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Forum » UPDATED IRS: Massive New Tax Grab
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Thread: UPDATED IRS: Massive New Tax Grab

post 1672124533 12-01-2022, 06:32 PM
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  1. katya422
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UPDATED IRS: Massive New Tax Grab

IMPORTANT UPDATE:

*This new rule is already in effect for the 2022 tax year.*

See Post #148

Starting January 1 taxpayers will be required to report any payment received over $599.

So if you are selling your old used stuff? Taxable as income. Who cares that you already paid tax when you earned the money and then paid sales tax when your purchased the item.




- apps and platforms will be reporting payments made/received to the IRS




- if you fail to include these forms and payments in your tax filing you will be fined




- they expect to rake in an extra $8 Billion + over a decade

- Neil points out that this will hit the poor/working class the hardest and seems like a nifty way to pay for the 87,000 new IRS agents




He calls this out as another milestone along the way to CBDC which will give the government complete control over your money and every transaction you participate in.

********
There was a report on today's Boots On The Ground from a listener who said their longtime bank hit them up with a bunch of new intrusive requirements- picture of their face, sources of income, and tax return is what I remember. Said that they had been ignoring the request but the bank was insisting that they must comply and update everything yearly if they want to continue to have an account there. Luckily there is one other bank in the area so they just closed that account.
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post 1672124613 12-01-2022, 06:33 PM
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holy fuk this is bad
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post 1672124713 12-01-2022, 06:35 PM
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I buy my gear with Zelle, how will this effect me
post 1672124743 12-01-2022, 06:35 PM
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Good luck enforcing this. Brb IRS gonna sue me for $600 fuk off.
post 1672124773 12-01-2022, 06:36 PM
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Tell them to f-off

Lettuce beef cereal they have robbed 2/3 years of your life because covid lol put a price on that srs
post 1672124803 12-01-2022, 06:36 PM
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It's to stick it to all the sloot waitresses who never report their tips.

Fuk them dumb biches, they deserve it for voting dem.
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post 1672124823 12-01-2022, 06:36 PM
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Yeah my ebay account is suspended because i am not providing all of this info to them. They won’t let me sell, but they WILL gladly let me buy stuff. Yeah BS this triple taxation. Pay tax on your income, pay double tax to buy anything with whats leftover, now triple tax if you want to sell your old stuff.
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post 1672124883 12-01-2022, 06:38 PM
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Originally Posted By CoolKnees⏩
Good luck enforcing this. Brb IRS gonna sue me for $600 fuk off.
obviously they wont use this against everyone, just their political enemies. politicizing the irs is nothing new for the jew democrat party. remember lois (((learner)))?
post 1672124903 12-01-2022, 06:38 PM
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  1. katya422
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Originally Posted By CoolKnees⏩
Good luck enforcing this. Brb IRS gonna sue me for $600 fuk off.
Originally Posted By buwbs⏩
Tell them to f-off

Lettuce beef cereal they have robbed 2/3 years of your life because covid lol put a price on that srs
Um, see the fines that are listed?

If you have transactions on eBay, etsy, amazon marketplace, whatever, the 3rd party is being required to report it to the IRS.

If you don't file/pay tax then they start fining you and continue to increase the fine.

Eventually the IRS can put a real hurt on you.
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post 1672124943 12-01-2022, 06:39 PM
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Yeah this is one of many reasons I'm taking ownership of my corporate trust so I can check out of this system.
#
post 1672124983 12-01-2022, 06:40 PM
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I sold a bunch of crap on ebay earlier this year to clean out the closets and they sent me an email about this...I figured it out and I will probably end up making negative money after I file taxes. The IRS needs to be nuked into oblivion.
Best thread: http://forum.obnoxiousbrutes.com/showthread.php?t=168274783
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post 1672125003 12-01-2022, 06:41 PM
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Originally Posted By Kev1972⏩
It's to stick it to all the sloot waitresses who never report their tips.

Fuk them dumb biches, they deserve it for voting dem.
I don't know about waitresses.

But this would hit people getting money from Only Fans and Patreon right?
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post 1672125163 12-01-2022, 06:43 PM
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Originally Posted By ImpressiveGainz⏩
I sold a bunch of crap on ebay earlier this year to clean out the closets and they sent me an email about this...I figured it out and I will probably end up making negative money after I file taxes. The IRS needs to be nuked into oblivion.
One bit I thought of after I posted is inherited items.

Inheritance is one of the only tax breaks we get assuming that it wasn't some big estate.

BRB gotta pay income tax when you sell granny's old china or grandpa's truck.
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post 1672125213 12-01-2022, 06:44 PM
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Always do cash in hand when selling old **** and **** these morons... they can choke on this dick if they think they're enforcing that **** on me.
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post 1672125243 12-01-2022, 06:44 PM
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Originally Posted By TugOfPeace⏩
So why not just do multiple smaller transactions? I'm selling some things right now worth $700, will I have to pay tax if I split it up into 3 sales less than $700?
$600 total for the entire year.

