Starting on Jan 1, 2022, we're required by the IRS to collect your full 9-digit Social Security number (SSN) - Politics Discussion

[–] B1cKsurN (17405) 2 years ago

Ironically, the self-professed "Anti-authoritarians" are voting all this shit into existence and gleeing about it.

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[–] Bubbathegut (18047) 2 years ago

And now all these new taxes that are collected are going to pay off other people loans. Which really makes no sense. But alas, this is Dementia Joes new Tyrannical america.

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[–] snepts (11123) 2 years ago

You fucking pubs invented creative accounting when Dubya decided the Budget Deficit wasn't a real thing and didn't have to balance the national US government budget.
The perfect example of pubs causing a shitty situation and blaming Dems for it. Fuck you @!

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[–] chilidoggg (14264) 2 years ago

"Deficits don't matter, Reagan proved that."

Tax Freedom Day

1979: April 22
2019: May 8

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[–] Gd5150 (11747) 2 years ago

Are they “anti-authoritarians”? Do the lemmings even know what that is? I doubt it. They follow instruction. They have no ability to think.

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[–] Thaisticks (3020) 2 years ago

Sounds like they're trying to get the tax cheats. Anybody who cheats on their taxes should be tried as a traitor.

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[–] CraigC (8160) 2 years ago

All you democrats should be tried as traitors.

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[–] snepts (11123) 2 years ago

You are so fucked up. This is why we shouldn't have free speech, so a fuck head like you can't keep going off like the Gay Inspector with no recriminations. You are a shitty person yet go about like you're above reproach. The worst sort of creep we have among us.

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[–] [deleted] 2 years ago

????? 🤣🤣

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[–] Bubbathegut (18047) 2 years ago

Not really, they are taxing people selling stuff on the internet. Lets say you buy a couch at the store for a $1000, then 3 years later you sell it online for $600. You will be paying taxes buying it and selling it. Which means the Federal Gov is double dipping. This new tax only hurts the small internet business owner not large corporations who can afford lawyers not to pay taxes.

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[–] Thaisticks (3020) 2 years ago

The first tax is a state sales tax, the second is income tax. Entirely different and equitable. They have been taxing internet sales for years. This is designed to catch those scoff laws selling UTR and not paying their tax.

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[–] Bubbathegut (18047) 2 years ago

I think you are confusing it with sales tax. Internet sales tax has been around for a while. This is a tax on selling items on Ebay, Venmo, etc. Say if you owe someone $600 and you pay them via Venmo. The person that receives the money will have to report it as income and therefore be taxed.

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[–] Thaisticks (3020) 2 years ago

No difference buying at a store or online--for a long time people didn't pay tax for online purchases, but the govt eventually caught up with the cheaters. Taxes are what we pay to live in a civil society--even rethugs acknowledge that, although they are always clamoring for lower taxes, cuz they don't really care about those less well off than them.

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[–] Bubbathegut (18047) 2 years ago

I think you are confusing it with sales tax. Internet sales tax has been around for a while. This is a tax on selling items on Ebay, Venmo, etc. All transactions totaling more than $600 will be reported to the Gov and will be reported as income and you will have to pay taxes on it.

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[–] Thaisticks (3020) 2 years ago

OK then then it's an income tax. When you buy a couch at a store you pay a sales tax. When you sell a couch you pay an income tax. What's your beef with that? Income is taxable, and we pay a lot less in taxes than many other countries--and in return get far less from the government, like lousy health care and hideously expensive college education at state schools.

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[–] Bubbathegut (18047) 2 years ago

I think you are confusing it with sales tax. Internet sales tax has been around for a while. This is a tax on selling items on Ebay, Venmo, etc. All transactions totaling more than $600 will be reported to the Gov. Lets say you are my best friend and you loan me $700 in cash. I pay you back later via Venmo. By law, Venmo has to report that $700 as income and you will have to pay taxes on it.

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[–] Thaisticks (3020) 2 years ago

You keep repeating the same exact answer. Some sort of mental insufficienvy there.

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[–] Bubbathegut (18047) 2 years ago

Because you keep saying the same thing. Its a digital/online income tax. No matter what you are selling or receiving money. Anything over $600 will be reported as income. How do I tell the Gov that I was selling old junk on Ebay for a loss or profit? They dont care and just want more money from us.

What happens if I receive a 1099-K and don't report that on my taxes next year?

