IRS To Aggressively Tax Internet Purchases

The IRS’ recent order for full record disclosure to Paypal is part of a larger movement to tax purchases and monetary transactions over the Internet.

Now that Internet sales and transactions are a $100 billion a year industry, the usual suspects — senators and congressmen — are eager to get a cut to pay for their $1000 hammers and other pork barrel purchases.

Although a 1992 ruling determined that states taxing each other remotely on out-of-state purchases violated a Constitutional interstate commerce clause, Senators are eager to pass a law allowing exactly that into Federal law, cutting into your buys at times of purchases.

We suppose it was only a matter of time before the IRS went after the tax dollars on the Internet, but we’re smarting a bit that in the near future we might actually be taxed on the remaining volumes of the complete memoirs of Don Juan. We only have ten volumes left to buy!

Feds and States Look For New Ways To Tax The Internet [Consumer Affairs]

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