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"Housing Bill" Affects E-commerce Merchants

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    "Housing Bill" Affects E-commerce Merchants

    Dear All,

    A little tidbit of information. Probably does not affect a lot of us, but some of you will be affect by this:

    <-----SNIP----->

    Starting in 2011, the "bank or other company that processes" a
    merchant's debit and credit card transactions must send the Internal
    Revenue Service a form disclosing the dollar amount of payments the
    merchant received on those cards each year.

    <-----SNIP----->

    To read the whole story:

    http://www.asmallurl.com/Al
    Thank You,

    Nerd Boy

    http://www.nerdboyinc.com

    1-855-Nerd-Boy

    #2
    Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

    I don't think this will affect anyone other than Joe Sixpack selling more than $20K/year on eBay. All of us "real businesses" already report our revenues to the IRS so nothing changes there one bit.

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      #3
      Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

      Originally posted by dotCOM_host View Post
      I don't think this will affect anyone other than Joe Sixpack selling more than $20K/year on eBay. All of us "real businesses" already report our revenues to the IRS so nothing changes there one bit.
      Agreed. If you're going to be in business, you should be paying your taxes.
      Jason Fancett
      America's SPA-MART - "Where Spa Owners Shop SMART!"
      Check us out for all of your hot tub needs including spa covers, spa filters, spa chemicals and more.
      Miva Merchant forum users can use coupon code MIVAFORUM to receive $5 off your first order of $30 or more.

      Comment


        #4
        Re: &quot;Housing Bill&quot; Affects E-commerce Merchants

        Correct, if you should be paying taxes you should not have any issues
        Mike Wolbert
        Email: [email protected]
        SpiderWeave.com
        Helping businesses maximize their online presence
        Website: http://spiderweave.com/miva/
        Twitter: http://twitter.com/spiderweave
        East Stroudsburg, PA.
        Toll Free: 866-932-2644 ext 210

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