Biden & Dems Look To Squeeze More Taxes From You, Spy On Your Spending

Wally

Wally

BrownCafe Innovator & King of Puns
This is designed to focus on the little guy using apps to make transactions. Anything over $600 a year will now be reported to the IRS. Anyone doing side gigs will get a 1099 for anything $600 as well so now the kid walking dogs for some extra cash is forced to file.

Democrats pushed this bill through with Zero Republican votes.

www.dailymail.co.uk

Payment apps will now have to report transactions to IRS

The IRS is cracking down on payments made through third-party apps, requiring platforms like Venmo, PayPal and Cash App to report transactions if they exceed $600 in one year.
www.dailymail.co.uk www.dailymail.co.uk
 
P

PT Car Washer

Well-Known Member
Wally said:
This is designed to focus on the little guy using apps to make transactions. Anything over $600 a year will now be reported to the IRS. Anyone doing side gigs will get a 1099 for anything $600 as well so now the kid walking dogs for some extra cash is forced to file.

Democrats pushed this bill through with Zero Republican votes.

www.dailymail.co.uk

Payment apps will now have to report transactions to IRS

The IRS is cracking down on payments made through third-party apps, requiring platforms like Venmo, PayPal and Cash App to report transactions if they exceed $600 in one year.
www.dailymail.co.uk www.dailymail.co.uk
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$600 to walk a dog? You live in Beverly Hills? Mostly about catching drug dealers.
 
Lineandinitial

Lineandinitial

Legio patria nostra
PT Car Washer said:
Mostly about catching drug dealers.
Click to expand...
Because most drug dealers only use Pay Pal, Venmo????
You should read more.
Some old lady in the government stated numerous times that there are transactions that are going untaxed. They’re after legitimate small businesses. Then, mysteriously the story dried up and the law just went into effect.

Try to pay the Mexican cutting your grass via PayPal!

FJB
 
Up In Smoke

Up In Smoke

Well-Known Member
Original law was signed by the Eisenhower/Nixon White House. Too many tax dollars are not being recorded properly. Legit business owners made to pick up the slack.
 
Wally

Wally

BrownCafe Innovator & King of Puns
PT Car Washer said:
$600 to walk a dog? You live in Beverly Hills? Mostly about catching drug dealers.
Click to expand...
Per year total. So now some local yokel tryng to earn a few bucks on the side has to file, pay state, local. And social security.

So much for dems being for the little guy and gal.
 
DriveInDriveOut

DriveInDriveOut

Inordinately Right
Wally said:
Per year total. So now some local yokel tryng to earn a few bucks on the side has to file, pay state, local. And social security.

So much for dems being for the little guy and gal.
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It's just a pretense to give more power to the IRS.

We've seen how the Democrats weaponize it against conservatives.
 
Babagounj

Babagounj

Strength through joy
I'll have to start using these services to pay all of my local taxes.
Good way to keep all those hack employees honest.
 
Up In Smoke

Up In Smoke

Well-Known Member
Wanting to enforce laws that have been on the books for 60+ years and collect legit taxes is somehow now an attack on the little guy.
 
M

Mr. Marshall

Well-Known Member
Everyone I know on disability has a side hustle because disability does not pay enough so this will be trouble for them. My wife resells shoes etc. but we already file taxes on her earnings just because I like to complain about taxes so I feel I should actually pay them. That said we all knew there wasn't enough rich people to pay for everything so it's about time everyone starts paying their fair share.
 
Wally

Wally

BrownCafe Innovator & King of Puns
Up In Smoke said:
Wanting to enforce laws that have been on the books for 60+ years and collect legit taxes is somehow now an attack on the little guy.
Click to expand...
But yet the government is not interested in illegal's earning tax free and shipping a lot of it out of the US?
 
oldngray

oldngray

nowhere special
your-puns.jpeg
 
upsgrunt

upsgrunt

Well-Known Member
Up In Smoke said:
A babysitter under the age of 18 is exempt from tax withholdings. After 18, I believe the threshold is around 12k before a 1099 would be required.
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turbotax.intuit.com

At What Income Does a Minor Have to File an Income Tax Return?

Even if your kids are young enough to be your dependents, they may still have to pay taxes. In some cases, you may be able to include their income on your tax return; in others, they'll have to file their own tax return. The need to file depends on both the amount and source of the minor's income.
turbotax.intuit.com turbotax.intuit.com

I believe you are wrong.

I still have kids on my phone plan that pay me their share via the cash app. Am I supposed to pay taxes on that reimbursement?
 
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