New ebay payments require SS#?

Phishing scam 

Pish in hazen.

Democrats have got pay for all those social programs. 
Defunding the police was not enough. 
BTW I am Police. 

@ chicagoblue1977,

You sound like what is wrong with the police.  The police haven’t been defunded, stop lying about it. We Democrats want police reform, particularly in the way people of color and minorities are treated, not defunding.  You speak yet another Republican lie. 

Guys, it would nice to get one reply that is actually responsive to my post. Please don’t post if you are not on topic. Thanks.

And, it's not a scam or phishing.  The new payment methodology is right there on the ebay web site.

I don’t think it is a phishing scam.  eBay plans to have the IRS  send out 1099 forms to people who have sold there and it will be treated as untaxed income.  This was part of the “wonderful” tax revisions that was passed in 2018, I bet many people didn’t read the entire bill (I did).   You remember, the trickle down effect was supposed to help the middle class?  Well, it didn’t. This new “income” will need to be reported next year on your 2021 taxes

@stereo5 Well, ebay sending out a 1099 and reporting it to the IRS is what I was concerned about. For people who only occasionally sell a used item that they may have owned for a decade or more, I don’t see how that should be taxable income. Now, if you run a business on ebay and support yourself that way, I can see how it might be taxable income. 
The IRS would not be sending out 1099 forms. Rather, it would be ebay that would send the 1099.
How do you know that ebay plans to do this, and do you have a link?

@ chicagoblue1977

You're not a cop. Otherwise you'd know what defunding actually means, and also that most cops would really appreciate not having to deal with mental illness issues, the homeless and repeat drug addict calls for just three examples. And Gezzz, your pension is a social program, or do you not even understand how your own pension works? 

Ebay hasn't asked for my SS number (yet) but wants my bank account password in order to deposit my sales since it doesn't go to Paypal anymore.
Is anyone actually giving out their password to Ebay?

Please, stay on topic, people.

@stereo5 That was sarcasm. There are no republicans in Chicago.

Yet you spew a lie as our great mayor has pulled our teeth and then she complains about gang crimes being up.

You can’t have it both ways.

Period. 

@markpao What happens in their process is that you first have to give them your routing number and account number to which you want your payment deposited.  After that, they ask for your SS# and there is a statement that it is required to be in compliance with government regulations.

@deadhead1000 perfect name for you.... like I said it was sarcasm. 

And yes I am police and I know how my underfunded pension works here in Chicago. 
Smoke em if you got em. 

@mtrot  I did initially send them my account number along with routing number. Then the next step they wanted my password to that bank account!. I backed off and never gave it to them. Did you have to give your bank account password?

@markpao
No, my bank account password was never requested.

@mtrot,

You are correct, I meant to say eBay, my mistake. I read this I believe from one of the Stereophile writers.  It is also written into the 2018 tax law that online sales by private party’s will be subject to paying Federal Taxes on their sales starting with the 2021 income taxes. I understand PayPal is involved. I wonder if I will get a 1099 for everything I already sold this year?  I hope not as I practically gave away the GE Triton Ones I sold.  Paying a tax on that sale is would really add insult to injury. 

I know I have received several emails on eBay’s change in “how you get paid” 

Have not bothered to read these notices because I have not sold anything on their platform in some time.

Next we will have a VAT Tax.....oops before you get your panties in a wad I am kidding. 

Haven't heard about ebay asking for SSN, but did hear about bank info and password on THIS forum. I wouldn't provide your SSN, but yes they will send the irs info on your sales and you'll need to pay taxes on that amount. I don't sell on ebay any longer and won't go back. Audiogon, Reverb and Bonanza is the what I use.

It looks like there is a threshold, currently $20,000, beyond which platforms such as ebay are required to send you a 1099 form.  But, starting in 2022, the threshold will drop to $600.  It looks like the earliest you would receive a 1099 form for sales over $600 will be in early 2023. And you will have to account for any payments over the $600 threshold on your tax return, although you may not owe taxes on it.  But still, I'm not interested in the hassle of having to fool with that.  

https://www.cnbc.com/2021/03/26/its-going-to-get-harder-to-avoid-telling-the-irs-about-income-from-o...

@fiesta75
It actually won't matter if you use Audiogon, Reverb, etc., if you receive payment through PayPal.  PayPal will be subject to these regulations as well, as I understand it.

Actually I am here in Chicago and I use a vpn dude. 

