IRS To SPY On Bank Accounts With Transactions Over $600
- Thread starter ArsenalCannon357
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This thread again?
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Every month my roommates give me their portion of the rent in cash. I deposit it to my checking account and send it to the landlord through their website.
If this law passes the bank would be required to send a report to the IRS. They would then have to decide whether or not this is unreported income.
Problem is, the IRS is already overworked and understaffed. How are they possibly going to have the resources to run this kind of investigation. Not just on me, but on the millions of Americans who are doing the exact same thing. Collecting money from friends, family members, coworkers, etc to make purchases on their behalf.
If anything this is going to lead to more tax evasion. Not less.
If this law passes the bank would be required to send a report to the IRS. They would then have to decide whether or not this is unreported income.
Problem is, the IRS is already overworked and understaffed. How are they possibly going to have the resources to run this kind of investigation. Not just on me, but on the millions of Americans who are doing the exact same thing. Collecting money from friends, family members, coworkers, etc to make purchases on their behalf.
If anything this is going to lead to more tax evasion. Not less.
This is stupid. Money can be transferred to Cash App, Venmo, or a debit card. I'm going to exhort strippers to make me their banker.
That's exactly why they are doing this.
They are checking cashapp and venmo and Zelle too. They want some of those small business owners too.
So, are we coons for calling this out?
Fuck Biden
I saw a young Turks video yesterday. And they was saying, even the banks doesn't want this headache.
There’s individuals like myself that make that less than an hr at the casino.. they trying stop that extra unreported income.. especially with tax free hustlers
By the way is it $600 a day? At one time? In a week?… the increment game gonna have to change
call me crazy...why do we really have the IRS?
Wouldn't it be more effective to let the states handle taxes, and the feds get their cut straight from the state?
Fact check: Claim about the IRS monitoring bank accounts over $600 exaggerates reality
The claim’s assertion is a proposal by the Biden administration, not a decision set in stone.
www.usatoday.com
Fact check: Claim about the IRS monitoring bank accounts over $600 exaggerates reality
The claim’s assertion is a proposal by the Biden administration, not a decision set in stone.www.usatoday.com
all they are saying is that it's not official. Fact checks are useless these days...
They are probably trying to reconcile the folks that are reporting income and losses. Just think about all of the "businesses that popped up" to get that covid money.
I can't see anyone who works for the IRS happy about this shit.
I gat tha sauce too
my credit union (who is very quiet and cool was up in arms)
Technically, they already look in peoples accounts when you agree to the loan. They check to see where the money went and if you did what you were supposed to do..once that's done they approve your PPP loan for forgiveness if everything checks out.
Somebody got to collect the $ for the inner London banking cartels, who own the central bank of USA, inc. aka the federal reserve.
this fiat money scam / credit based monetary system is a joke and 95% of people don’t get it.
I think I read they were supposed to double the staff there was supposed to be an increase in the IRS's budget. But still I work for the government and the thought of me looking at $600.00 transactions would make me look for the exit door. One agency thats always advertising for positions is the IRS.
Just like always the talk always starts with going after the rich and ends up raping the lower income... again as the big fish take advantage of loopholes to hide their wealth..... I agree with the end of the video.....a higher trigger amount would be better.... but it should be like $250,000.... the rents that I pull in for both my properties are are over a 100K a year
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Don't believe the banks or their shills: Biden’s proposed IRS reporting reform is a great idea
A lot of rich people have gotten very good at not paying their taxes. Hell, The Man Who Lost An Election And Tried To Steal It bragged about avoiding taxes, and thought it was a selling point for his candidacy. President Joe Biden, on the other hand,...
m.dailykos.com
This ain’t aimed at the rich..nigs didn’t become millionaires and billionaires for skimming/hiding $600 deposits… this aimed at the tax free hustlers, small biz, average person.. just in sports alone average dudes usually bet money..easily 50- a few thousand dollar bets can go for certain fights, big games, certain series.. hell some people will easily bet 1 person or a few or have a betting pool that can accumulate them over 600 in 1 night.. things like zelle, cash app, as well as hitting the atm will have money taken out and transfer.. it’s lil money like that they people make on the side or in some cases for living that go untaxed or unnoticed.. now they fucking with simple extra money like that.. does not like thisDon't believe the banks or their shills: Biden’s proposed IRS reporting reform is a great idea
A lot of rich people have gotten very good at not paying their taxes. Hell, The Man Who Lost An Election And Tried To Steal It bragged about avoiding taxes, and thought it was a selling point for his candidacy. President Joe Biden, on the other hand,...m.dailykos.com
Did you read the article? I probably should have put a Colin warning.
It has the the stats of what percentage or poor folks and rich folks get audited under the current system. Poor folks already have a paper trail for all their money. Also they proposed the limit to be increased. I thought 600 was too low.
Definitely Colin the articleDid you read the article? I probably should have put a Colin warning.
If the forefathers and Andrew Jackson simply paid the Brits protection money, our money would read bank of the United States. Those notes are there to conceal its real face. The face of the queen and her commonwealth states!
I give Andrew Jackson (a so-called black man but not for his people) credit in that regard. He almost lost his life trying to keep the central bank out of the USA and they came back about 15 years later. I think astute brothas will know why. But I think he is the only President that survived the hit because the rest were taken out, including Abraham Lincoln, another so-called black man.
the money is gone now, there is no more gold and silver to back the fiat money and the only collateral left is the citizens which is why you see the prisons packed, legalization of everything to add more taxes, human trafficking at an all time high and inflation continuing to climb.
Now I know why old folks used to put their money in mattresses......