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If you made money on ebay, deposited to your PayPal, and then spent elsewhere, and did not claim that money on your American taxes, you would be evading taxes b
by criley2 10y ago
If you made money on ebay, deposited to your PayPal, and then spent elsewhere, and did not claim that money on your American taxes, you would be evading taxes by not reporting taxable income.
Same here.
- tyingq 10y agoBut the IRS has not asked for Paypal to dump their entire database of all payments and customers.
- unreal37 10y agoIn fact they do. "Since 2011, PayPal has been required by the IRS to report the sales of goods and services for customers who, in a single year receive: More than $20,000 USD, AND 200 or more payments." [1] https://www.paypal.com/us/selfhelp/article/How-does-PayPal-report-my-sales-to-the-IRS-Will-I-receive-a-1099-tax-statement-FAQ729 https://www.paypal.com/us/selfhelp/article/How-does-PayPal-r...
- tyingq 10y agoThat is a significantly smaller subset than "all US customers and all US transactions". The point is that it's a fishing expedition.
- criley2 10y agoWell sure, they don't need to fish in USD, but they do need to fish in bitcoin. It is what it is, but if I dealt in bitcoin over that period of time, and my returns didn't reflect it, I would be talking to tax attorneys and filing amended returns BEFORE the IRS letters started, not after.