Find solution
What is best paypal or alertpay?

PayPal and Alertpay and taxes?

  • Can the government actually track transactions that are made in and out from PayPal? I don't quite remember if we are asked to input SSN numbers when we registered through those sites

  • Answer:

    When you registered, you probably did hand over your SSN. Currently, Paypal and such don't issue you 1099s. The IRS is on the verge of demanding that they do. Currently Paypal and it's ilk will hand over any documents requested by the IRS. They will send you a courtesy letter if your data is included in a John Doe subpoena. (There are tax evaders who hide money in offshore accounts and then access the money via credit cards. The subpoenas asked for any records where such credit cards were used...and many law-abiding sellers were surprised to be part of the data as the other half of the transaction.)

rekz at Yahoo! Answers Visit the source

Was this solution helpful to you?

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.