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Reply to "Biden Administration proposal of more bank reporting to IRS. "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Dude...WTF Biden slipped one by us. He is now requiring all payment VENDORS to report more than $600 in funds to the IRS. [twitter]https://twitter.com/InsideSourcesDC/status/1478852345748463621[/twitter][/quote] 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. [/quote] Y'all cain't take away mah freedom... from sellin' MAGA hats on the eBay and not payin' no tax on it.[/quote] 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. [/quote] 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. [/quote] 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. [/quote] "ANYONE." [twitter]https://twitter.com/CBSEveningNews/status/1646290507511877632[/twitter][/quote] Losing money on a sale is not the same as earning. Is English your first language?[/quote]
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