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I know of plenty of cash only bars, hair and nail salons and service workers like nanny’s and housekeepers. I wonder if with Biden’s new IRS, if these are the very people who will be audited.
That's it then isn't it?
Liberal, progressive socialist democrats only want IRS to increase auditing of the "wealthy", but leave their base alone. This of course is rubbish as everyone knows there is big money in underground/cash economy.
If IRS increased auditing of just a small percentage points over small businesses, independent contractors
and gig workers there would be plenty missing their last trains.
On another note same is why so many get their faces cracked when applying for "affordable" or "low income" housing lotteries. When you're on your own how you make monthly nut is largely your own business. But when called by city or whoever to prove can pay "X" rent per month on paper, people back out.
People don't realize agencies or whoever aren't stupid. You're saying income is "X" per month, but current spending easily is "Z", where is all that extra coming from?
I know he hired more people but if someone were to count the amount of service workers who got paid in tips this year vs the amount of people on his team..im not a mathematician but I think the service workers still out number them. Just my option. We can see how the man hunt unfolds
Liberal, progressive socialist democrats only want IRS to increase auditing of the "wealthy", but leave their base alone. This of course is rubbish as everyone knows there is big money in underground/cash economy.
If IRS increased auditing of just a small percentage points over small businesses, independent contractors
and gig workers there would be plenty missing their last trains.
On another note same is why so many get their faces cracked when applying for "affordable" or "low income" housing lotteries. When you're on your own how you make monthly nut is largely your own business. But when called by city or whoever to prove can pay "X" rent per month on paper, people back out.
People don't realize agencies or whoever aren't stupid. You're saying income is "X" per month, but current spending easily is "Z", where is all that extra coming from?
You know, I don’t doubt that Biden’s administration would love to get their hands on big wealthy corporations or on individuals like Jeff Bezos who are wealthy. The problem that the IRS will have is that they will be met with tax attorneys who will fight to the core so that they won’t have to pay a dime. The fight in itself will not be worth it as it’ll wind up costing the IRS more. Instead, the IRS will focus on cash only individuals and on other middle incomers who will not have the means to hire expensive tax attorneys.
It’s a reasonable conclusion since the new auditor armed IRS jobs do not require a taxation background. All you need is a masters degree. Plus the starting salary is only 50k and goes up to a measly 80+k. Maybe for some people that may be a good salary but my point is that no experienced tax person who can fight against the Goliath of corporate tax attorneys will take the job. They’re used to at least six figures. Plus why do auditors need to be armed to go after the Jeff Bezos? It’s not like he’s going to lose it and take out his gun and have a shootout. That’s for the lower income people who will lose it once they realize that they can’t pay their car payments or mortgage due to this taxation.
All of the people who supported the excessive spending with the war in Ukraine, the stimulus checks, the bailout of big business and now the more recent student loan forgiveness are going to find out how expensive it all was.
Some of the large pharmacies (like CVS or Walgreens) in Queens are open 24/7 but the pharmacy section is only open during set daytime hours. But a person can go anytime to buy something and do cashback (I think at CVS the limit is $40) at any hour of the day.
Storm gal gets it. It’s even be discussed by his administration tax cheats who are caught aren’t counted as having their taxes raised making less than 400k. They will target these industries.
This is what was voted in. So audit everyone in these cash industries so we can all pay our fair share. They can go back years and impose penalties and interest on top of it.
Some servers/bartender can make 500 a day cash in a upscale restaurant. Imagine a 100k tax free salary. How you afford anything on paper is impossible to prove. Pay up.
Listen no one is going to stop how people decide to tip is all I’m saying…..cash, cards, no tip at all. You can’t regulate a person and how they tip it’s to their discretion so is the amount
I understand (I don't really use cash either unless forced to) but it's still a very cash intensive city relative to the rest of the country. That's not an opinion. It's just a fact.
Only because we have a big immigrant population, which tends to unbanked, but the higher the income level, the less tendency there is to use cash. Personally, I only use cash to pay my barber, who prefers it. Sometimes I forget though and pay with a card, including the tip. Not a fan of cash because of the germ factor.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I have never seen an indoor lobby ATM, except those little ones at the 7-Eleven. Our Chase, Wells Fargo, B of A etc. all have a drive-up ATM, and they are open 24/7.
I'd say 4/5 places I go to don't take credit cards- and if they do, the minimum is $25 per transaction and they won't hold cards.
I don't fault them.
Moves things along quite faster.
Some on here are just interesting people. NYC still has a sizable cash economy. I thought that was quite obvious.
The IRS going after waiters with tips is a non starter. Virtually impossible to locate and associate that information.
On the other hand, "gig" workers who work on 1099s, are fair game. I doubt most pay even close to what they owe in quarterly taxes.
Small and medium businesses will have a target as well.
Taking deductions isn't illegal. It's up to the IRS to tell you if it's legitimate. I surmise there are many deductions that are, shall we say, questionable.
I think the IRS should be automating and working to develop AI instead of hiring more useless people that suck up taxpayer money but there is definitely enough tax evasion ane fraud (at all wealth levels) to justify more manpower.
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