PayPal, income, tax ?

[gotys]

Hey guys, I need help on this shit.
When I recieve money into my paypal account, does it become an income that I have to tax right when it hits the paypal, or AFTER I transfer it to my bank?

[toker]

Well after the bank LEGALLY but they could still come after you if paypal reports the transactions i dunno if they do though.

[candidpublishinginc]

Originally posted by toker:
<STRONG>Well after the bank LEGALLY but they could still come after you if paypal reports the transactions i dunno if they do though.</STRONG>

They do not send 1099s, so I don't think they report any transaction.

I know that for all of my webmasters that I send paypal payments to, I'm still responsible for reporting it to the IRS myself.

[kong]

candidpublishinginc,

Are you obligated at all to report anything to the Canadian Government?

Its something I've been thinking of for a while...

-Kong