Forum

Amazon Tax ID requirement..
 

My friend got this:

Beginning with the 2011 tax year, new IRS regulations require Amazon to file
a Form 1099-K for sellers who exceed $20,000 in unadjusted gross sales and
200 transactions in a calendar year. To assist in complying with these
regulations, we are requiring sellers who exceed 50 transactions in a
calendar year, regardless of monetary threshold, to provide their tax
identity.

Please provide your tax identity to Amazon as soon as possible to prevent
disruption to your seller account. Note that if the required information is
not provided to Amazon by December 26, 2011, your Amazon selling privileges
will be suspended until you provide the information.

You can enter your tax information in your seller account, using a short
interview process that can be accessed from the Settings > Account Info >
Legal entity section.

For additional information about entering your tax information, see answers
to frequently asked questions:

http://www.amazon.com/gp/help/customer/display.html?nodeId=2006
Learn more about the regulations and Form 1099-K at the IRS website:

Final Regulations on Payment Card Reporting

Important Notice: Information in this document does not constitute tax,
legal, or other professional advice. To find out how this new legislation
will affect your business, or if you have other questions, please contact
your tax, legal, or other professional advisor.


Best regards,

Amazon Services

So what are you asking? or are you commenting on this? that rule has been in place since middle of last year. They announced that on the IRS website in june of 2010

Interesting.

This leads me to believe that Amazon KNOWS about stealth sellers. Either that, or they figure that a lot of people won't want to provide the information.

Why else would they allow sellers until THE DAY AFTER CHRISTMAS to provide the data?

Obviously they don't want to screw around with their holiday sales....

The loss of HWGA alone could cause a 30% dip in sales!
:pound:

right, December 26, 2011 is the date.

well I guess you make 49 sales, then move on to another account. Very difficult, but not impossible. This could get very complicated running 10-20 stealth accounts, not to mention opening up all those new accounts with the possibility of getting reviewed. The salad days are over. Amazon is gonna take a huge hit on this. Lots of sellers are going to jump ship to ebay.

Very funny....

Since I just heard about Amazons twist on this crap I am reverting back to the Turn & Burn for 1/2 of my accounts.

I guess I will figure out a work around later.
I'm just going to ride the wave till it breaks.

Good luck to all.

Webstore and Tax
 

Anyone got this email?

Thank you

I dont sell on amazon but if you are selling anything other than a couple things a month you are portraying yourself as a business. by doing that you are required to be collecting sales tax for your state. You should have been doing this all along. That all has to be paid into the state level when reporting.

Another real reason to have a business plan and have your business correctly setup instead of what you have.

The problem is third party sellers in amazon donot charge any sales tax.

Does that mean that the watchdogs at seller performance will take it easy with their reviews?

anyone tried to fill out the information and send it to amazon yet?

Seems like there is no way around it this time amazon is asking for all personal information so your legit address seems to be needed.

I tried submitting the info and stopped.

What was the requested info? ^

Not sure about jumping on Ebay.

Ebay seems random regarding this, as in you never know when they will ask.

With Amazon you know they ask after 50 :)

I thought they justed wanted your EIN number? I just got this email on an account as well. I am 100% certain it is because they know it is a stealth account yet they don't have ANY evidence other than the fact that I think I used the same IP to log into a banned account as 1-2 days after I did it I got this email. My other seller account has been a lot bussier than the one that got the notice so I know it has nothing to do with my sales, I won't even touch 10k on that account since I started selling.

I've already got a business with a tax ID. I figure i can just register another one in the name of my amazon account?

Does anyone have all the info they request? If not I will log into my account later and go through the process and log all of it so everyone knows exactly what they are looking for.

Google 1099-k form. Thats what it is.

Also, im interested in what happens so please let us know how that goes.

I just got this same email on an Amazon account. I really thought I was at 47 items with it, but it turns out I'm at 52! It's hard to count the transactions... oh well.