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Some of the wealthy got there by selling lots and lots of items that each cost somewhere around $600. Some big businesses started out on amazon or eBay. I don’t know why you are parodying this.
As usual the innocent pay for the scammers/tax cheats. We all know a tax cheat (some who scream the loudest and want higher taxes - as long as it's not on them) and I have no issue with casting the net to make them pay their share but my issue is the net is cast too wide and get the people who are not in business or cheating and simply selling things they no longer need and selling.
Some of the wealthy got there by selling lots and lots of items that each cost somewhere around $600. Some big businesses started out on amazon or eBay. I don’t know why you are parodying this.
More effective would be bank accounts. There are people who operate cash-based businesses. Do you think they report all their income?
I think they did initially require $600 deposit reporting but I think it was changed back. Ask, when casting that net on bank accounts who did it get that it was changed back?
Why do you suppose they went after payments via PayPal etc rather than bank accounts? I wouldn't think it got the rich.
More effective would be bank accounts. There are people who operate cash-based businesses. Do you think they report all their income?
I think they did initially require $600 deposit reporting but I think it was changed back. Ask, when casting that net on bank accounts who did it get that it was changed back?
Why do you suppose they went after payments via PayPal etc rather than bank accounts? I wouldn't think it got the rich.
The intent of the lower threshold was not to go after the rich, it was to go after people making thousands of dollars in income that was never reported or taxed. Why should someone who makes $38,000 per year, $19k from Uber and $19k from Lyft, not pay taxes on that income? I worked with a guy whop was making $15,000 per year selling stuff on eBay, in addition to the $100k salary he made at work. Shouldn't he pay taxes on that eBay income, since it was made selling stuff he bought cheap to resell?
The intent of the lower threshold was not to go after the rich, it was to go after people making thousands of dollars in income that was never reported or taxed. Why should someone who makes $38,000 per year, $19k from Uber and $19k from Lyft, not pay taxes on that income? I worked with a guy whop was making $15,000 per year selling stuff on eBay, in addition to the $100k salary he made at work. Shouldn't he pay taxes on that eBay income, since it was made selling stuff he bought cheap to resell?
I’m pretty sure a person you describe above working for Uber and Lyft immediately would be caught by the IRS due to the job they’re in. The second person may not be but bottom line is even with 80K new agents or whatever you can’t possibly go after every person who has made a 600$ transaction and not reported it because I bet you 70-80% of the US population over age 21 has done that this year
Said it before, will say it again - all this will do is create behavior changes so that people avoid taxes they don't feel like paying. Hauser's Law will remain in effect, no matter how far politicians overestimate the extent of their power.
Americans have "eff the government" baked into their DNA. Sure, that genetic quality exists in differing degrees, but innately, Americans are predisposed to thumbing the nose at the powers that be. That's WHY Hauser's Law is undefeated. It's WHY the Laffer Curve works.
Let them pass their newest bit of tyranny, then spin whatever tall tales they want about it's super badass effectiveness. Won't really change anything at street level. Much ado about nothing.
I use venmo often. If I have a girl's trip, we split the expense and venmo our share of the costs to whoever booked the trip. I have loaned my kids money, I have paid to have my lawn done. I use it for a number of things, none of which have anything to do with my income or theirs.
I’m pretty sure a person you describe above working for Uber and Lyft immediately would be caught by the IRS due to the job they’re in. The second person may not be but bottom line is even with 80K new agents or whatever you can’t possibly go after every person who has made a 600$ transaction and not reported it because I bet you 70-80% of the US population over age 21 has done that this year
I don't believe the 87,000 new agents are to be used for this particular collection. It is all automated through the vendors and requires no IRS agent.
I don't believe the 87,000 new agents are to be used for this particular collection. It is all automated through the vendors and requires no IRS agent.
87,000 new agents are to ramp up the number and frequency of audits among the non-billionaire class that populates the top two income quintiles. Period.
They'll do it in a nice, blanketed and coordinated fashion to make sure there are very few areas where the whole "hey, did you hear who got audited" grapevine doesn't reach. All in an effort to scare you into being dumber and more foolishly generous with your tax return because you fear them coming after you next.
I would also wager dimes to freaking donuts that Turbo Tax, HR Block and all the other "let us prepare your return and for an extra $50, we will protect you from audits" tax preparation services out there are in on the fix. Bet if you follow that thread it would lead to at least 40-50 people in the House and Senate.
I don't believe the 87,000 new agents are to be used for this particular collection. It is all automated through the vendors and requires no IRS agent.
The agents are for the audits. Small businesses, already struggling due to covid shutdowns, lower sales, supply chain issues and inflation, will be targeted as well.
I don't believe the 87,000 new agents are to be used for this particular collection. It is all automated through the vendors and requires no IRS agent.
The 87,000 agents, hired over 10 years, are to replace retiring IRS employees, and get the head count back up to what it was 20 years ago. There's no nefarious plan behind the hiring.
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