Beginning at the start of 2011 the laws regarding the reporting of electronic transactions changed. If you accept credit cards using a merchant account or if you accept payments via PayPal you should know that under many circumstances the income will be reported to the IRS. Failure to claim the revenue on your taxes can draw extra attention from the IRS; something even the most honest person would like to avoid.
If you accept payments via PayPal this could apply to you:
https://www.thepaypalblog.com/2008/0...ts-become-law/
If you have a merchant account that allows you to accept credit card payments this will impact you:
http://taxes.about.com/od/businessta...dreporting.htm
It will be interesting to see what impact, if any, this has on reptile prices.
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