IRS Reporting with Stealth account - How Does This Work

[banchor]

I've been reading the eBay Stealth Book and going through the forums but haven't really seen any specific addressing of the IRS regulations that dictate that any account with over $20,000 in transactions must report to them. Am I to suppose that no one exceeds this amount with their stealth PayPal accounts? Is the only safe and legal way to do it through a corporation/LLC etc?

I need a new account ASAP and have no doubts that I will sell above the $20k mark again this year, but am concerned about how to handle the reporting of this in a fully legal manner. I don't want to mess with the IRS.... the gun-backed tyrants!

Thanks for your input(s)!

[JamesNorth101]

Originally Posted by banchor

I need a new account ASAP and have no doubts that I will sell above the $20k mark again this year!

Just FYI, your going to be needing to have more than 1 account.

[jai]

spread your sales over numerous accounts

stay under radar