I just found out that this year they changed the threshold from $20k to $600 on IRS reporting and that if I sell my old laptop on eBay I will get the 1099k form at the end of the year. WTF is wrong with this country? https://www.ebaymainstreet.com/issues/1099-k-federal-tax-reporting #irs #tax #ebay #etsy
Anti money laundering and the govt wants its cut
Biden planned but impossible to execute. It is one of the most controversial plans to cover free money given during Covid. Most likely they don't have time even to code it to send letters. Change your address to Mar o lago if you wany want to be safe in 2024.
It is already in place. eBay will send 1099K if you sell your old MacBook
Uncle sam out here collecting his street protection fee
Anarchist spotted.
I Remmeber it was $20k and 200 transactions ??
It *was* but not anymore as noted in the OP????
Is it $600 and 200 transactions? Or just $600 now that’s absurd if it’s just $600
"pay your fair share" means taxing people doing $600 transactions not billionaires paying nothing.
Citizens United, anyone?
Meanwhile Pelosi is raking in millions with insider transactions.
No wonder they are planning to hire 80k IRS agents. I am apolitical but Democracy basically means ... but the people are ret@ded
This is a bureaucratic punishment against small business who are mostly republican supporters at this moment.
Bro the IRS is literally drowning in physical stacks of paper and nobody wants to work there, It’ll be fine
This is bad advice, don't hide your income especially if reported electronically by the other side. They'll catch you with a simple USPS mail, and hit you with such a fine that your next 3 generations will regret it. I know paying taxes sucks, but not paying and getting caught sucks way more. This will get you caught.
Except the new 80k ish new agents to be hired 🤣