This has nothing to do with the IRS. You will be getting a telephone call from Paypal asking for your IRS account number so they can start reporting your sales. This is just one more move on Paypal's part to protect the buyer to extremes while treating the sellers like crap. In the mean time, they rake in a few million more while they hold your money. The eBay / Paypal twins took 31% of my gross last month. Let's see, my normal markup is double. So, If I sell an item for $100. that costs me $50. and pay the twins 30% of the gross which includes the shipping, that leaves me with a cool $20. For that measly amount I have to put up with a lot of nonsense. Let's see what happens if the buyer just bought it to wear to the prom or try it out and return it. The twins ding me for the full price of the sale PLUS the outbound shipping. I get a used item back. I'm left with nothing for my efforts and have a used product that I can not sell. But, guess what? eBay and Paypal don't refund any part of their fees on returns and that coupled with the return postage deal, costs me a whole lot more than the tiny profit that I originally pocketed. That is a huge loss any way that you look at it. Hey, what did you expect? They know that they have you over a barrel and they will stick it to you any way that they can untill you learn how to "JUST SAY NO". I'm through trading dollars while they get rich and I meek out a minimal profit for a lot of work. I'm closing my accounts, you do whatever you can live with.
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