Posted on 12/10/2022 6:41:42 AM PST by RandFan
@SenThomTillis
The IRS should not have the authority to monitor the bank accounts of hardworking Americans. This new $600 Venmo rule is just another way for the Democrats to force Americans to foot the bill for their reckless tax and spending spree.
(Excerpt) Read more at twitter.com ...
Cornyn just re-tweeted Tillis' complaint.
From memory I believe both voted to proceed and break filibuster/voted for this measure to pass.
Hypocrites.....
How do they get away with it?
If it is INCOME then it should be reported, if it is simply a private sale or purchase, no. Fair is fair, if income is taxable, which it is and different topic about whether we should have taxes, then everyone should report and pay their fair share. Tax evasion is wrong, especially wrong answer to whether we should have taxes and how much. And yes, tax cheats should be prosecuted.
Yes, indeed! They’re both liars like the others.
They’re not so much hypocrites as they are democrats. Voters who don’t know that are mind numbed people who don’t take ‘we the people’ seriously.
Most people have full stomach, entertainment, some reasonable expectation of hope, nothing happens.
Gen x, y, z are the ones who will either go full commie or galt. Lots of men are gone galt as of now, and people complain about men not in the workforce or college.
What’s worse is they were warned about this (at the time) if you followed it... and yet they now come out with this. Argh.
I think some of the concerns people have are that, they will get a 1099 form which has the lump sum total dollar amount of all their transactions for the year. And then the IRS presumption would be this is all income and then it will be up to you upon audit to justify not reporting that as income.
At least that’s what I gather from hearing people discuss this issue. Also $600 is a pretty low threshold to be reporting transactions for the year.
I don’t have a venmo account or PayPal so this doesn’t affect me. But I get the impression many people use these venmo type accounts for private transactions, and not because they are running a business and generating income. But the way taxes work and IRS audits work, it will be up to you to justify if you did not report that dollar amount on your income tax returns.
End List.
🦏🦏🦏🦏🦏🦏🦏🦏🦏
Democrats have to monitor your bank transactions so they can later tax them.
Politicians are hypocrites? Surely you jest.
Rinos + Dems = Washington Mafia.....WAFIA for short.
WE VOTE FOR THEM!!!!
After all, they have an "R" brand after their names and therefore will be sooo much better than anyone carrying a "D" The best part is they rotate these forays into scumbaggery so that each will be able to take refuge in some other policy they support.....and we voters, we band of the hoodwinked, usually fall for it. When we don't, as in 2016, the STEAL MACHINE comes out of the closet and those with the "R" brand, aside from a designated few whose turn it is in the barrel, just roll over and play dead.
Always remember, we are dealing with "POLITICIANS"!!!!
If my company uses a contractor and pays over $600, we must have issue a 1099. How is this any different? The rule does not include payments made between friends and family. People are using Venmo and Zelle to avoid paying taxes on income from selling goods and services. If I must pay taxes on income so should everyone.
I certainly don't recognize them as a legitimate party. They do not know who they are ... or who WE are. And to make things worse ... they are venal, unprincipled opportunists.
I don't think that any venal, unprincipled opportunists speak for me and and I'd be insulted if any one of them had the face to say they DO!
Glad you feel that way, but zombies turn out for elections.
Absolutely correct. Apathy accounts for a lot of it.
We used to be the Land of the Free.
Now we’re just the Land of the Freebie.
Stupid uninformed voters in their districts keep voting to put the rinos into office.
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