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New ebay payments require SS#?

I received an email from ebay and they now will deposit your amount from a sale directly into your bank account.  So, they require your routing and account numbers.  But they also required my SS number, which I'm not sure I like.  They say the purpose is to comply with government regulations.  Is there any reason to think they would transmit the amount of your sales to the irs and issue you a 1099?  I only occasionally sell used items on ebay and don't consider any amount I receive to be taxable income.  Thoughts? 
mtrot
65 responses Add your response
chicagoblue1977's avatar
chicagoblue1977
224 posts
 
@deadhead1000 perfect name for you.... like I said it was sarcasm. 

And yes I am police and I know how my underfunded pension works here in Chicago. 
Smoke em if you got em. 

mtrot OP
804 posts
 
@markpao What happens in their process is that you first have to give them your routing number and account number to which you want your payment deposited.  After that, they ask for your SS# and there is a statement that it is required to be in compliance with government regulations.
chicagoblue1977's avatar
chicagoblue1977
224 posts
 
@stereo5 That was sarcasm. There are no republicans in Chicago.

Yet you spew a lie as our great mayor has pulled our teeth and then she complains about gang crimes being up.

You can’t have it both ways.

Period. 
mtrot OP
804 posts
 
Please, stay on topic, people.
markpao
519 posts
 
Ebay hasn't asked for my SS number (yet) but wants my bank account password in order to deposit my sales since it doesn't go to Paypal anymore.
Is anyone actually giving out their password to Ebay?
deadhead1000's avatar
deadhead1000
714 posts
 
@ chicagoblue1977

You're not a cop. Otherwise you'd know what defunding actually means, and also that most cops would really appreciate not having to deal with mental illness issues, the homeless and repeat drug addict calls for just three examples. And Gezzz, your pension is a social program, or do you not even understand how your own pension works? 
Post removed 
mtrot OP
804 posts
 
@stereo5 Well, ebay sending out a 1099 and reporting it to the IRS is what I was concerned about. For people who only occasionally sell a used item that they may have owned for a decade or more, I don’t see how that should be taxable income. Now, if you run a business on ebay and support yourself that way, I can see how it might be taxable income. 
The IRS would not be sending out 1099 forms. Rather, it would be ebay that would send the 1099.
How do you know that ebay plans to do this, and do you have a link?
Post removed 
stereo5's avatar
stereo5
6,385 posts
 
I don’t think it is a phishing scam.  eBay plans to have the IRS  send out 1099 forms to people who have sold there and it will be treated as untaxed income.  This was part of the “wonderful” tax revisions that was passed in 2018, I bet many people didn’t read the entire bill (I did).   You remember, the trickle down effect was supposed to help the middle class?  Well, it didn’t. This new “income” will need to be reported next year on your 2021 taxes
mtrot OP
804 posts
 
Guys, it would nice to get one reply that is actually responsive to my post. Please don’t post if you are not on topic. Thanks.

And, it's not a scam or phishing.  The new payment methodology is right there on the ebay web site.
stereo5's avatar
stereo5
6,385 posts
 
@ chicagoblue1977,

You sound like what is wrong with the police.  The police haven’t been defunded, stop lying about it. We Democrats want police reform, particularly in the way people of color and minorities are treated, not defunding.  You speak yet another Republican lie. 
chicagoblue1977's avatar
chicagoblue1977
224 posts
 
Democrats have got pay for all those social programs. 
Defunding the police was not enough. 
BTW I am Police. 
ebm
9,311 posts
 
Pish in hazen.
akg_ca's avatar
akg_ca
2,237 posts
 
Phishing scam 
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