Friday, August 8, 2008
IRS AND INTERNET SALES
The IRS is on the move and looking to crack down on income from internet sales. This won't have an effect on many sharpeners, but a few of us do sell quite a bit online. According to the Wall Street Journal, there is a "part of the housing rescue package that President George W. Bush is expected to sign within days, [that] will require PayPal and other processors of online payments to report annual gross receipts to the IRS for all but the smallest online merchants."
To see if this may effect you, click here to view the complete article.