FROM PAYPAL WEBSITE


U.S. citizen or other U.S. person/entity

Customers who exceed the reporting thresholds set by the IRS ($20,000 USD and 200 transactions) will be asked to confirm their U.S. taxpayer status and to provide their U.S. taxpayer identification number (SSN, EIN, ITIN) and name.

When you need to confirm your U.S. taxpayer status, we’ll let you know by email and by notifications that you’ll see when you log in to your PayPal account. Click the link provided in the email or in the notification and enter the requested information.

The information you provide will be compared to the information on file with the IRS. If it doesn’t match, you’ll be able to review and edit the information up to three times. If the information cannot be verified, you’ll be asked to also provide your address and certify your information. (This is the same information collected in the IRS Form W-9.)
If you have multiple PayPal accounts, you’ll need to confirm your taxpayer status for each account.

If the IRS has notified you that you are currently subject to backup withholding, don’t submit your information online. Instead, contact PayPal Customer Service for assistance with confirming your taxpayer information at 1-888-221-1161 (1-402-935-2050 if calling from outside the U.S.).

How do I receive money or get paid via PayPal?

Getting paid or receiving money through PayPal is very easy! Someone must send a payment to your confirmed email address, registered to your PayPal account. We’ll send a message to that email address to let you know someone has sent you a payment, so you can claim it. To receive your payment, you must open a PayPal account and confirm that email address.

If you already have a PayPal account, you’ll see the recent activity on your Summary page. Click your transaction to view the details.

As soon as you receive the payment, you can transfer the money to your bank account.

Q, look at the last line …. WHATS THE DEAL asking for your bank account ??? 

@stereo5 I am in Denver now, when I am actually on a surveillance in Rogers Park. 
Such a tech wiz you are.

Next I will be in Russia.  

@stero5 Nope they are all in Buffalo Grove and Barrington

There are Republicans in Chicago

This is not the forum for politics.
OP thanks for that, I don't sell that much, but that's great info.

Read up. It's not eBay it's IRS. Sell what ever you can this year. Stating in 2022 all transactions over $600 cumulative get a 1099. Airbnb, eBay, Craigslist, blah blah. The you have to supply accrusl cost for all sales on your 2022 tax return. Good luck finding receipts. I would not be surprised if it's not treated just like gambling. Losses can come off of like transactions only.
Migraines for everyone.

I see a big Craigslist boom incoming!

@fuzztone
The problem is, I don't know if other families are similar, but in my family, we send each other money via paypal, back and forth, for various occasions, i.e., birthdays, Christmas, Mother's Day, etc.  So, basically, we are sending money back and forth to each other, such that we don't really net anything from it.  But I guess it's possible that one of us might receive over $600 in one year.  Why should anyone in that circumstance have to explain anything on their tax return? 

I just sold a record and bought two CDs on eBay and there was nothing about my SS# anywhere.

Back to the topic of eBay, the IRS and 1099’s. How can the IRS justify charging income tax on the sale of an item that was paid for with post tax income, sales tax paid at original purchase and sold at a depreciated price. They should refund the sales tax on the depreciated amount. Time to dump some tea in the harbor!

@theo
In that scenario, you would not owe income tax.  Even if you go over the threshold for receiving a 1099, it does not necessarily mean you owe taxes on anything.  It depends on the situation.  If you operate on ebay as a business, then you might.  Or if you sell something that significantly appreciated in value during the time you owned it, you might owe tax on  the appreciated value.  That's the way I understand it.

Screw eBay, PayPal and the IRS. there are other ways to complete a transaction. Apple Pay, Venmo, Zelle, crypto and old school USPS money orders. No way am I paying tax on a item I already paid tax on when I initially purchased it. 

@chicagoblue1977 1. Thank you for your service. 2. There are Republicans in Chicago and yes, in Chicagoland too.

About eBay, I don’t like buying and selling on eBay. 1. eBay charges sales tax. 2. When you sell on eBay, even though you are not collecting the sales tax, PayPal charged its fee on your sales price PLUS the sales tax! As for audiophiles it is not a good place to be doing business. I shifted more and more of my transactions whenever possible to Audiogon or usaudiomart. Doing so is much better for both buyer and seller. My advice: ditch eBay. 

I won't be selling anywhere that requires banking and other information.
I remember ebay many years ago when I just sent check, money order or cash. Never a single problem. Where are we headed with all this ?

Madness in the USA
Are you really saying that sellers will pay tax on the gross proceeds of sale?
What about the cost price.  Crazy.
Does Walmart pay profits tax on its turnover??
Someone's got something wrong, even the US government isn't that stupid.