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[–] kspkap (13555) 2 years ago

Well, there goes the neighborhood! Was it old Ben Franklin who said “Never a borrower or lender be?”

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[–] CraigC (8160) 2 years ago

You are really terminally stupid to post what you did here.

You don't pay income tax on selling your personal property, stupid. You pay income tax on INCOME. If you're selling your property, you already paid income tax on that money. In fact, if we are to rationalize this, if you paid $1000 and five years later sell it online for $500, you should claim the $500 against your taxes as a loss. Not income, you halfwit.

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[–] beancrisp (1625) 2 years ago

FACT: Logic dictates that buying something at a store and layer selling it for less than you paid for it should not be counted as income. Prove me wrong.

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[–] kspkap (13555) 2 years ago

Please, please tell us you aren’t that ignorant! God help us all if the ones running the country believe as you do! Apparently they do!

Scenario: You paid $1000.00 for a sofa. The sales tax was 7%. The total comes to $1,070.00. You’re very happy you had to pay that extra $70.00.🙄

Most people with common sense realize furniture depreciates the moment it’s delivered, unless it’s an antique. A year later for some reason or another you sell the sofa for half what you paid $500.00, if you’re lucky.

I cannot for the life of me believe you think that $500.00 is income! It’s no different than a yard sale, a garage sale, etc. Dammit! It’s NOT INCOME YOU NITWIT! You didn’t earn the $500.00. You sold a piece of merchandise for less than what you paid for it plus at the time of purchase you paid a tax on it…a sales tax.

I had an estate sale last year when I sold my house. Without a doubt there was over $15,000.00 worth of merchandise. After paying the handlers 30% I received less than $4,000.00 and you believe that was INCOME for me? Oh Lordy me! Your ignorance astounds me! This is what I refer to as 1 Megohm from ear to ear!

God help us all!🙏🏻

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[–] moviechatterer (15583) 2 years ago

just playing devil's advocaote here ...

But what if .... instead of buying that sofa new for $1,070.00 , you bought it for £300 off someone who was moving into a smaller place?

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[–] kspkap (13555) 2 years ago

I had to convert the £300 to U.S. dollars. Thank you…NOT! So I bought it for $364.31. To that query I ask Huh? What are you asking?

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[–] moviechatterer (15583) 2 years ago

apologies for the £, I meant to $ , but even at $364.31 my point is the same :

If you sold an item for more than you purchased it - its income.

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[–] kspkap (13555) 2 years ago

I’m the purchaser for which I paid $364.31 for a used sofa. The seller originally paid $1070.00 including sales tax for the sofa. Neither of us will have to pay an income tax. The seller didn’t sell it for more than s/he paid. It was a loss which believe me it happened to me during my estate sale.

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[–] moviechatterer (15583) 2 years ago

but in your example
" A year later for some reason or another you sell the sofa"
for $500

So you've now made $136 of income

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[–] kspkap (13555) 2 years ago

As per me:

” A year later for some reason or another you sell the sofa for half what you paid $500.00, if you’re lucky.”

Huh? Excuse me. Did you completely read my prior post?

How in the world do you think by me paying $500 for a used sofa I made “made $136 of income”? I’m not the original purchaser of the sofa who paid $1070.00. S/he sold it TO ME for $500.00! The seller actually lost money by selling it for half price.

Also, read your reply again. You are confirming the transaction…seller buys the sofa for $1070.00 then sells it for $500.00 to me. It appears you don’t understand. Do you believe the sofa is INCOME for me?

” But what if .... instead of buying that sofa new for $1,070.00 , you bought it for £300 off someone who was moving into a smaller place?”

Again, I, as the BUYER, paid someone $500 for their used sofa which originally cost the SELLER $1070.00. The seller has a loss.

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[–] moviechatterer (15583) 2 years ago

alright alright , forget who sold what to who , jeez .

New example:
someone buys sofa for $500 , sells it for $1000

They made income yes?

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[–] kspkap (13555) 2 years ago

” alright alright , forget who sold what to who , jeez .”

No can do until you admit your scenario came out of

“One Flew Over the Cuckoo’s Nest.”

when you wrote the following:

”A year later for some reason or another you sell the sofa for $500

So you've now made $136 of income

You’re not getting off that easy!

