Posts by Douglas Hughes3

Zachary Peterson6 said:Look, just for identification purposes—I don't see why you're making such a big deal about sharing some info. It's your money regardless, and you have to show ID at the bank anyway...

I guess I’m just thinking about a situation I actually dealt with recently. I was trying to sell an old laptop for maybe $500 through some kind of buyback service.
My concern is, what happens if the IRS comes knocking? How am I supposed to explain where that $500 suddenly came from...

Zachary Peterson6 said:The new policy is that we have to provide a Social Security number or a driver's license number for all payouts.

I’m wondering, what’s the actual point of handing over our SSN now? What happens if someone accidentally enters the wrong info?

I was using an online marketplace to sell some old stuff I just didn't need anymore, and with
the buyer, we agreed that they’d pay via cash on delivery. After
a few days, the mailman showed up with the cash, but then he tells me he can't actually
hand over the money because he needs my Social Security number—apparently, it's some new rule...

What's the deal with needing to hand over our SSN for this? And what happens if someone provides the wrong one?