protected payment only sales which will also lead to a large amount of dishonesty. Let's just say that eBay is not going to get out of this unscathed. ADAMANTIUM and SkOw 2 Link to comment Share on other sites More sharing options...
shadroch Posted March 7, 2021 Share Posted March 7, 2021 When the richest 125 individuals own as much as the lowest 3.8 billion, bad things happen. WolverineX 1 Link to comment Share on other sites More sharing options...
the blob Posted March 7, 2021 Share Posted March 7, 2021 (edited) And now states are enjoying sales tax revenues from all of this. This is going to cause a lot of people to just stop selling, because of the hassle in figuring out their taxes for $2000 in sales that may or may not produce any taxable profit. States are going to lose revenue as a result. Edited March 7, 2021 by the blob SkOw 1 Link to comment Share on other sites More sharing options...
WoWitHurts Posted March 7, 2021 Share Posted March 7, 2021 2 minutes ago, shadroch said: When the richest 125 individuals own as much as the lowest 3.8 billion, bad things happen. The problem lies more with our legislature. They Spend more than they bring in. That is a problem. theCapraAegagrus, SkOw, snitzer and 1 other 3 1 Link to comment Share on other sites More sharing options...
The Lions Den Posted March 7, 2021 Share Posted March 7, 2021 8 minutes ago, Buzzetta said: Something like this will drive away a lot of potential sellers on eBay reducing the number of items. What a shame. Looks like you are going to see a lot more non protected payment only sales which will also lead to a large amount of dishonesty. Well, it's been a nice run. I'm gonna miss you fellers... WolverineX, Tony S and SkOw 2 1 Link to comment Share on other sites More sharing options...
