I found this on line:
Ebay states, any sales over $20,000 and with 200 transactions will be reported to the IRS and You with a 1099-K........Paypal had a the same policy for years.....with one exception ......Paypal did not report your transactions to the IRS via social security number or employer identification number, if your total transaction were under $20,000.......Now with new managed payments system.....all money received goes to your bank account......and guess what.....your bank files with the IRS, all your monies in your account in that year......can you say IRS AUDIT ?......Ebay just put all sellers in the Hot Seat