They can do it without storing a SSN. They themselves aren’t a bank and I don’t owe them money so why would they need to store my SSN?It's not Reverb. It was part of a bill signed by Joe Biden requiring banks, etc to report transactions over 600 so that they can tax you on it.
+1Nope, ain't gonna do it
Actually they need a FEIN to report to the IRS. If you are a business you have an FEIN specifically for the business, if you are an individual your FEIN is your SSN.They can do it without storing a SSN. They themselves aren’t a bank and I don’t owe them money so why would they need to store my SSN?
Could you start a business and register a FEIN in place of a SSN to remove the need for them storing your SSN?Actually they need a FEIN to report to the IRS. If you are a business you have an FEIN specifically for the business, if you are an individual your FEIN is your SSN.
AbsolutelyCould you start a business and register a FEIN in place of a SSN to remove the need for them storing your SSN?
This.have only bought , thankfully I have had good luck on the FB marketplace and forums
I was flipping Reverb double birds long before the whole SSN thing. I drew the line WAY before this.Anyone else feel this way having to submit your ssn to do business there?
Well, it was one paragraph of one of the huge relief bills. And there is a group of Dem congressmen lobbying a new bill to amend the $600 limit up to $6kIt's not Reverb. It was part of a bill signed by Joe Biden requiring banks, etc to report transactions over 600 so that they can tax you on it.
This is the part that makes it seem like such a waste of time. Can I just tell the IRS, "I don't keep receipts for gear transactions where I lost money, I only keep the receipts when I made money...and I don't have any receipts."I don’t believe I’ve ever made a profit selling gear. Not a single time.