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[–] moviechatterer (15583) 2 years ago

ffs , ok here is your text I was responding to :

Scenario: You paid $1000.00 for a sofa. The sales tax was 7%. The total comes to $1,070.00. You’re very happy you had to pay that extra $70.00.🙄

Most people with common sense realize furniture depreciates the moment it’s delivered, unless it’s an antique. A year later for some reason or another you sell the sofa for half what you paid $500.00, if you’re lucky.

I cannot for the life of me believe you think that $500.00 is income!

Summary: In your example sofa bought for 1000 sold for 500
so I said :
What if it was bought for 300 and sold for 500 ?

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[–] moviechatterer (15583) 2 years ago

Bump!
Please respond to one of the above replies , preferably the couch example!

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[–] kspkap (13555) 2 years ago

It’s bumped with a confusing question. Again I ask…Huh?

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[–] moviechatterer (15583) 2 years ago

like you , I'm keen to see how Thaisticks can justify $500 coming in after $1000 going out as income.

I sorta bumped twice I guess as i can see both sides of this discussion.
I can see why the regulation on the OP has been implemented , although i dont agree with it.

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[–] snepts (11123) 2 years ago

Just cut and paste responses. That shows you're just an operative, a bot, an interloper here just to cause discord and confusion. Eff U, except you aren't even a person who should have a broomstick shoved up their ass. You're a foreigner somewhere else paid to be an asshole and cause trouble. Or a bot spitting out mindless nonsense to, golly, ... stir up trouble.

YOU SUCK, PUTIN ! Tell that to your boss.

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[–] Padeen (6459) 2 years ago

Sell the couch on Craigslist for cash? I just sold a couple old mopeds and no way would I have accepted Venmo or CashApp. This new law is basically for sellers on Ebay, Etsy or other online marketplaces and I agree its unfair. It used to be $20,000 or over 200 items.

Also, I've read this law doesn't apply to receiving money for family or friends, so at least there's that.

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[–] CraigC (8160) 2 years ago

Etsy already reports your earnings on a 10-99.

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[–] Padeen (6459) 2 years ago

I know.

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[–] Bubbathegut (18047) 2 years ago

Craiglist is the devils armpit. Most people just want my number but never buy anything. Maybe 1 out of 5 people might be serious. Years later, I get multiple spam calls and texts everyday.
I have my friend list stuff on Facebook marketplace. Seems to be a lot better.

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[–] Padeen (6459) 2 years ago

I used to sell extra Sox tickets on Craigslist, so I'm very aware of the scams and weirdos. I definitely met a few characters in those days. Recently though, I've had good luck with a few sales, so I guess you need to know what to look for when people respond to your ads. Anything small I'll throw on Ebay and eat the fees.

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[–] zaq123 (2389) 2 years ago

I don't like it either, but I just read that personal items sold at a loss aren't taxable.

https://www.foxbusiness.com/economy/irs-warns-americans-threshold-report-venmo-cash-app-payments

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[–] Bubbathegut (18047) 2 years ago

How does one explain to Ebay and the Gov that I am selling old junk online? Should be interesting come tax season. Meanwhile the Gov is giving away billions to Ukraine and paying off student loans. Thanks dems.

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[–] zaq123 (2389) 2 years ago

True. And if, for example, you bought something for 500 bucks in the 70s and sold it now for 700 you are actually selling at a loss adjusted for inflation. And who keeps receipts that long?

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[–] snepts (11123) 2 years ago

[deleted]

[–] [deleted] 2 years ago

?? 🤣

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[–] davebuffalo (3442) 2 years ago

I'm sure you have a child porn ring

There he goes again. As soon as you label yourself as anti-Democrat, You have a child porn ring. Not sure I see the connection. snepts really needs to get help in coping with people of opposing opinions, instead of just calling them rapists and kiddie-porn viewers. How sad.

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[–] Kimmie (353) 2 years ago

Isn't that the trump method, you operate your business at a loss and write it off as a tax deduction?

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[–] zaq123 (2389) 2 years ago

Only Trump is expected to pay taxes on losses. Everyone else can subtract losses from gains but not allowed for Trump.

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[–] kspkap (13555) 2 years ago

No, silly. It’s the way they ALL do it! Damn! You are ignorant!

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[–] kspkap (13555) 2 years ago

And the idiot voters voted that damn bunch back into office! Not one Republican voted for this “grab your money” bill. You just can’t win in this country any longer!

THE AMERICAN RESCUE ACT

”Every damn time the Democrats GIVE you something it’s more out of our wallets we have to pay!”

