This will begin next year for any states that haven’t already lowered the total.
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Thanks. I should have included this article.
Bruh
Yeah, we had a topic already on this. Merged all the posts into the main one.
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This will be the only political thing I say: I sincerely dislike how so many Congress people again and again put things into ‘must pass’ bills that have nothing to do with the actual bill. If we had any semblence of an actual functioning government this would be the highest priority to shut this type of trash down.
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You can discuss the bill without being political about it. I don’t disagree with what you say here, there is usually a lot of what they call pork in these bills. This however sort of does have to do with it though. The tax revenue from this provision will help pay for the 1.9 trillion dollar relief bill
Pork barrel spending… that’s what you’re referring to. Yes, sometimes it’s absurd but at times it’s the only way to get the other side (whichever opposes the same bill) to pass. In a dominant two party system, it’s the only way they actually pass anything. If they didn’t allow pork barrel spending, our government wouldn’t end up passing anything…
Okay, on with the topic… what’s the topic again? Oh yeah, pay your taxes. 
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A hung government is always the best government. If they cannot pass anything, they cannot screw things up even more.
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Here’s why good 'ol agentpoyo doesn’t mind paying taxes. If I’m paying taxes, that means I must be doing something financially right, it means I’m making money. The last time I didn’t have to pay taxes was when I was flipping burgers at Hardee’s back in my high school days… and I was eff’in broke too…
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We’re talking about politicians right? Nope, they’d find a way to screw it up still. 
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Sorry about that. I didn’t look hard enough for other related topics
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Ok, I’ve been meaning to go back and read all of these comments here, but I’m hoping for the sake of saving time I can ask a question that probably has already been asked:
Will they start charging taxes on your sales from 2021, or when this goes into effect will start charging your sales from 2022?
You should already being reporting and paying taxes on any sales period. This new law just states that places like eBay have to send the forms to the IRS when you hit $600 in sales. It was previously a much higher dollar amount before they had to report it.
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Thanks Todd. Appreciate the insight! I never even thought to report sales before since subconsciously I thought eBay was a very casual place to sell.No excuse, but I think I should be more diligent now.
Actually, @ToddW , does this new law go into effect for sales in 2021 or 2022?
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I think it goes effect next year.
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The other thing is we don’t even know yet how they will treat this. Is is a capital gain or do we file a schedule C like we have a small business. I don’t know how the other members prepare their taxes here.
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How do you file your eBay sales?
Actually it would be Paypal you use to report sales. eBay until recently (before they took over managed payments) would not have to report sales as they were just the proxy between you and the buyer and the payment system (Paypal). But yes, now that eBay is collecting the money and then paying you after the transaction is completed, they will be likely complying in reporting any sales above $600 on a yearly basis.
So yes, if you casually sell things on eBay as if it were a garage sale, you’re likely not gonna hit the $600 mark.
But most seem to forget that the IRS doesn’t normally care about “garage sales” since most people are just using it to get rid of stuff and selling at a complete loss. That $100 table you’re selling for $5 is not really in the IRS best interest in collecting taxes on the sale, they understood you’re just getting rid of junk. But however, when it comes to eBay and people selling hundreds of thousands of dollars now per year as side hustles, that’s just flat out income and yes, pay your taxes.
I’m not a tax professional or lawyer, so if you have real questions, seek out a professional. That’s the only other advice I can give to others besides “pay your taxes due”… because you don’t want the tax man cometh for you!
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