If you sell on eBay, or if you have an online business, listen up. There are several tax issues in the news right now that could have a huge impact on the way you do business.The first issue, and the one that is getting the most attention, is Congress’s push to get the IRS to force brokers (companies such as eBay and Amazon) to report personal data on their customers.In this proposal, brokers (such as Amazon and eBay) would be required to report names, addresses, and gross proceeds of each customer that completes more than 100 separate transactions and generates more than $5,000 in gross proceeds each year.Most likely, companies will report this information for all of their customers because they won’t know who will meet the criteria above until the end of the year.This proposal could cause problems for smaller companies. Not only will collecting this information be costly, but smaller companies may not have the technology to keep this data safe from hackers. The Center for Democracy and Technology is concerned about the safety of the personal data collected, and rightly so, given how much fraud and identity theft takes place today.The proposal could have […]

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