Biden Administration proposal of more bank reporting to IRS.

[Anonymous]

Wrong again, MAGA dolt. For example, in the UK, anyone making under 50K pounds a year (about $68K) pays 20 percent. https://www.gov.uk/income-tax-rates

Don't forget the VAT..

[Anonymous]

Anonymous wrote:

Wrong again, MAGA dolt. For example, in the UK, anyone making under 50K pounds a year (about $68K) pays 20 percent. https://www.gov.uk/income-tax-rates

Don't forget the VAT..

that's true... Consumer goods cost more, but under the European model where people having access to healthcare and university education is, y'know... a good thing, for everyone... a la "a rising tides lifts all boats"... people are generally way better off...

Americans are getting reamed and don't even know it.

But, even so, MAGA!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Wrong again, MAGA dolt. For example, in the UK, anyone making under 50K pounds a year (about $68K) pays 20 percent. https://www.gov.uk/income-tax-rates

Don't forget the VAT..

that's true... Consumer goods cost more, but under the European model where people having access to healthcare and university education is, y'know... a good thing, for everyone... a la "a rising tides lifts all boats"... people are generally way better off...

Americans are getting reamed and don't even know it.

But, even so, MAGA!

I am NO MAGA supporter but why do t you take all your friends and all the MAGA types you can find and go over there. We who remain will be better off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Wrong again, MAGA dolt. For example, in the UK, anyone making under 50K pounds a year (about $68K) pays 20 percent. https://www.gov.uk/income-tax-rates

Don't forget the VAT..

that's true... Consumer goods cost more, but under the European model where people having access to healthcare and university education is, y'know... a good thing, for everyone... a la "a rising tides lifts all boats"... people are generally way better off...

Americans are getting reamed and don't even know it.

But, even so, MAGA!

I am NO MAGA supporter but why do t you take all your friends and all the MAGA types you can find and go over there. We who remain will be better off.

OK

[Anonymous]

Anonymous wrote:This is a good thing as it will bust those with irregular income who underreport during tax time.

You mean like your three dollars/hr (plus tips) restaurant/bar server?

And your cleaning ladies and baby sitters who are being paid of the books?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a good thing as it will bust those with irregular income who underreport during tax time.

You mean like your three dollars/hr (plus tips) restaurant/bar server?

And your cleaning ladies and baby sitters who are being paid of the books?

*OFF

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS.

Of course.

This is the new surveillance state. Brought to you courtesy of the Democratic Party.

He doesn't trust the citizens. Must keep a close eye on them.

Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.

I don't need my side hustles taxed for his free social welfare propaganda. They're hustles for a reason. Pay for your own damned childcare.

I just bought a new printer for my brother. He is going to Venmo me the money to pay me back.
The more transactions one has like this, the more questionable they appear - even though they are totally legal and innocent.
But, under these new rules, it will be incumbent on ME to prove they are legal and innocent.
It is a total pain in the a$$ and totally unnecessary.

Does nobody read the articles?

The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS.

Of course.

This is the new surveillance state. Brought to you courtesy of the Democratic Party.

He doesn't trust the citizens. Must keep a close eye on them.

Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.

I don't need my side hustles taxed for his free social welfare propaganda. They're hustles for a reason. Pay for your own damned childcare.

I just bought a new printer for my brother. He is going to Venmo me the money to pay me back.
The more transactions one has like this, the more questionable they appear - even though they are totally legal and innocent.
But, under these new rules, it will be incumbent on ME to prove they are legal and innocent.
It is a total pain in the a$$ and totally unnecessary.

Does nobody read the articles?

The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

And, how does the vendor like Venmo or the IRS know what the transaction is for?

[Anonymous]

Anonymous wrote:

Wrong again, MAGA dolt. For example, in the UK, anyone making under 50K pounds a year (about $68K) pays 20 percent. https://www.gov.uk/income-tax-rates

Don't forget the VAT..

And the national insurance tax of 12%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS.

Of course.

This is the new surveillance state. Brought to you courtesy of the Democratic Party.

He doesn't trust the citizens. Must keep a close eye on them.

Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.

I don't need my side hustles taxed for his free social welfare propaganda. They're hustles for a reason. Pay for your own damned childcare.

I just bought a new printer for my brother. He is going to Venmo me the money to pay me back.
The more transactions one has like this, the more questionable they appear - even though they are totally legal and innocent.
But, under these new rules, it will be incumbent on ME to prove they are legal and innocent.
It is a total pain in the a$$ and totally unnecessary.

Does nobody read the articles?

The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

And, how does the vendor like Venmo or the IRS know what the transaction is for?

Venmo’s website says it will have a tag for the sender to click if the money is payment for goods or services.

https://help.venmo.com/hc/en-us/articles/4407389460499

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS.

Of course.

This is the new surveillance state. Brought to you courtesy of the Democratic Party.

He doesn't trust the citizens. Must keep a close eye on them.

Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.

I don't need my side hustles taxed for his free social welfare propaganda. They're hustles for a reason. Pay for your own damned childcare.

I just bought a new printer for my brother. He is going to Venmo me the money to pay me back.
The more transactions one has like this, the more questionable they appear - even though they are totally legal and innocent.
But, under these new rules, it will be incumbent on ME to prove they are legal and innocent.
It is a total pain in the a$$ and totally unnecessary.

Does nobody read the articles?

The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

"ANYONE."

[Anonymous]

y'all understand, people use these platforms to commit crimes, right? And usually, we want to lasso the criminals, right? So people affecting such transactions on these platforms who are doing it legally should have no issues with filling out these forms.

[Anonymous]

Anonymous wrote:y'all understand, people use these platforms to commit crimes, right? And usually, we want to lasso the criminals, right? So people affecting such transactions on these platforms who are doing it legally should have no issues with filling out these forms.

They also use the platforms to pay back money for tickets and other things that have nothing to do with crime or income.

It is a total PITA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:y'all understand, people use these platforms to commit crimes, right? And usually, we want to lasso the criminals, right? So people affecting such transactions on these platforms who are doing it legally should have no issues with filling out these forms.

They also use the platforms to pay back money for tickets and other things that have nothing to do with crime or income.

It is a total PITA.

I'm looking forward to carrying around a ton of cash to cover tickets/dinners/tips/etc... just for the 90s nostalgia.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS.

Of course.

This is the new surveillance state. Brought to you courtesy of the Democratic Party.

He doesn't trust the citizens. Must keep a close eye on them.

Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.

I don't need my side hustles taxed for his free social welfare propaganda. They're hustles for a reason. Pay for your own damned childcare.

I just bought a new printer for my brother. He is going to Venmo me the money to pay me back.
The more transactions one has like this, the more questionable they appear - even though they are totally legal and innocent.
But, under these new rules, it will be incumbent on ME to prove they are legal and innocent.
It is a total pain in the a$$ and totally unnecessary.

Does nobody read the articles?

The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

"ANYONE."

Losing money on a sale is not the same as earning. Is English your first language?