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Old 03-15-2014
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Default IRS Reporting with Stealth account - How Does This Work

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)!
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Old 03-15-2014
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Default Re: IRS Reporting with Stealth account - How Does This Work

Quote:
Originally Posted by banchor View Post
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.
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Old 03-15-2014
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Default Re: IRS Reporting with Stealth account - How Does This Work

spread your sales over numerous accounts

stay under radar
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