Tax on Paypal transactions

Discussion in 'PayPal' started by nanosani, Jul 18, 2010.

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  1. #1
    I am using Paypal which is verified in United States. Is there any tax applicable on paypal? How much will it be and how I will pay it? Is there any option in paypal to deduct tax automatically?
     
    nanosani, Jul 18, 2010 IP
  2. IceFurl

    IceFurl Peon

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    #2
    Unfortunately the IRS recently were allowed to access Paypal account records from court.
    And sorry but I don't think there is an option to deduct tax automatically since Paypal isn't part of the US government
     
    IceFurl, Jul 18, 2010 IP
  3. FinalHuntMedia

    FinalHuntMedia Peon

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    #3
    Sales tax differs from state to state and it is your responsibility to pay any sales taxes collected... Just refer to the IRS for a complete breakdown of locations, products / services and what / how to do it.

    Cheers!
     
    FinalHuntMedia, Jul 18, 2010 IP
  4. Master Directory

    Master Directory Well-Known Member

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    #4
    tax will not apply on paypal, but when u pull the money, and irs will investigate where the money coming from
     
    Master Directory, Jul 18, 2010 IP
  5. TravisG

    TravisG Peon

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    #5
    So much for 4th Amendment due process, specific warrants, probable cause, etc. "Gimme your account records" says the highwayman with the government badge, and the website says "Okay" like we're all criminals. Sigh.
     
    TravisG, Jul 18, 2010 IP