States now want sales tax on 'Net purchases sent to each state. The noose is tightening!

I go to work and earn money, the government takes a portion of my money for taxes.

I then buy something with that already taxed money and get taxed on my purchase.

Why is me selling that Item, that I paid tax on, with money I earned that was already taxed, taxable income when I sell it? Pay pal already does this now.

It's outrageous. We need to find another trust worthy method to pay each other here on Agon.

How about USPS money order or cashiers check? Don't ship until they clear. Cash for items that are picked up, like Craig's List.

They already send 1099 out. I’ve been getting them for at least 5 years or so now. Even when they put the sale money into PayPal. Also, yes it is counted as income and so you will have to have your tax guy try and bring down the numbers. A good way is to say its a business and take any and all deductions etc. It sucks. This is one reason I am just hanging on to stuff. It is not worth it now to sell on Ebay or here. Sell it locally as someone said.

Sounds like an indirect phishing scam even if it is truly eBay. The compliance costs, safeguarding information alone will be a massive cost increase to companies like eBay. Wait until they have a major breach with information that can empty your bank account. I would never provide bank account#, routing# and SS#. Expect to get screwed by a merchant somewhere just as much as if you sent it to the Nigerian “diplomat” that has money they can’t access overseas and they need your help getting it out for a finders fee. They just need the same information from you. “eBay” and anyone can ask for that information as much as they want, but I’ll take my business elsewhere!

They have asked me for the same information saying that if I don't comply I may lose my rights to sell on ebay. I refuse to comply and I am going to cancel my account. FYI I just recently had a sale the buyer paid using their new system and they will not release the funds until I give them the information.  Not Happening too much scamming going on with ebay. 

Chuck

Yeah, I just ended three items I had for sale because all this ticked me off so much.  Like I said above, Craigslist may soon be seeing a boom of activity.

Everything would be fine IF Ebay claimed they were hacked or not?

No mater the reason your information is NOT safe anywhere. Silly to think it is.

BUT don’t just fling the door wide open for sloppy tax collecting policies.

It’s ALL about TAXES and people paying them or NOT. Nothing else.

Scammers hardly need Ebay to do it..

The government and those that collect money for them do.. I question all the collection is it actually going to the ol TAX Collector. That’s what I question... Is Ebay cooking the books? It would be absurdity to think they WEREN’T. They are as crooked as the tax collection process is.. How broke in that.. the US Tax system.. ALL OF IT.. Din of thieves

Ebay is not in the billions it's in the TRILLIONS

I don’t sell anything and certainly won’t start.  The boon to selling sites this year will be followed by a drop thereafter, as people just don’t want to provide such sensitive information and deal with the hassle of reporting income from sales.  Another blow to the average person just trying to sell off things that they have lying around.  The internet becomes less useful. 

I just had to setup eBay payouts to get the proceeds of a sale. They wanted the last 4 of my social. Not the whole thing.

So, Y’all have gotten ’yer panties in a knot over a simple sales tax?

For your entire life, you have been having your labor taxed, with the government laying claim to that portion of labor that is taxed. Not realizing that another entity, the government, owns the portion of your labor that is taxed, you have never questioned the fact that when another entity owns a portion of your labor, that is the degree to which you have been economically enslaved.

The Founders, in the Constitution, called for taxes to be derived from Tariffs, Duties, and EXCISE taxes, as those are the taxes of free men. They didn’t include an income tax in the founding document because they realized that taxing labor is a slave tax.

In 1913, under the racist president Woodrow Wilson, the Progressives got the 16th Amendment passed, with no provision on how much the government can take ... and they take just enough short of creating a revolution.

With the new Biden tax rates, top earners in high-tax states like California will be paying approximately 52 percent of their total income (labor) in taxes. Let that sink in.

It is time to abolish the 16th Amendment and replace it with an end-user national sales tax. Think about it ... The next time you buy gasoline, watch the gauge rack up the costs. Here in California, fifty cents per gallon are in the price of each gallon in the form of sales (excise) taxes. You pump the gas, fill the tank, put the nozzle back into place, and drive off. There was no accounting, no fear of audits, no deadlines, no IRS ... and no turning in your financial confessions to Ceasar every April 15.

Economic slaves, or free men. Our choice if we truly want it.

Frank

It is not a sales tax issue but the linking (routing number & account number) of my Bank Account with my ebay account.