Attention! eBay will soon require sellers to have their Social Security numbers

Recently, according to foreign media reports, eBay issued an announcement on Monday, emphasizing that eBay must collect Social Security Numbers (SSN) or Individual Tax Identification Numbers (ITIN) from sellers whose sales exceed certain thresholds. Subsequently, posts on eBay seller bulletin boards applied the new IRS tax reporting law.

eBay said that according to the US tax reporting law, starting January 1, 2022, all online markets and businesses that process payments (such as eBay) must issue 1099-K forms to sellers with a total payment amount of $600 or more. Before this, only sellers with more than 200 transactions and annual sales of at least $20,000 would receive 1099-K forms. The new requirements may affect sellers' 2022 tax returns filed in 2023.

eBay emphasized that starting from January 2022, once a seller's sales reach US$600 or more, eBay will require sellers to provide a complete 9-digit Social Security Number (SSN) or Individual Tax Identification Number ( ITIN) . Sellers can only continue to sell on the eBay platform after submitting the number .

Subsequently, eBay pointed out that "if the seller has not previously provided a full 9-digit Social Security Number (SSN) or Individual Tax Identification Number (ITIN), we will remind you in your account and send you an email requesting this information when you reach the sales threshold." In addition, eBay reminds sellers to always protect their personal privacy to prevent criminals from taking advantage of the new policy to steal eBay seller information.

eBay believes that this new tax legislation will cause confusion, excessive reporting of non-taxable income, privacy breaches and other issues. Currently, eBay is emphasizing to the U.S. Congress the undue impact this increase will have on small sellers on eBay and urging the U.S. Congress to raise the reporting threshold .

Finally, eBay reminds sellers to always pay attention to the platform policy. eBay will continue to update relevant information , explain policy changes, and assist sellers in related operations . At the same time , sellers can also learn more about the 1099-K form and its impact on sellers in eBay 's FAQ .

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