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

post 1672159193 12-02-2022, 08:53 AM
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#91
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Originally Posted By -JR⏩
Oh that lawnmower you got 5 years ago that you sold for $2k recently, yeah you gotta fukking file for that. Don't care that you're only selling cos you have to move and you're gonna lose money. Just pay your taxes. Be the good plebe without recourse or resources that we know you are. LOL at you. Yeah we know you don't have a receipt hehehe. Just bend over and take it.
-the IRS
Its not income if you sell at a loss, tardo.

I'm not bootlicking for the IRS, btw. Just tryna keep facts straight on misc, which is a hard task.
mo e
post 1672159593 12-02-2022, 09:00 AM
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#92
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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?
Yes, if you make over $600 selling on eBay total, they will tax you
post 1672159803 12-02-2022, 09:03 AM
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#93
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At least no more mean tweets or Orange
post 1672159843 12-02-2022, 09:03 AM
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#94
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Just a blatant excuse to audit 99.9% of the population LOL.
post 1672160693 12-02-2022, 09:13 AM
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#95
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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??
If you flip a rolex for profit - you always had to pay tax on that profit...you're just proving the point for this idiocy. If you break even or for a loss that's not a taxable event so the form doesn't mean anything - though the headache for everyone is that you have to "explain" it when you file if you receive a 1099-k
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post 1672160783 12-02-2022, 09:15 AM
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#96
  1. katya422
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Originally Posted By greenleaf⏩
Just a blatant excuse to audit 99.9% of the population LOL.
So you are saying it is a jobs program?
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post 1672160973 12-02-2022, 09:18 AM
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#97
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Right after the midterms, huh?
post 1672161243 12-02-2022, 09:22 AM
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#98
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Originally Posted By katya422⏩
So you are saying it is a jobs program?
Send 1099-K to most everyone
No entry on tax return
Audit for "unreported income"

Rinse and repeat
post 1672161273 12-02-2022, 09:23 AM
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#99
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Ironically most people support higher taxes because they are on the benefits of government money. Many of them see this government spending as money well spent and improving things they want to see improved. They support good jobs for people who otherwise can't make it in the private sector. Such as if the GOP cuts funding to Biden's 50K plus IRS agents you'll hear about public outcry for those people who litterally just landed a good job and now will be unemployed and forced to take lower paying jobs.
post 1672161703 12-02-2022, 09:28 AM
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#100
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Originally Posted By imiscubb⏩
How would that work if they get paid in cash?
I'd think they have to deposit cash into their bank account to pay bills. Anything over $600 in a year is getting flagged.
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post 1672163103 12-02-2022, 09:49 AM
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#101
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Originally Posted By imiscubb⏩
well, that's basically everyone


but I don't think that's true what you're saying

Banks are not going to flag all their customers for depositing more than $600 in a single year
Most people don't cheat on their taxes like cash tip employees do. So yes they will be impacted more than regular people.
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post 1672163613 12-02-2022, 09:58 AM
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#102
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This is more about stripping us of our privacy, rather than our money.

Really a lot of those nuts who've been living off the grid may now have the right idea.
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post 1672164703 12-02-2022, 10:14 AM
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#103
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OF sloots on suicide watch.
post 1672170023 12-02-2022, 11:39 AM
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#104
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Can my parents give me $100 000?
Does my child? A: The short answer is NO: you almost certainly will NOT have to pay any gift taxes. Remember, under current law, you can make $11.58 million dollars' worth of gifts in your lifetime without incurring any gift tax liability.Oct 28, 2020


Is this still accurate? Because my parents gave me all my cash...
post 1672170063 12-02-2022, 11:39 AM
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#105
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Originally Posted By imiscubb⏩
That's doesn't address what I said

Banks will flag every customer, based on what you are saying

I dont see that happening
But us normal 9-5 people already pay taxes on our w2. This is for the tip chit heads that don't report all their income.

It won't have any effect on most people. Except those dumb sloot single mom bartenders.
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post 1672173723 12-02-2022, 12:42 PM
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#106
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ova for poorcels
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post 1672174893 12-02-2022, 12:59 PM
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#107
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Originally Posted By mulletwarrior⏩
Its not income if you sell at a loss, tardo.

I'm not bootlicking for the IRS, btw. Just tryna keep facts straight on misc, which is a hard task.
Read the post again invalid.

The assumption is made that you are selling for profit. You sell $600 worth of chit on ebay you're getting to file and explain it. No receipt? Lol at you.
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post 1672175343 12-02-2022, 01:05 PM
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#108
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Originally Posted By greenleaf⏩
Just a blatant excuse to audit 99.9% of the population LOL.
IRS usually went after the big fish. Can't believe the gov't is willing to waste that much more money to go after all of the little fish as well.
"For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life." (John 3:16)

https://www.youtube.com/watch?v=Wh1VU-_OF98
post 1672175483 12-02-2022, 01:07 PM
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#109
  1. Nocturnal310
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Biden wants to create a global tax prison for american citizens.
F*ck Joe Biden

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post 1672175783 12-02-2022, 01:15 PM
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#110
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Originally Posted By katya422⏩
Yes. Unless you can sell for cash and not use any 3rd party application for the sale.




