True gifts. This rule applies only to true gifts. You canât avoid paying income tax by calling something a gift when it isnât. For example, a âgiftâ you receive in exchange for services or some other consideration isnât a gift. Income after gift.
Actually, they can. PayPal will put your account into a negative balance and any funds you add or receive will first go towards that negative amount. If you keep a negative balance for over 30 days, they will send you to collections and close your account.
This was the email I received from paypal... You've received an eCheque payment. An eCheque may take 5-7 working days to clear, so you'll see the transaction status set as 'Pending'. The buyer's bank gets a request to pay PayPal. PayPal receives the funds from the buyer's bank. PayPal will transfer the money to your PayPal account after the funds have cleared and will not be at risk of being reversed by the buyer's bank. Your buyer has sent the payment, but we suggest you wait until the eCheque has cleared before posting the item.