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Those 87K IRS workers are for several tax changes the government made.
The gig workers are also going to get hit next year with tax changes...also part of the "American Rescue Plan".
And the majority of tax audits occur at the $75K tax bracket and below.
The majority of tax audits are also prosecuted based upon a profit motive. If you owe $1k, they're not sending folks to your door. If you owe say $90k, they certainly will. Ask me how I know. Nope not for me, but a client.
Welp, elections have consequences and this is what the left wanted so now we all have to suffer.
Well obviously he's going after the rich, not the average person who is struggling to make ends meet. However, if Joe Biden was going after the little guy, to tax every $600 in cash, he'd need thousands of new IRS agents to track, harass and investigate them.
After all, it's tax fraud if you sell your old Honda car for $800, or deposit money from a friend for baby sitting their kids, and don't include this on your income taxes. Uncle Sam has a right charge you with a income tax evasion and confiscate a butt load of money from you. You freaking tax cheat!!!
The majority of tax audits are also prosecuted based upon a profit motive. If you owe $1k, they're not sending folks to your door. If you owe say $90k, they certainly will. Ask me how I know. Nope not for me, but a client.
Even if the IRS claims you owe them a couple thousand dollars, it would cost you more money to fight it in court. Lawyer fees, time off work, etc... will come to more than a few thousand dollars. They know this, we know this, we know they know that we know this.
You know I am talking about people who make some craft items or sell extras from their garden.
So looting is bad by tax evasion should be celebrated. To be fair, a lot of the looters though probably sell the items they steal so they should at least be half celebrated since they probably don't pay taxes on it.
You know I am talking about people who make some craft items or sell extras from their garden.
I'd hate to see what the Dictator sippy-cup bunker dwelling pedo Joe Obiden does to the sweet little old ladies that make cookies to sell , too supplement their pitifully income.
You know I am talking about people who make some craft items or sell extras from their garden.
That's who I was also referring to in the post directly above yours. Some people who cannot find a job, or are poor, and doing what it takes to survive, This includes baby sitting, selling homemade crafts, fixing up their old car and selling it.
The IRS wants to tax all those small time transactions, and squeeze every little once of flesh from us. The IRS might squeeze a few hundred million dollars from the poor Americans trying to get by. But in their next breath in Congress they will pass a bill, and Biden will sign it, which spends hundreds of billions above what the Treasury received in tax revenue.
So why is it important to tax me for small amounts of money my family might make, baby sitting this year, when congress always spends hundreds of billions more that the Treasury takes in each year?????????
I will bet you that the fraud and waste in Welfare programs is going to be many times more than the taxes the IRS will collect with this new $600 transaction policy. so why not just hire federal employees to monitor and prevent fraud waste and abuse? Simple, there is no power over the people to per acquired by doing that.
Most low income earners don't pay federal taxes. If you are earning enough income to have to write a check to the IRS, then welcome to the club. You are one of the lucky ones!
Many people sell things that are lying around the house. With this new rule, I'd have to give my Social Security number to PayPal just so I can sell a few things lying around the house. I don't trust these tech companies enough to give them my Social Security number.
It's ridiculous and un-American. The presumption of guilt, until you prove yourself innocent.
This was my question. What are they doing with sales from things pulled out of the closet? I did not keep receipts
If I do have receipts and sell it for less creating a loss can I write the loss off?
When I bought carpet to install, I paid sales tax on it. When I sold it, I collected sales tax on it. And in some states, I paid sales tax on my labor.
The mill that made the carpet, paid sales tax on each component they bought to make the carpet.
So everything has sales tax on it numerous times. Nothing new about it.
So you are a carpet installer, what does that have to do with people selling things they no longer want?
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