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
