Breaking News: Off the hook another year PayPal $600 rule postponed again.

[scottosan]

https://www.foxbusiness.com/money/irs-delays-tax-reporting-rule-venmo-paypal-payments-600

 

[Dan Gleesak]

Woohoo!

 

[rsm]

 

[Chronic Narnia]

So Reverb, Ticketmaster, etc. sales won’t be taxed again? Good, it shouldn’t on 2nd hand sales. It’s BS that they want to collect tax on items already taxed.

 

[acidvoodoo]

Fuck yeah! I was really dreading the 1099 this year.

 

[Brandonrz]

Sweet. Was kind of dreading that bit for the few reverb sales I’ve had and people that can’t read and do PayPal goods and services when I ask them not to.

 

[PDC]

Hell. Yes. Bout need an OT thread on everything that is WRONG with the current tax code…

 

[LP Freak]

Sweet. Was kind of dreading that bit for the few reverb sales I’ve had and people that can’t read and do PayPal goods and services when I ask them not to.

Had that happen to me a couple years ago. I refunded the guy and had him resend the payment FF. At the end of the year I still got a 1099 for the transaction

 

[VonBonfire]

Probably not enough agents to sort through the mess that rule will create.

 

[gbsmusic]

That is great news! Hopefully they don't imply it next year

 

[rsm]

don't worry, WW3 will make it unnecessary

 

[RaceU4her]

I got a letter from the irs the other day saying i owe $235 for something to do with my fathers estate from last year, all them new agents are hard at work so make sure you are prepared

 

[War_in_D]

Fuck yeah! I was really dreading the 1099 this year.

You and me both! LOL

Time to list a few more guitars on Reverb before the end of the year!

 

[klugster]

Whew! Thank goodness

 

[grimmchaos]

You and me both! LOL

Time to list a few more guitars on Reverb before the end of the year!

I was thinking the same thing!

 

[acidvoodoo]

You and me both! LOL

Time to list a few more guitars on Reverb before the end of the year!

Yup!

 

[TotallyRadGuitars]

Thank goodness what amazing news

 

[mAx___]

The fact that they thought of it in the first place is what worries me the most. Taxing our private sales of used items while they keep laundering money in the form of "foreign aid"...with our tax dollars. Washington DC in a nutshell.

 

[harddriver]

 

[Chronic Narnia]

I miss the good old days of Reverb with minimal fees and no sales tax.