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Thread: A Method to Disrupt Paypal's Practices... I Hope!!

  1. #1
    Unregistered Guest

    Default A Method to Disrupt Paypal's Practices... I Hope!!

    This only works if a majority of Paypal customers, who have paid their taxes & are not involved in skirting taxes between wholesale & retail or any other shady activities. This majority of Paypal users, could send Paypal a 1099 for the total of Fees they were charged in the 2013 tax year. Sure, Paypal has paid taxes on these fees but they are not itemized on the individual level like the 1099's they would receiving come January.


    Ideally if a majority, (e.g. 2,000,000 accounts) of Paypal customers were to submit 1099's to Paypal, the unimaginable volume of individual forms would cause a severe disruption to Paypal's day to day activities, their accounting, tax filings, & hopefully there would be enough attention drawn to Paypal from all of this,that IRS, bank regulators, attorney generals, & lawmakers would take a look at Paypal's conduct & do something about it.

    In any case, I'm sure we'll be submitting a 1099 for roughly $400.00 for the 2013 tax year...

    1,000,000 Paypal accounts x $400.00 = $400,000,000.00 USD in individual 1099 forms!!??!?

    I don't care who you are, the IRS will want a full accounting for that much money & lawmakers will not let that pass unnoticed. In any event, I see no other avenue to stop this horrible conduct.

    Steve

  2. #2
    Unregistered Guest

    Default

    anything is worth a try to bring down those bastards. Thanks Steve!!

  3. #3
    Unregistered Guest

    Default Questions on your 1099?

    I think you have a wonderful idea here. Mainly because it gets very competent eBayers and sellers to think in terms of Increasing their Balance Sheet and presence! God forbid you make more money in the future and pay taxes. I may submit a 1099 for some small token ebay gains this year, but would it be valid to submit 1099s for all fees for the year outright? For example, say I bought and sold the same thing on ebay for about the same price. Aren't all my ebay auction and listing fees and paypal fees paid that year reportable as 1099 income to ebay?

  4. #4
    Join Date
    Jan 2014
    Posts
    210

    Default

    thats actually a very good move, and in theory it should work, the problem arises when you're to get that level of organization and committment, maybe a socail media campaign.

  5. #5
    Join Date
    Jan 2014
    Posts
    309

    Default

    This is an excellent idea. The IRS, auditing firms, companies and governments would actually look into this specially with the Aid of Media. The problem is when paypal hides or is somehow able to cover this up and I'm assuming it's possible then there would be no big issue whatsoever and they win again?

  6. #6
    Join Date
    Jan 2014
    Posts
    347

    Default

    Don't even try, guys. This proposal is hilarious and flawed in many ways. Do you really think Paypal has to hand over $400 per person? And do you even think there are that many people who have a problem with Paypal?
    Even if there were, Paypal would have a way in which they are not required to supply the forms.
    And even if they had to supply the forms, it would take them not more than 20 mouse clicks to generate this report for every customer.

  7. #7
    Join Date
    Feb 2014
    Posts
    163

    Default

    In all honesty I'm willing to do anything to stick it to those sons of so and so's, they cost me my business and almost my house, I want them to pay for all that and more.

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