More on the ecommerce tax…
May 19, 2007 · Print This Article
Here’s another good article on the proposal that internet firms be required to collect and report customers’ personal data to the IRS:
IRS Looking To Collect Personal User Data From Internet Firms
by Roni Deutch
The Internal Revenue Service (IRS) is backing the U.S. Treasury Department’s efforts to include a proposal in the 2008 budget requiring many Internet businesses to collect personal data from their users. The proposal is part of an effort to close the ever-present gap between what Americans should pay in income taxes and what they actually do. This amounts to an estimated $300 billion per year. However, collecting the targeted data is going to be a difficult task for the site-operators and small business owners. Furthermore, the process will create security issues for millions of users in a time when online identity theft is rampant.
Tags: ebay tax, income tax, online auctions, irs, tax on ebay
Subscribe to EbizTaxTips.com
Attn: Online Business Owners! Do you want to learn how to minimize your online business taxes?
My free report '5 Tax Saving Tips for Ebiz Owners' includes tips to help you get all the deductions and credits you're entitled to, so you don't overpay Uncle Sam!
Comments
Got something to say?