IRS Warns Americans of New Law in 2023

#154
#154
It went from the “rich” paying their fair share to Joe Shmoe paying taxes on those 5 year old golf clubs he sold on eBay for half of what he paid for them.

Don’t worry In a couple of more years we will see old Bernie shaking his fist at the sky telling us how the Dems plan to raise taxes on those making over $400k and the same idiots supporting this will eat it up hook, line, and sinker like a big sucker fish.
 
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#155
#155
MOOOOONEY said:
It went from the “rich” paying their fair share to Joe Shmoe paying taxes on those 5 year old golf clubs he sold on eBay for half of what he paid for them.

Don’t worry In a couple of more years we will say old Bernie shaking his fist at the sky telling us how the Dems plan to raise taxes on those making over $400k and the same idiots supporting this will eat it up hook, line, and sinker like a big sucker fish.
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The laws of value are now being put in place.
Say a set of original Air Jordans. Or BB cards. Sell them on Ebay. Better not be more then. $600.
Things which are taxed on original purchase at the time. And now taxed upon resell.

Tax and tax and tax. Revolutions have occurred.
And the insatiable appetite holds no bounds.
 
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#156
#156
MOOOOONEY said:
It went from the “rich” paying their fair share to Joe Shmoe paying taxes on those 5 year old golf clubs he sold on eBay for half of what he paid for them.

Don’t worry In a couple of more years we will say old Bernie shaking his fist at the sky telling us how the Dems plan to raise taxes on those making over $400k and the same idiots supporting this will eat it up hook, line, and sinker like a big sucker fish.
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Yep, when the rubber meet the road the Democrats folded like a cheap suit when it came to tax the rich.
 
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#158
#158
jmacvols1 said:
Made money online this year? You could owe more in taxes

"Starting in 2023, more people who made money on eBay, Etsy, Poshmark, Uber or other digital platforms will have their income reported to the Internal Revenue Service. Anyone who made more than $600 via a gig platform or who was paid that much on Venmo will receive a 1099-K form, meaning that those funds will be reported to the IRS, the agency said.

Americans already receive 1099 forms if they make money as an independent contractor, if they earn interest on a bank savings account or if they make a significant sum by selling things online. What's new is the $600 threshold.

Before this year, people only received a 1099-K form if they earned at least $20,000 from online platforms and made more than 200 transactions on the platform. Now, a single transaction exceeding $600 can trigger a 1099-K reporting requirement, according too IRS. "



More: Just ONE offense reported by TicketMaster, PayPal, Cash App or Venmo, you get audited.




More:
IRS warns Americans about $600 threshold to report Venmo, Cash App payments


"Beginning this year, third-party payment processors will be required to report a user's business transactions to the IRS if they exceed $600 for the year. The payment apps were previously required to send users Form 1099-K if their gross income exceeded $20,000 or they had 200 separate transactions within a calendar year.

Democrats made the change in March 2021, when they passed the American Rescue Plan without any Republican votes. Now, a single transaction over $600 will trigger the form. The change is intended to crack down on Americans evading taxes by not reporting the full extent of their gross income. However, critics say that it amounts to government overreach at its worst and that it could ultimately hurt small businesses."
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Remember this if you voted for Sleepy Brandon because mean Tweets hurt your little precious feelings.
 
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#159
#159
So if you bought a car and had to pay taxes when you bought it ... then sell it for way less than you paid... you pay taxes again?
 
#161
#161
UT_VOLS13 said:
Yep, when the rubber meet the road the Democrats folded like a cheap suit when it came to tax the rich.
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Why do we have a desire to "tax the rich" more? We have a graduated income tax system. They pay more always. And they always get the biggest income tax cuts. Bc it's graduated. You have to be stupid to not get this.
 
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#162
#162
volfanhill said:
Why do we have a desire to "tax the rich" more? We have a graduated income tax system. They pay more always. And they always get the biggest income tax cuts. Bc it's graduated. You have to be stupid to not get this.
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The common theme from the government is to reward failure and punish success. The tax code is designed as a form of welfare for the worthless.
 
