Depends. Scenario 1: Your wife sold a few dresses and a dinette set on e-bay and didn't report it. Unlikely they'll bother with you. No return on investment. Scenario 2: Your wife sells $50-60K worth of stuff a year on e-Bay that she picks up at garage sales, makes a tidy profit, and doesn't report it. Unfortunately she uses PayPal to accept payment. You may have a problem, because she's actually running a small business! When I sold airbrushes at trains shows I had to deal with this, plus state taxes wherever the shows were. They will come after you, but what you usually get is a bill, not a lawsuit. I had to cancel a show once, and because I had filled out the state tax paperwork, I got a bill based on what they assumed I made in their state that year and a penalty. $60.00. A letter made it go away. This was state, not fed, but they work pretty much the same way.I would think the lucrative targets of the IRS agents would be the little guy whose wife sold some items on eBay years ago and didn't pay the income tax on them. It adds up. The taxes due, the fines for late filing, the penalties for no paying, then, if they decide you are attempting to evade tax, you will be charged with tax evasion and the penalty will suddenly become well worth the effort by the IRS agent.
I would think that the eBay sales would be at a loss, probably CL and FB too. On the other hand selling something bright, shiny and brand new could be an issue. If it is a "one of" you might be hanging your rear out there, if multiple you probably are in business which already has ways to reduce the tax liability. Well at least if you are honest about the whole thing. Still, smaller guys might just pay what the tax collector wants as that may be easier than coming up with a paper trail ( money trail also ) to show them.I would think the lucrative targets of the IRS agents would be the little guy whose wife sold some items on eBay years ago and didn't pay the income tax on them. It adds up. The taxes due, the fines for late filing, the penalties for no paying, then, if they decide you are attempting to evade tax, you will be charged with tax evasion and the penalty will suddenly become well worth the effort by the IRS agent.
What I'm sayin is the lucrative part for the IRS is the fine for the charge of Tax evasion. That might be 10s of thousands. Listen to the speech tonight and you should be able to put the picture together.Depends. Scenario 1: Your wife sold a few dresses and a dinette set on e-bay and didn't report it. Unlikely they'll bother with you. No return on investment. Scenario 2: Your wife sells $50-60K worth of stuff a year on e-Bay that she picks up at garage sales, makes a tidy profit, and doesn't report it. Unfortunately she uses PayPal to accept payment. You may have a problem, because she's actually running a small business! When I sold airbrushes at trains shows I had to deal with this, plus state taxes wherever the shows were. They will come after you, but what you usually get is a bill, not a lawsuit. I had to cancel a show once, and because I had filled out the state tax paperwork, I got a bill based on what they assumed I made in their state that year and a penalty. $60.00. A letter made it go away. This was state, not fed, but they work pretty much the same way.
1.4KW per panel - that a typo?I have an app that I can view the performance of my solar panel array, panel by panel. This picture is before the sun is shining on it this morning so the panel output is at a minimal. Typically during the middle of the day each panel is reporting 1.4KW or so.
I noticed one of the panels was under performing by about 1/3 of the others. The panel design is actually three charging areas in each panel, so obviously one of those charging areas has gone bad somehow.
I reported this to my installer a couple days ago. They will be out here this morning to install a replacement pane.
Over on the right edge is some of the reporting data. This system has produced over 26 megawatts since a year ago April. I have a Net Zero meter on the house that reports to the electric company. It runs backward during the day when my excess power is feeding the grid and runs forward at night when I'm drawing from the grid. Right now, the meter shows about 9 MWs to the good. I just picked up my Tesla last week and have used about 200kWh of energy, all from the sun.
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Fine for tax evasion? Well if you're talking about the little guy, doubtful. If they see criminal intent , sure, but it's been my experience with them that they tend to give the little guy the benefit of the doubt and treat such things as a clerical error or a mistake on your part, and provide you with an adjusted payment, which you are free to discuss with them (I have) and it generally works out (it did). Bottom line advice: 1: Don't be a criminal. 2: Pay your taxes. Easy Peasy. Is it a perfect system? Nope. Show me one. As long as there are humans in the equation, that's not gonna happen, but unless you give them the impression that you're involved in some sort of skullduggery, or are demonstrating bad faith, its unlikely you're going to have any problems. That's been my experience after some 51 years in the workforce and five or so years as a small business owner.What I'm sayin is the lucrative part for the IRS is the fine for the charge of Tax evasion. That might be 10s of thousands. Listen to the speech tonight and you should be able to put the picture together.
How do they know what you've sold? Look on your ebay page and you will find the total sales. Match that up to what you reported on your tax return. Oh, IRS has access to that through ebay and you signed that away when you joined ebay. Gotcha.