Amazon.com, Inc. (AMZN), eBay Inc (EBAY), Best Buy Co., Inc. (BBY): Three Reasons the Tax Man Still Hasn’t Set You Free

What’s coming
Moreover, more tax increases look likely to hit ordinary Americans in the near future. Amazon.com, Inc. (NASDAQ:AMZN) has been making agreements with an increasing number of states to collect sales tax on online purchases, and a federal law could subject Amazon.com, Inc. (NASDAQ:AMZN), eBay Inc (NASDAQ:EBAY), and other online sellers with the obligation to collect taxes. That has helped Best Buy Co., Inc. (NYSE:BBY) and other competing brick-and-mortar retailers, but it means consumers pay more in overall tax. Technically, most taxpayers already owe uncollected sales taxes to their respective states, but few states enforce those provisions vigorously. With state and local sales taxes representing 12 days’ worth of the average American’s tax burden, increases would have a small but significant impact on many people.

So when tomorrow comes, be sure to celebrate your freedom from taxes for another year. But as you start to earn money for yourself, keep in mind that you could be working even longer for the tax man in 2014.

The article 3 Reasons the Tax Man Still Hasn’t Set You Free originally appeared on Fool.com and is written by Dan Caplinger.

Fool contributor Dan Caplinger has no position in any stocks mentioned. The Motley Fool recommends Amazon.com and eBay. The Motley Fool owns shares of Amazon.com and eBay.

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