Posted on 12/06/2022 7:52:48 AM PST by george76
Sam Bankman-Fried: I don’t know where $10 billion went. The Pentagon: We don’t know where $2.2 trillion went. The IRS: You just sent $601.37 don’t forget to report it.”
The Biden administration is recruiting 87,000 IRS agents, allegedly to keep an eye on billionaires. .. aiming at the little fish of the gig economy instead.
Taking payments for a side hustle via PayPal or Venmo? Not only is the IRS reminding you those payments are taxable income, it’s deputizing those payment companies to snitch on you.
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But wait — it gets worse. People get payments through these companies for all sorts of things, like gifts from family members, expense reimbursements from employers, even money from friends for medical expenses, etc. Venmo and PayPal may — and sometimes undoubtedly will — mischaracterize these tax-free gifts as something taxable.
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The threshold used to be $20,000 but was lowered to $600 as part of the Democrats’ American Rescue Plan Act ... The legislation tightened the screws on the little guy, and that was no accident.
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Democrats .. hostile to self-employment and small business.
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you can’t get people fired from jobs when they work for themselves.
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independence is anathema to Democrats, who have made pretty clear they want everyone under their thumb. Since the pandemic, in which lockdowns gave preferential treatment to big-box stores while brutally punishing small businesses, it’s been a steady grinding down of small businesses and entrepreneurs. (Well, except for the Bankman-Fried sort of “entrepreneurs” who make six-figure donations to favored politicians.)
This new rule is just another tightening of the screws. If everyone works for the government or a big corporation that’s in cahoots with the government, everyone is controllable. And for Democrats, that’s not a bug but a feature.
(Excerpt) Read more at nypost.com ...
The tax code is the tax code.
You have to pay taxes as a self employed person, same as a full time employee.
What people are worried about is not being able to work off the books.
There are 2668 billionaires in the world and 26% of them are in the US or 693. This means 125 new agents are dedicated to each billionaire?
How could anyone possibly see a problem here?
Yeah if this happens in NYS I will close up shop. I have three subcontractors now as it is.
Uber/Lyft drivers are upset that Biden’s IRS is coming after the gig economy. How am I supposed to sympathize with people who voted 2/3 Democrat in both 2020 & 2022?
The Democrats view themselves as the Eloi and they want to use the IRS to keep the Morloks from coming to the surface.
Strange, because the gig economy is one of the Democrats big constituents.
Mafiousa does this and muslims do this for years and years and years. I was laision to Northern Calif Afghani Refugee Community. This is how they transfer money back n forth... two bank accounts, 2 countries...
You got a cousin in Pakistan?
Moslem banking is nowwhere like the rest of the world.
They want to eliminate all business other than politically connected big business.
<>Many Republicans don’t care either.<>
Nope.
Article V COS while we can.
Election Fraud has consequences.
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