Smaller transactions won't help.
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post 1672125253 12-01-2022, 06:45 PM
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Gotta put those 87,000 new IRS agents to work boyo

**** Biden and **** you if you voted for him
post 1672125303 12-01-2022, 06:46 PM
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Originally Posted By TugOfPeace⏩
So why not just do multiple smaller transactions? I'm selling some things right now worth $700, will I have to pay tax if I split it up into 3 sales less than $700?
I suppose if you used different platforms and none of the platforms reported it on a 1099 or whatever new form it will be
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post 1672125323 12-01-2022, 06:46 PM
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These Ukrainian bailouts aren't going to pay for themselves.
post 1672125383 12-01-2022, 06:47 PM
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Liberals see nothing wrong with this and will vehemently defend this since it’s the Biden admin saying so
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post 1672125993 12-01-2022, 06:55 PM
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Originally Posted By katya422⏩
$600 total for the entire year.

Smaller transactions won't help.
That's just it...the way things are going, you might hit $600 just selling a couple dozen eggs.
Best thread: http://forum.obnoxiousbrutes.com/showthread.php?t=168274783
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post 1672126393 12-01-2022, 07:00 PM
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Originally Posted By TugOfPeace⏩
so what if you just use cash?
Good luck with that boyo...cashless society being implemented as we speak.
Best thread: http://forum.obnoxiousbrutes.com/showthread.php?t=168274783
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post 1672126673 12-01-2022, 07:06 PM
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Originally Posted By TugOfPeace⏩
Hoooold on a second, this is kinda messed up. Bought some Rolexes last year and if I want to sell them to someone, I have to pay tax on that sale, lmao??
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post 1672126683 12-01-2022, 07:06 PM
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Some Congress reps have been trying to have this law amended to increase the 1099 k threshold to $5,000 which I think is much more reasonable.

https://axne.house.gov/media/press-r...s-online-sales

Was hoping this could take effect before 2023 but doesn't look like it will happen. Already Dec. and still looks like a long ways to go.

https://www.congress.gov/bill/117th-.../3840?s=1&r=58
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post 1672126753 12-01-2022, 07:07 PM
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so they took it from 20k to 600?
why?
what is the reasoning for this extreme drop?

BTW, there are people in the house realizing the fuk-up and pushing to get it back up to original or at least half way.

one of the reasons is people are no longer going to sell their old stuff.
it will just end up in a landfill.
post 1672126853 12-01-2022, 07:09 PM
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Originally Posted By TugOfPeace⏩
Hoooold on a second, this is kinda messed up. Bought some Rolexes last year and if I want to sell them to someone, I have to pay tax on that sale, lmao??
You mean the watches you lost in a boating accident? Or the watches you are selling for cash?
post 1672126983 12-01-2022, 07:11 PM
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Take that 1%ers!

Fuk you rich fuks that make over $600 selling your used treadmills and recliners.

In all cereal, Democrats done goofed.

First the rail lines, and now this.

I think the few braindead people that still vote left are waking up to the fact that the Democrats are really their enemy.
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post 1672127273 12-01-2022, 07:17 PM
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Originally Posted By TugOfPeace⏩
haha that would work.. but then the bank would see $30,000 in deposits at random, wouldn't that cause a red flag in their system?

or maybe I could deposit the money slowly.. but still it's just a shady situation
You split up deposits or just deal only in cash. Yea it's inconvenient, but you also don't pay any tax.
post 1672127363 12-01-2022, 07:18 PM
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Originally Posted By DeadlyStriker⏩
You split up deposits or just deal only in cash. Yea it's inconvenient, but you also don't pay any tax.
Good luck paying your car note in cash.
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post 1672127483 12-01-2022, 07:20 PM
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  1. katya422
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Originally Posted By TugOfPeace⏩
Hoooold on a second, this is kinda messed up. Bought some Rolexes last year and if I want to sell them to someone,I have to pay tax on that sale, lmao??
Yes. Unless you can sell for cash and not use any 3rd party application for the sale.
Originally Posted By NitrogenWidget⏩
so they took it from 20k to 600?
why?
what is the reasoning for this extreme drop?

BTW, there are people in the house realizing the fuk-up and pushing to get it back up to original or at least half way.

one of the reasons is people are no longer going to sell their old stuff.
it will just end up in a landfill.
- dump it
- give it away
- sell it for cash

It seems like it could cause a drop in business for these 3rd party platforms.

And honestly I don't believe that it should be legal

They are de facto assuming that you are receiving a 100% profit? Or are we supposed to keep receipts for every physical item that we purchase/own so that if we ever want to sell it we can prove that we lost money or didn't make much profit?

I mean it only seems fair that if I sell something for less than what I paid for it then I should get to write that off as a loss? Right Mr. Tax Man?

So every mom who buys a new crib for their baby for a couple of hundred and then sells it for $50 should get to take a $150 loss, yeah? Or do we have to do a deprecation schedule or some chit?
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post 1672127493 12-01-2022, 07:21 PM
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Originally Posted By katya422⏩
I don't know about waitresses.

But this would hit people getting money from Only Fans and Patreon right?
Give me free access to your Only Fans and avoid being taxed
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