Message:

<p>[QUOTE=&quot;imrich, post: 8145533, member: 22331&quot;]My experience is that in the event of an IRS audit, you&#039;ll need absolute proof of your basis expenses, OR the IRS will simply tax based on reported gross sales. </p><p><br /></p><p>I believe the Federal tax correction legally should/would be reported to the residence state for a correction of additionally due state tax. </p><p><br /></p><p>I believe this tax law change is a huge &quot;cash cow&quot; for both Federal and State, without a tax rate increase.</p><p><br /></p><p>I don&#039;t totally understand how eBay interfaces with the governing tax agencies, as it appears they are collecting</p><p>a double gross sales tax on every sale?. A sales tax from both the seller and buyer? I don&#039;t know if a resales document is allowed?</p><p><br /></p><p>I have now stopped buying, as it&#039;s difficult to prove that you aren&#039;t violating the believed 1986 &quot;money laundering&quot; law.</p><p><br /></p><p>I believe the current legislative change/application may have a significant effect on internet/B&amp;M? sales.</p><p><br /></p><p>JMHO[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in