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Released: May 30, 2010

IRS wants a cut of online sales on eBay, Craigslist

Source: Tom Harmon, Fiscal Times [Washington Post] (Free Registration)

Many people think of online auction sites, such as eBay and Craigslist, as virtual garage sales - a convenient way to clean out cluttered closets and attics stuffed with old clothes, books and knickknacks inherited from Aunt Gladys.

But if you’re a frequent or big-time seller, the government might consider your proceeds to be income and could come after you for taxes.

Read Full Article: IRS wants a cut of online sales on eBay, Craigslist