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<p>[QUOTE=&quot;urbanchemist, post: 1643186, member: 13080&quot;]here is the link that was contained in the email i got from paypal last month.&nbsp; </p><p><a href="https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&amp;content_ID=marketing_us/IRS6050W" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&amp;content_ID=marketing_us/IRS6050W" rel="nofollow">https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&amp;content_ID=marketing_us/IRS6050W</a></p><p><br /></p><p>here is some info from the page:</p><p><span style="color: #040608"><font face="Arial">&nbsp; What is Internal Revenue Code (IRC) Section 6050W?</font></span></p><p><span style="color: #666666"><font face="Arial">Under the legislation, we&#039;ll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:</font></span></p><p><span style="color: #666666"><font face="Arial"><br /></font></span></p><p><span style="color: #666666"><font face="Arial"> <ul> <li>&nbsp; US$20,000 in gross payment volume from sales of goods or services in a single year</li> <li>&nbsp; 200 separate payments for goods or services in the same year</li> </ul><p>IRC Section 6050W applies to all payment processors, including PayPal. Our goal is to help PayPal sellers understand and comply with the new requirements.</font></span></p><p><span style="color: #666666"><font face="Arial"><br /></font></span></p><p><span style="color: #666666"><font face="Arial"></font></span>[/QUOTE]</p><p><br /></p>

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