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  1. #1
    Join Date
    Jan 2006
    Posts
    48

    Gifts over $600 needs to report IRS

    Hi,

    I have read terms and conditions for the NUI and DIY sites and it states that we need to report to IRS if we receive above $600 gifts. But when I read the terms and conditions of YF direct sites it didn’t specify anything about the taxes. So will it be a problem if we give SSN to this people? Is it compulsory to report to IRS people? Did any one do that? Do share your experiences. What’s the process like? And don’t we get the gift until and unless we report to IRS??? Will be helpful for giving valuable suggestions.

  2. #2
    Join Date
    Jan 2006
    Posts
    50

    Re: Gifts over $600 needs to report IRS

    Yf doesnt follow the rules and regulations that other places follow. Not sure why and i do not care.

  3. #3
    Join Date
    Dec 2005
    Posts
    76

    Re: Gifts over $600 needs to report IRS

    Aah, so true!

    To kiran2kirun, why don't you like doing searches? Tax info on these companies have been discussed numerous times.... :rolleyes:

    Quote Originally Posted by ffactoryxx
    Yf doesnt follow the rules and regulations that other places follow. Not sure why and i do not care.
    $600 Recieved | $5600 Waiting 4 Shipment

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