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Reposting a comment from an earlier Hacker News thread on this issue: The good news is that purchases made with a credit or debit card will be exempt from this
by Anechoic 16y ago
Reposting a comment from an earlier Hacker News thread on this issue:
The good news is that purchases made with a credit or debit card will be exempt from this requirement. However this requirement is still likely to be a huge pain for me at least because I use PayPal for a lot of vendors for totral purchases over $600 in a year.
The IRS is accepting comments on this requirement at http://www.irs.gov/newsroom/article/0,,id=225029,00.html http://www.irs.gov/newsroom/article/0,,id=225029,00.html
- SkyMarshal 16y agoWhat an amazing, and obvious, handout to the credit card companies. Unbelievable.
- roboneal 16y agoI suspect the implications are credit card transactions can be audited by the IRS anyway.
- SkyMarshal 16y agoI figured that too, still a huge political windfall for them. I see stuff like this and it makes me redouble my commitment to groups like fixcongressfirst.org.