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#163
#163
The tax code is intentionally complicated. Congress sells the key to decipher the tax code to their political friends . They use it to pick winners and losers.

Taxation without representation. Politicians represent themselves and their cronies.
 
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#164
#164
volfanhill said:
Why do we have a desire to "tax the rich" more? We have a graduated income tax system. They pay more always. And they always get the biggest income tax cuts. Bc it's graduated. You have to be stupid to not get this.
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Woke Liberals say hello.
 
#165
#165
LargeOrange1 said:
Woke Liberals say hello.
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GettyImages-1340272142.jpg
 
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#166
#166
volfanhill said:
Why do we have a desire to "tax the rich" more? We have a graduated income tax system. They pay more always. And they always get the biggest income tax cuts. Bc it's graduated. You have to be stupid to not get this.
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Why do we have the desire to tax the poorest among us? That seems to be a common theme in many ideas that reimagine the tax system
 
#167
#167
utvolpj said:
Why do we have the desire to tax the poorest among us? That seems to be a common theme in many ideas that reimagine the tax system
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If we’re going to tax the population why shouldn’t the entire population be taxed?
 
#168
#168
hog88 said:
If we’re going to tax the population why shouldn’t the entire population be taxed?
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Blood from a turnip. There comes a point when it's doing more harm than good. Our system routinely makes it harder than it should be to rise from poverty
 
#169
#169
utvolpj said:
Why do we have the desire to tax the poorest among us? That seems to be a common theme in many ideas that reimagine the tax system
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Not sure if this is rhetorical, satirical, or something else entirely.

My answer: The poorest get the same constitutionally mandated services that anyone else gets, And since they are under the umbrella, they should be expected to contribute.

There are many ways to do that, though.
 
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#170
#170
utvolpj said:
Blood from a turnip. There comes a point when it's doing more harm than good. Our system routinely makes it harder than it should be to rise from poverty
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Would you please provide some examples or anecdotes where the system impedes upward mobility?
 
#171
#171
McDad said:
Would you please provide some examples or anecdotes where the system impedes upward mobility?
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Court and criminal justice system is one of the biggest. The way banks handle overdraft fees is essentially stealing from those who can least afford it. Our system can nickel and drive anyone into the poor house

What does taking $2k in taxes from someone at the poverty line actually accomplish? That's routinely suggested here
 
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#172
#172
utvolpj said:
Blood from a turnip. There comes a point when it's doing more harm than good. Our system routinely makes it harder than it should be to rise from poverty
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It’s not hard to rise from poverty as long as you stop making stupid decisions. It’s hard to rise from lower middle class to upper middle class to the 1%.
 
#173
#173
utvolpj said:
Court and criminal justice system is one of the biggest. The way banks handle overdraft fees is essentially stealing from those who can least afford it. Our system can nickel and drive anyone into the poor house

What does taking $2k in taxes from someone at the poverty line actually accomplish? That's routinely suggested here
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So personal choices /responsibilities are thrown out the window? Seems to have more to do with your examples than anything. Bad decisions lead to bad results.
 
#174
#174
Fun coupon VOL said:
So personal choices /responsibilities are thrown out the window? Seems to have more to do with your examples than anything. Bad decisions lead to bad results.
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I view it as an overbearing system built on power and profit rather than justice. They're only "bad decisions" because they have the ability to fund something
 
#175
#175
hog88 said:
It’s not hard to rise from poverty as long as you stop making stupid decisions. It’s hard to rise from lower middle class to upper middle class to the 1%.
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It's not just stupid decisions. A flat tire, battery, alternator, etc can be a set back. Don't have the money to renew plates, get pulled over and now you're in a world of hurt and debt.

The govt does not need the money it takes from citizens. It sure doesn't need the pittance it extracts from the poor. That money sent to Ukraine would cover their tab for a few years
 
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