Hard to imagine the astute folks at the Internal Revenue Service took ten years to be shocked, shocked to find income being generated on the online phenom, eBay -- where a mere 34 million taxpayers are registered.
You've now been warned ...
Unfortunately, the tax code is at its foggiest regarding money made selling goods over the 'Net. One woman's hobby is another's job. Go figure -- with a professional, please!
Based on past history, the IRS will pick a couple of miscreants and make a public stink, ending with a trial. This is supposed to educate the public to cough up the IRS' full measure of revenue. I wish them good luck (and state up front I have nothing to hide).
Peter S. Kastner
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