The Tax Man comes to eBay

Red Bank, April 7, 2009/The FraudBlog Newsletter/- Last year, Congress passed legislation requiring third party payment processors like PayPal, Google Checkout and Amazon to report individuals and businesses that received at least $20,000 a year from credit/debit-card payments from more than 200 transactions. Importantly, this required disclosure is part of the Housing Assistance Tax Act of 2008 and will be in effect in 2011.