High Volume Sellers: IRS is Interested

eBay sellers and online merchants are facing increasing regulation as ecommerce moves out of the infancy and adolescence stages and into adulthood. The latest legislation to impact merchants is the Housing and Economic Recovery Act of 2008 recently passed by Congress and signed into law on July 30. PayPal is saying it will begin reporting payment activity to the IRS.

AuctionBytes' Ira Steiner says it appears as if "20" is the operative figure in the latest legislation.