So this administration is going to make things a lot more difficult for just about everyone it seems. Many callmakers and suppliers of equipment use Venmo, PayPal and assorted other online payment apps. Beginning January 1,2022, those apps and others have to report and prepare a 1099k for anything exceeding $600. Previously it was anything over $20k per calendar year. What will that mean? I bet you will see a majority of these folks go to cash or check only.
I don't think the govt has any business sticking their nose that far into money transactions. $600 is an awfully low number for the purposes they state they need this.
I pay my taxes and resent the implication on their part that I need more watching cause someone else may be cheating or money laundering. Watch the criminals, not everyone!
I can live with the cash or check pay, but it will sure slow things down.
It's not going to stop there. There is legislation in the works right now that would require your bank to report to the govt any transaction you make $600 or over. Deposits and withdrawals.
This administration is about worthless, why do they have to stick their noses everywhere.
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Hopefully the Senate will remain a stumbling block to Biden's plans. He also wants to double the IRS workforce which is not good. More accountants with guns and badges(IRS) in a system where you are guilty until proven innocent is not an encouraging situation. I pay my taxes. Biden himself may owe $500K by improperly avoiding paying Medicare taxes.
It's just another example of a move towards socialism. One gets accused of being a right wing conspiracist for stating such things, but not sure how anyone could argue differently. What I see are a lot of supporters of the Democrat part that either refuse to recognize or then a blind eye to the fact that it is a far different party than it was previously. It is now controlled by radical liberals who desire nothing more than power and control. They tell us $3.5+ Trillion is FREE, but they want their nose in all of our finances. Yeah, riiiiight. To his defense, Joe Biden is just spouting what they tell him. He doesn't even know what day it is.
Quote from: Tail Feathers on September 30, 2021, 04:30:31 PM
I don't think the govt has any business sticking their nose that far into money transactions. $600 is an awfully low number for the purposes they state they need this.
I pay my taxes and resent the implication on their part that I need more watching cause someone else may be cheating or money laundering. Watch the criminals, not everyone!
I can live with the cash or check pay, but it will sure slow things down.
Many of us are going to stop using all those forms of payment, and go straight to cash or check, which you stated, is going to slow down the process a lot. And it wont be just call makers, people who make tshirts and other knickknacks.
Quote from: misfire on October 01, 2021, 11:33:49 AM
Quote from: Tail Feathers on September 30, 2021, 04:30:31 PM
I don't think the govt has any business sticking their nose that far into money transactions. $600 is an awfully low number for the purposes they state they need this.
I pay my taxes and resent the implication on their part that I need more watching cause someone else may be cheating or money laundering. Watch the criminals, not everyone!
I can live with the cash or check pay, but it will sure slow things down.
Many of us are going to stop using all those forms of payment, and go straight to cash or check, which you stated, is going to slow down the process a lot. And it wont be just call makers, people who make tshirts and other knickknacks.
Over 500 views and only a few posts. This covers everyone making any transaction over 600 bucks. Meaning you take 600 out of the bank or checking to pay for car repairs. money for vacation trip or maybe tickets to a football game the bank needs to report this to the IRS. The people in this country need to wake up and do it fast. The politicians love figuring out how to take and waste our money but know all to well how to hide their own.
Quote from: callmakerman on October 06, 2021, 04:50:34 PM
Quote from: misfire on October 01, 2021, 11:33:49 AM
Quote from: Tail Feathers on September 30, 2021, 04:30:31 PM
I don't think the govt has any business sticking their nose that far into money transactions. $600 is an awfully low number for the purposes they state they need this.
I pay my taxes and resent the implication on their part that I need more watching cause someone else may be cheating or money laundering. Watch the criminals, not everyone!
I can live with the cash or check pay, but it will sure slow things down.
Many of us are going to stop using all those forms of payment, and go straight to cash or check, which you stated, is going to slow down the process a lot. And it wont be just call makers, people who make tshirts and other knickknacks.
