BikeList joins 1099k Fairness Coalition

For the past few weeks we've been speaking with lawmakers in DC about changing a not-so-good tax policy that's going to affect online seller's lives next year. Many of BikeList's members who used to be considered casual sellers may now need to report marketplace income to the IRS. In many cases this does not mean there are additional taxes owed (disclaimer: please consult a tax professional!) but it generates quite a bit of confusion for the infrequent seller and extra paperwork for marketplaces like us!

BikeList in the news again

We were featured in a recent News Story in GeekWire that nicely summarizes the issue.

How BikeList and our friends are trying to head off a tax headache

Through the 1099k fairness coalition, we've been meeting virtually with policy advisors to elected officials from across the country. In these briefings, the large marketplaces like eBay and Etsy paint a picture of the sheer number of additional tax forms that will be generated under the new policy and we describe how the cyclists looking to sell a single bike on our marketplace will be impacted. There's solutions to fix this issue before January and still time left to update the policy before tax documents are mailed out in early next year.

How you can help stop this tax policy change

20 seconds of your time. Fill out this simple form which will send a letter to your representative in DC. But you gotta do this now. It will be too late come January.

Drop us a note and let us know if you have anything to share about how this affects you. We'll make sure your voice is heard.