- 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?
Good question.
post 1672176523 12-02-2022, 01:28 PM
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#111
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It's tree watering time.
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post 1672177653 12-02-2022, 01:48 PM
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#112
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Any word on AMZ payments ? Don't wanna get rekt with my FBA business
post 1672181193 12-02-2022, 02:41 PM
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#113
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Originally Posted By LizzieTish⏩
It's tree watering time.
Everyone is too cucked and comfortable.

It'll collapse under its own weight eventually. Not like this society is worth saving anyway.
post 1672181253 12-02-2022, 02:42 PM
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#114
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Crypto goin back to the moon real soon……
post 1672182543 12-02-2022, 03:05 PM
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#115
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So this is supposed to raise $8b over the next decade. If you divide that by the 87k new IRS employees, this massive tax grab is enough to pay each of these new IRS employees$9,195 per year.A quick google search shows that the average IRS employee earns $19.12 per hour, or a little under $40k per year.



So by taxing your Venmo and cashapp transactions, they’re not even going to cover a quarter of the cost of hiring these new employees, not including the cost of employee benefits and infrastructure. Where is the other ~$30k a year per employee coming from?
And relief washes over me in an awesome wave
post 1672184163 12-02-2022, 03:35 PM
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#116
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Originally Posted By Superplex⏩
Donald Trump is the one who signed it so that we're now taxed on eBay purchases & other purchases from individuals online, which were previously untaxed.
Originally Posted By Noliberals4⏩
Trump signed it. So blame him.
Nope. Wasn't Trump. Biden signed, Biden fast tracked, democrat Congress voted for this. American Rescue Plan Act of 2021. Look it up.

This is a Democrat fuk up.
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post 1672184663 12-02-2022, 03:43 PM
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#117
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Originally Posted By MattyMiscer⏩
So this is supposed to raise $8b over the next decade. If you divide that by the 87k new IRS employees, this massive tax grab is enough to pay each of these new IRS employees$9,195 per year.A quick google search shows that the average IRS employee earns $19.12 per hour, or a little under $40k per year.



So by taxing your Venmo and cashapp transactions, they’re not even going to cover a quarter of the cost of hiring these new employees, not including the cost of employee benefits and infrastructure. Where is the other ~$30k a year per employee coming from?
Everyone is getting an audit and everyone is getting their homes, cars, and anything of value foreclosed and liquidated to pay (((fines))) and (((back taxes))) + (((interest)))

oy vey goyim. looks like you didn't report that venmo transaction where your friend payed you for ski tickets, we are now going to have to look at the previous 10 years of your financial life.
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post 1672185243 12-02-2022, 03:51 PM
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#118
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Originally Posted By MattyMiscer⏩
So this is supposed to raise $8b over the next decade. If you divide that by the 87k new IRS employees, this massive tax grab is enough to pay each of these new IRS employees$9,195 per year.A quick google search shows that the average IRS employee earns $19.12 per hour, or a little under $40k per year.



So by taxing your Venmo and cashapp transactions, they’re not even going to cover a quarter of the cost of hiring these new employees, not including the cost of employee benefits and infrastructure. Where is the other ~$30k a year per employee coming from?
lol there's no way the gov't can be THAT stupid. Like another poster said, it looks like the primary goal of this plan is to have the legal right to strip away privacy and being able to look at every citizen under the microscope.
"For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life." (John 3:16)

https://www.youtube.com/watch?v=Wh1VU-_OF98
post 1672187593 12-02-2022, 04:27 PM
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#119
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Originally Posted By 1hardgainer⏩
IRS usually went after the big fish. Can't believe the gov't is willing to waste that much more money to go after all of the little fish as well.
That is actually a misconception. You know what is most likely to get you audited? The Earned Income Credit.

It is a lot easier for the taxman to squeeze poor people. Rich people have accountants and lawyers to fight back for them.
Originally Posted By Nocturnal310⏩
Biden wants to create a global tax prison for american citizens.
Didn't the US already do that though? BRB US citizens required to pay US taxes on foreign earned income.


Originally Posted By OffwhiteBrah⏩
Any word on AMZ payments ? Don't wanna get rekt with my FBA business
Sorry, but I can't imagine that AMZ would not report you to the IRS if you have more than $600 in business. I'm guessing you were previously under the $20,000 cap.
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post 1672191193 12-02-2022, 05:29 PM
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#120
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Doesn't this go hand in hand with the SWIFT Iso 20022 migration that the US was supposed to start in November but will now start in March 2023? My understanding is that SWIFT created this new worldwide standard that will allow for better data collection on each transaction and also opens the door for the implementation of CBDC's. There will be no hiding when every bank and payment system makes the switch to this new standard. Many of the WEF approved crypto's have already implemented this standard too.
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