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Taxation & Estate Planning

: TaxProf Blog

IRS to Start Tracking Online Merchants' Sales in 2011

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Beginning on January 1, 2011, merchants receiving over $20,000 in credit card, PayPal, and other forms of third-party payment transactions in a year must report the gross amount of the payments to the IRS on new Form 1099-K: IR 2009-106, IRS Issues Proposed Regulations on Reporting Requirement for Payment Card...

Full post as published by TaxProf Blog on March 15, 2010 (boomark / email).

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