Any one else going to have trouble with this new law making all cash Apps report over $600 a year

[hotrod]

This is crazy, so now Ive gotta split into personal and bussines, but I'll still have 1099k forms from both of them

 

[Wonton]

This is crazy, so now Ive gotta split into personal and bussines, but I'll still have 1099k forms from both of them

That passed? Last I heard they raised it and large protest against it

 

[FrancisK]

They really really want to funnel all the cash to big corporations don't they......god forbid any little guy get an insignificant sliver of anything.

I can see another audit in my future 100%

 

[Gnrmmk]

This is crazy, so now Ive gotta split into personal and bussines, but I'll still have 1099k forms from both of them

Idgaf about wat they say i just wont report it. Fuck their law.

 

[cage99]

You know damn well the gubment gonna get their hands in everyone’s cookie jar!

Cage

 

[OuchThatHurts]

Did anyone really expect anything different? It's only a matter of time. Eventually they will have a blockchain tied to central banks and currency exchange rates.

 

[hotrod]

Idgaf about wat they say i just wont report it. Fuck their law.

thats the problem, the apps are going to report you now, it used to be 200 transactions or 20,000$ now it's 600 you'll get a 1099 sent to you and goverment

 

[hotrod]

That passed? Last I heard they raised it and large protest against it

Just the banks,and this is $600 for the year

 

[OuchThatHurts]

That's bullshit. The rich powers-that-be were never going to hand currency over to the commoners without a fight. This is older than time itself. They have media stoking us against one another when we should be screwing them. End stage captitalism. They did it in the gilded age, the 1910 sweatshops, and here today. They're having gold-plated dinners and ice sculptures while 99.9% of people are just trying to put their kids through school and save for retirement.

The good part is that it never lasts for long. This is nothing new.

 

[krman]

This is such crap. $600 is such a low number. WTH

 

[OuchThatHurts]

As an example, OANN and CNN have the same primary sponsors. This is like a 24-hr news psychological operation or psy-op, or PSYOPS.

"For we do not contend against flesh and blood - but rather the principalities; the rulers of this present darkness."

 

[OuchThatHurts]

What's really crazy is that people actually believed (including myself in the beginning) that the world's financiers wouldn't think, "Hey Let's hire some geeks to make our blockchain!" That's why I'm reducing my crypto exposure. I've started investing more and more in hard assets. Whether it's properties, a Harley Davidson or a Rolex watch - those never depreciate, always will have use, and only increase in value over time. Fuck volatility. I still have two elementary school girls, 5th grade and kindergarten.

 

[PYGMY]

Are we sure this passed? I can’t find anything saying it did. And everything about it that is coming up on Google is from back in October when they were still discussing it and getting a shit load of pushback.

 

[PYGMY]

I guess so…

Increased Reporting to the IRS Required for PayPal, Venmo, Third-Party Payment Networks | JD Supra

Small businesses take note: Starting January 1, third-party payment networks, such as PayPal and Venmo, must report to the IRS any transactions for...

www.jdsupra.com

 

[maldorf]

You know damn well the gubment gonna get their hands in everyone’s cookie jar!

Cage

Gotta pay your fair share.

 

[maldorf]

thats the problem, the apps are going to report you now, it used to be 200 transactions or 20,000$ now it's 600 you'll get a 1099 sent to you and goverment

I wonder if the government will give us back money if we lose it in the market?

 

[FrancisK]

Idgaf about wat they say i just wont report it. Fuck their law.

Haha right, you’re only getting away with that if you don’t have shit for them to take anyway.

 

[maldorf]

They even wanted to tax us on unrealized gains! Like if your property value goes up. Give them an inch and they take a mile.

 

[Gnrmmk]

Haha right, you’re only getting away with that if you don’t have shit for them to take anyway.

I got away wit more shit than that. Dw. If u use any brain ul get away with anything. Steroids r illegal in the 1st place yet im getting away with it.

 

[FrancisK]

I got away wit more shit than that. Dw. If u use any brain ul get away with anything. Steroids r illegal in the 1st place yet im getting away with it.

I don’t think you quite understand the situation with this to say the least…..