Damn them all to HELL!

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[–] B1cKsurN (17405) 2 years ago

Taxation is theft.

This is taxation without representation. America kinda fought a war over that concept...

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[–] Thaisticks (3020) 2 years ago

Taxes are what we pay for a civilized society. - - O. W. Holmes
Also your elected congress decides tax issues, so in no way is it "taxation without representation."

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[–] B1cKsurN (17405) 2 years ago

For public services, not fucking Ukraine

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[–] Thaisticks (3020) 2 years ago

Everybody has their qualms about where some of their tax dollars are spent. But we either hang together or we fall apart.

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[–] Information-Police (4889) 2 years ago

"taxation without representation"

I'm glad you are in favor of DC statehood.

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[–] B1cKsurN (17405) 2 years ago

D.C. can't be an official state. Don't live there.

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[–] Information-Police (4889) 2 years ago

But it can. If they just designate a core around federal buildings as the federal capital and the populated areas as a state. As it is, DC far exceeded the area designated in the constitution for a federal district.

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[–] LogicalLeftist (869) 2 years ago

great so start paying for your roads, police, military, schooling all privately by yourself.

this is how society functions, you know, all those things you benefited from and continue to benefit from?

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[–] B1cKsurN (17405) 2 years ago

I looked at my asshole in the mirror today.

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[–] LogicalLeftist (869) 2 years ago

unlike conservatives I don't want to control your life so you do you

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[–] snepts (11123) 2 years ago

You KINDA had a thought that wasn't worth putting a bullet through your skull to rid it, you fucking moron.
If you think you can reduce the American Revolution to fit your pathetic little narrative, go talk to some tombstones.
I'm sure they'll be happy to have the company. And they would be the only ones.

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[–] Kimmie (353) 2 years ago

America, the nation that was formed because we didn't want to pay taxes ofcourse will have the most tax cheats

If you don't cheat on our taxes you aren't a real american ...lol

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[–] Kowalski (75520) 2 years ago

SAME AS EBAY. NOEMOJI

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[–] Information-Police (4889) 2 years ago

Is it a surprise that you have to pay tax on income?

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[–] Bubbathegut (18047) 2 years ago

What about if you are selling items that you have previously bought at a garage sell?

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[–] Information-Police (4889) 2 years ago

You deduct the price you paid for it and only pay tax on the profit. THAT IS HOW BUSINESSES WORK.

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[–] Bubbathegut (18047) 2 years ago

So having a garage sell is a business now? Wouldn't you need a license for a garage sell? Can you explain how selling previously owned items is taxable?

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[–] Information-Police (4889) 2 years ago

Do you write yourself a 1099 when you have a garage sale?

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[–] Bubbathegut (18047) 2 years ago

No, because I am selling items that I have previously bought and paid taxes on. Why should someone have to pay taxes for something they already owned?
Lets say you buy a couch at the store for a $1000, then 3 years later you sell it online for $600. You will be paying taxes buying it and selling it. Which means the Federal Gov is double dipping.

Instead of the Fed Gov punishing Ma and Pa trying to sell a few things and go after corporations who dont pay their fair share of taxes.

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[–] Information-Police (4889) 2 years ago

Relax, nobody is going after your garage sale proceeds. If you don't create a 1099, you aren't reporting it. Chances are you don't have to. There is nothing new here.

https://www.fusiontaxes.com/thought-leadership/blog/do-i-have-to-pay-taxes-on-proceeds-from-my-garage-sale/#:~:text=In%20the%20vast%20majority%20of,amount%20of%20cash%20in%20hand.

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[–] Bubbathegut (18047) 2 years ago

This is for online transactions and doesn't apply to cash. All online transactions totaling more than $600 will be reported to the Gov. Lets say you are my best friend and you loan me $700 in cash. I pay you back later via Venmo. By law, Venmo has to report that $700 as income and you will have to pay taxes on it.

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[–] Padeen (6459) 2 years ago

Reimbursements and gifts will not be taxed.

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[–] B1cKsurN (17405) 2 years ago

Yet.

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[–] Bubbathegut (18047) 2 years ago

What about online transactions totaling more than $600? If I sell my vehicle on Ebay and receive a payment on Ebay, by law, Ebay has to disclose that information to the Gov and now I have to pay income taxes on a vehicle that I owned. It makes no sense really.

