TaxPersonal TaxUS tackles eBay taxpayers

US tackles eBay taxpayers

US taxman gets tough on eBay users in a bid to recoup $2bn in lost taxes

The US tax authorities could soon receive information from auction houses
such as eBay and Sotheby’s on customers that carrying out lots of transactions.

The Internal Revenue Service
is expected to introduce the regime from next year for customers carrying
out more than 100 transactions of at least $5,000 ($2,564), and could collect
$2bn in taxes, reports the FT.

eBay has argued that the
strategy is anti-competitive as some of its competitors are exempt from the
regime.

HM Revenue &
Customs
has repeatedly warned eBay users in the UK to consider the
tax implications of trading on the website.

Further reading:

Ebay to help stop illegal antiquities
auctions

BBC sinks Blue Peter badge eBay pirates

PayPal and eBay top phishing hit-list

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