Paypal and the New Tax Reporting Laws Links???

[Comicsarefun]

Hello.

 

I know there was a thread about this not too long ago. Paypal begins reporting to the IRS for tranactions in 2011 and I want to get my accounting in better order to prepare.

 

Paypal had a big banner for a while to provide information, but they have removed it and their search engine is a joke. You would think they would provide an easy link to the information, but it is very well hidden (in my experience anyway).

 

Does anyone have a link to the official Paypal information about the new reporting requirements? Or perhaps someone knows where it is on the Paypal site?

 

Thanks for the help.

[DiceX]

Sure would save everyone a lot of trouble if they just instituted the Fair Tax.

 

 

[Dick Pontoon]

Because I promised BlowuptheMoon things would be back to the same old:

 

The search button is your friend.

 

and that old chestnut:

 

Took 10 seconds to search.

 

But seriously, hope this helps.

[BlowUpTheMoon]

[Calamerica]

This new law WILL affect some of here on the Boards...not by what we sell here, but the PayPal transactions WILL add up. Better dot your i's and cross those t's...

 

CAL must hire a moving kid to drop the BOXES of paperwork to Accountant...

[Comicsarefun]

Because I promised BlowuptheMoon things would be back to the same old:

 

The search button is your friend.

 

and that old chestnut:

 

Took 10 seconds to search.

 

But seriously, hope this helps.

 

Sweet! I love people that know how to make the computer thingy work!

 

(thumbs u

[Comicsarefun]

This new law WILL affect some of here on the Boards...not by what we sell here, but the PayPal transactions WILL add up. Better dot your i's and cross those t's...

 

CAL must hire a moving kid to drop the BOXES of paperwork to Accountant...

 

 

Agreed. I'm sure some people will chime in as usual with the "it won't matter if you have been paying your taxes anyway". I'm just trying to get a better grasp of the paperwork requirements, since all sales income will be reported, I need to create a better system for tracking all expenses and backing it all up.

 

[Mr.Diggler]

Sure would save everyone a lot of trouble if they just instituted the Fair Tax.