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[–] Padeen (6459) 2 years ago

Yes. As I mentioned in my first post, the threshold for receiving a 1099 on Ebay used to be $20,000 or 200 items in one year. Now they have lowered it to $600 in one year.

Never sell a car on Ebay though. The fees alone will kill you. Craigslist is your best bet with cash only. If someone offers you a cashiers check, its a scam 99% of the time.

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[–] Bubbathegut (18047) 2 years ago

Oh I know, just providing an example. Selling on Facebook marketplace is better than Craigslist. I always get scammers and people trying to buy stuff for free.

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[–] Kimmie (353) 2 years ago

So ma and pa businesses should benallowedvto lie about thier income but not corporations?

The law is clearly directed at people making solid income from online sales who dont report it. Not a few dollars here and there from junk sales

Ebay isn't only for junk sales, and even then if youhave a limited edition comic that is worth some $5000000, you should pay your taxes, not try to finagle outbof it by saying it is just a garagesale

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[–] Kimmie (353) 2 years ago

America does not have a wealth tax, liquidating assets creates income.

Income is taxable wherheryou want to paytaxes on it or not

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[–] snepts (11123) 2 years ago

What if? What if you poison your neighbor's dog? What if you organize KKK meetings? What if ?

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[–] chilidoggg (14264) 2 years ago

The Income Tax Code almost literally starts with "everything valuable you receive is taxable unless there is an exception in the Tax Code." A friend helps you check to see if your brake lights are working, that's got some value, right? Even gifts with bullet-proof documentation may be taxable (to the GRANTOR.)

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[–] CraigC (8160) 2 years ago

Wow, you're just as ignorant as every other liberal. Do you even realize you are supporting the deep state? I thought liberals were supposed to be anti-establishment? You're a swamp voter.

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[–] B1cKsurN (17405) 2 years ago

They are overgrown children that require a parent in all aspects of their lives, of course they blindly believe what they are told. Something something useful idiots.

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[–] snepts (11123) 2 years ago

You are the ultimate example of an overgrown child. That you say such a thing acknowledges your awareness of it.
Overgrown child? Gee, that rings a bell ! Reminds you of YOU !

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[–] snepts (11123) 2 years ago

Every other liberal could be DEAD and have half the sense you exhibit here.
You must get paid to be such an EVIL MORON and continue to advertise it here.
Fuck. You're like Satan arrogantly walking among us, telling us how he's going to take over and then things will finally be like they should.
JESUS CHRIST ! PLEASE COME DOWN AND SAVE US FROM THE PERNICIOUS PERSISTENT EVIL !

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[–] zaq123 (2389) 2 years ago

These kinds of tax laws are what the CCP-lite Democrats are counting on to trip up people during audits. Of course they would never take political affiliation into consideration when deciding who to go after. (sarcasm)

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[–] Kimmie (353) 2 years ago

Actually the laws are there so you don't get audited, now rathr than people having undeclared income, ebay will report it foryou automatically

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[–] LogicalLeftist (869) 2 years ago

cough massive military cough corporate handouts cough tax cuts for the rich cough lowering taxes for the rich and corporations so the middle class pay them instead.

oh wait I forgot the republicans love those trillions and trillions and trillions in spending and lost revenue, and only complain when a couple billion help an ally and democracy vs an aggressive dictatorship. when did republicans become such sad simps for Putin?

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[–] SamNoyoun (5827) 2 years ago

The requirement to pay income tax on items you sell over $600 is nothing new(it's always been the case,) they're just able to be more vigilant about collecting it now as folks move from cash sales to payment apps...

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[–] snepts (11123) 2 years ago

Thanks for the update, asshole. What the fuck have you or your rethuglican party ever done to elevate America?
Other than Communist (wait for it, words you all have loved to invoke these days) Witch Hunts, Pissing Down Economics, Deregulation that strips workers of pay, security and safety? Despoiling the Environment?
Any other wonderful accomplishments the pubs have brought us? Segregation, the KKK, Citizens United, negating Roe v Wade? Invoking the Bible while ignoring it's teachings? Using the Founding Fathers to distort their intentions?
Perjury Taylor Green, Herschel Walker, Mehmet Oz? Josh Hawley, Ron Desantis, Madison Cawthorn, Kari Lake?
My god, it's like parading your children out on Halloween and dressing them up as the worst things imaginable and being proud of it. "My kids are blood-sucking zombies. No, I'm not kidding. They really are ! They got it from me !"

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