Over 500 views and only a few posts. This covers everyone making any transaction over 600 bucks. Meaning you take 600 out of the bank or checking to pay for car repairs. money for vacation trip or maybe tickets to a football game the bank needs to report this to the IRS. The people in this country need to wake up and do it fast. The politicians love figuring out how to take and waste our money but know all to well how to hide their own.
I'm guessing that includes deposits. Their computer will go crazy on payday Fridays I guess. I thought I was to be "secure in their possessions and papers" from warrantless searches. Guess I misread that ammendment.
It's been nonstop changes all year. 2020 was bad enough. 2021 the shots just keep coming nonstop. The really amazing thing is that there are people just now realizing what has happened. Just today I got a text, from a Biden supporter no less, on if I had seen any primers. He couldn't find any, and didn't know why. I mean, really?
Quote from: callmakerman on October 06, 2021, 04:50:34 PM
The people in this country need to wake up and do it fast.
Brother, anyone who hasn't woke up to what going on yet, I'm afraid, isn't going to.
Looks like this as good a time as any to go from making a few calls to making no calls. Time to become a hermit.
Living like a hermit ain't all that bad. Been trying that most of my life.
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Being that I live in the social republic of VT I receive a 1099 for any money I take in through goods and services using paypal already.
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Man that's weird that they would want to know when you do a transaction of $600 or more.
I can somewhat understand why they would put a cap on the cash sending apps (not saying I'm for it, to be clear) although I feel $600 is way to small of a cap.
What boggles me is why do they want to know when we do a transaction of $600? Does it matter if you get your W2s or 1099s?
I know this is just some money grab because the government has to always make sure they get there cut. It's really almost similar to a mobster collecting his fee so you can keep working.
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This is to help pay for the massive spending they're proposing.
They will scrutinize every transaction you make, tax you and fine you if you overlooked something.
Then they'll use that money to undermine you regarding your political leanings and your second amendment rights. They'll use it to indoctrinate your children with critical race theory and anti second amendment "education." They'll promote left media rhetoric that will demonize and marginalize you.
Hell, they've already put Jan. 6th trespassers in solitary confinement and denied them a speedy trial, against their constitutional rights.
The IRS has been weaponized against you and the FBI, along with the dem. party has run roughshod over our supposed free election process and, so far, gotten away with it.
Yeah, the $10,000 reporting to IRS was egregious enough, and in violation of your right to be secure in your papers as enumerated in the constitution. The $600 one will just tighten the control they have over you.
Next will be social and vaccine credits in order for you to participate in society...
They'll boil the frog and one day you'll wake up in the CCP Of The United States of America...
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:popcorn:
I know that I am cancelling my PayPal account and will only accept cash, check, money orders or gift cards from now on.
Quote from: misfire on October 19, 2021, 09:13:06 AM
I know that I am cancelling my PayPal account and will only accept cash, check, money orders or gift cards from now on.
Well, if this bill passes, any transfer's in or out of your bank accts. in excess of $600/yr. will be reported to the IRS. You won't escape it unless you only take cash and don't deposit it.
Now, if the person who is paying you gets caught up in the dragnet, you automatically will be also...
Write your Congress person and Senator.
The only way this doesn't become law is if there's an uproar about it...
Just remember guys, they are looking at $600 transactions to "go after the rich"
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I think their new proposal is back to $10K
Quote from: I sasquatch1 on October 19, 2021, 04:41:19 PM
Just remember guys, they are looking at $600 transactions to "go after the rich"
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Yeah. It's good to know that just because I have a job, they consider me to be a "rich tax cheat".
Actually just heard it isn't transactions of $600 or over it's actually accounts that have $600 or more in them. The talk is to raise it to $10k, you know....to target the super rich!
Quote from: Paulmyr on October 19, 2021, 11:33:18 PM
Actually just heard it isn't transactions of $600 or over it's actually accounts that have $600 or more in them. The talk is to raise it to $10k, you know....to target the super rich!
That's what I understood, that it was $600+ in your account. THE only reason they will raise it is e backlash that has been received. They are going to get crucified over it in the mid terms, just hope enough folks pay attention or we eliminate the mass mail out ballots.
I was glad to hear some state treasurers say they will stand up against the federal government and take it to court.