The Irs Audit question_who can answer
Q.Does Paypal report customers 'revenue to the IRS audit ? Paypal never asked for my SSN or identification number. So how does the IRS know how much you're getting at Paypal?Who or can answer these questions please contact to me
A.They don't necessarily know--they're not omniscient. But they could find out. If they had reason to suspect you of underreporting income, they'd look at your bank records. That's where they'd find out about your Paypal activity. Either you have paypal send you a check, or you have them transfer the funds electronically to your account. Either way, it would show up in your banking records. If ya don't want the IRS to know about your income, get paid in cash. Add on the additional caveat, if you don't want the IRS to know about your income, don't sell on eBay, where records are kept indefinitely of every sale you make. eBay may not have your social security number, but if credit card agencies can cross reference social security numbers with addresses and names, I think it would be a bit silly to assume the IRS can't do the same thing. If you assume eBay wouldn't deliver this information to the IRS any time they asked for it, then I think you'd better assume differently. One poster to this group reported several months ago that when he showed up for an IRS audit, the auditor had a print-out of all his eBay transactions.
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