be careful! EBay is about to collect social security numbers from sellers

2022-11-21
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21

Author:Li Kai
Source: ennews

Recently, according to foreign media reports,eBay released an announcement on Monday, emphasizing that eBay must charge a social security number (SSN) or personal tax identification number (ITIN) to sellers whose sales exceed certain thresholds. Subsequently, posts on eBay's seller bulletin boards applied the new IRS tax reporting method.

 

EBay said that, according to the requirements of the U.S. tax reporting law, from January 1, 2022, all online markets and enterprises processing payment businesses (such as eBay) must issue Form 1099-K to sellers with total payments of $600 or more. Previously, only sellers with more than 200 transactions and annual sales of at least $20000 would receive Form 1099-K. The new requirements may affect the 2022 tax return submitted by the seller in 2023.

 

EBay emphasizes that from January 2022,Once the seller's sales reachFor $600 and above, eBay will ask sellers to provide a complete 9-digit social security number (SSN)Or personal tax identification number(ITIN), the seller can only continue in theSell on eBay platform.

 

Later,EBay points out, "If the seller has not provided a complete 9-digit social security number (SSN) or personal tax identification number (ITIN) before, we will remind you in your account and send you an email when you reach the sales threshold, asking you to provide this information." In addition, eBay reminds sellers to protect their privacy at all times to prevent criminals from stealing eBay sellers' information by using the new policy.

 

eBaythinkThis new tax legislation will cause confusion, resulting in excessive reporting of non taxable income, privacy disclosure and other issues.At present,eBayjustEmphasize to the US Congress that this growth willInappropriate influence of small sellers on eBay and urge the US Congress to raise the reporting threshold

 

last,EBay reminds sellers to pay attention to the platform trust policy at all times, and eBay will constantly update relevant information, ExplainPolicy changes, assist the seller in relevant operationsmeanwhileThe seller alsoYou caneBayLearn more aboutForm 1099-K and its pairssellerInformation affected.


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