Utopia Talk / Politics / The IRS goes after billionaires &million

Habebe Member	Tue Mar 21 06:02:57 They have apparently been selling $600 worth of stuff on E-bay this whole time. Remember when Democrats swore they. Only needed to massivley increase the IRS so they could go after the Billionaire tax cheats and not regular income ppl? Or when they refused to limit the amount of people under 150k to today's share of audits voted on entirely on party lines and they said to just trust them they don't want to squeeze the little guy , they just need a new army of collectors, many armed in order to go after the rich tax cheats that can afford to cheat the system legally. Now they are coming after anyome who sells more than $600 on Ebay....to catch those damn billionaires. PS. Anyone interested in buying some comic books directly from the seller? #fuck ebay.
Nimatzo iChihuaha	Tue Mar 21 07:40:08 Of course it was a lie, wealthy people can afford tax planning and lawyers more competent and numerous than the IRS.
Dukhat Member	Tue Mar 21 08:36:48 This news is over a year old. They paused enforcement of it and it's mainly democrats trying to get the thresehold increased to something more reasonable. Looks like some poison pill put in by Republicans in committee. It's not worth the IRS' time to verify a few thousand dollars of transactions.
Habebe Member	Tue Mar 21 10:59:16 Dukhat, The new part of the story is the crackdown on 3rd party sellers like Amazon or E-bay. Traditionally anyone who sold less than $20k worth of goods were left to self report and didn't have to file. Now they are mandating any account $600 or more to have mandatory filing with E-bay/Amazon tallying the info.
Habebe Member	Tue Mar 21 11:05:37 http://www...-third-party-sellers/12926032/ The democrats have basically become the Sherriffs of Nottingham party.
Habebe Member	Tue Mar 21 11:10:50 I discovered a work around these insane rules. Apparently Everything I sold, I actually paid more for it than it sold, I lost money. Not Only can I not be taxed on that, but it provides wiggle room when I do have reportable income for them.
jergul large member	Tue Mar 21 12:28:59 ^How you ever went to jail is just incomprehensible :D
murder Member	Tue Mar 21 16:42:17 "Now they are coming after anyome who sells more than $600 on Ebay....to catch those damn billionaires." I'm sorry ... you think that everyone who sells $600 worth of crap on E-bay is being audited? "Now they are mandating any account $600 or more to have mandatory filing with E-bay/Amazon tallying the info." NEWSFLASH: You have to pay your taxes. That doesn't make the IRS evil, that makes you a tax cheat.
murder Member	Tue Mar 21 16:42:44 "^How you ever went to jail is just incomprehensible" Apparently he liked it inside.
Habebe Member	Wed Mar 22 03:49:46 "^How you ever went to jail is just incomprehensible :D" Honestly, It's not even much of a money issue, I could be. Billionaire and I would feel it is my duty to fight the good fight in what most may see as Psuedo-legal tactics, the law is great when you can maneuver around it. Look at Pinochet, the man was fucking "Super legal", you can see a big part of why I like Trump. Murder "NEWSFLASH: " Murder in 1775 "NEWS FLASH! You have to pay your taxes. That doesn't make the King evil, that makes you a tax cheat." Im sorry, this excessive abuse on people, it was brought about through illegitimate government officials who lied and said they only needed to go after the super rich tax cheats and they didn't actually plan to torture and torment the lower suffering classes more just sonwe can give it to our Ukrainian overlords. Fucking Serfdom! Seriously, $600! I wipe my ass with much fucking money, $20k was reasonable.
murder Member	Wed Mar 22 09:56:52 "Murder in 1775 "NEWS FLASH! You have to pay your taxes. That doesn't make the King evil, that makes you a tax cheat."" The king was not evil. He was king. The monarchy is evil. "Im sorry, this excessive abuse on people, it was brought about through illegitimate government officials who lied and said they only needed to go after the super rich tax cheats and they didn't actually plan to torture and torment the lower suffering classes more just sonwe can give it to our Ukrainian overlords." No ... no I'm pretty sure you've always been required to pay your taxes. I don't think that is a new thing and I sure it has nothing to do with Ukraine. "Seriously, $600!" Unless that's all you've earned all year, then it's not just $600. It's $600 + all your other taxable income. Quit being a tax cheat.
Forwyn Member	Wed Mar 22 21:10:59 "you think that everyone who sells $600 worth of crap on E-bay is being audited?" Lol. Retarded. It gives the IRS much greater leeway with audit powers on the poor, regardless of how stringent they are in using them. 1% is still millions of people.
murder Member	Wed Mar 22 21:39:18 No it doesn't. It means that you have to report income like every other damn body.
earthpig GTFO HOer	Thu Mar 23 01:06:12 " "These companies are required to file a 1099 on these individuals if their transactions are exceeding $600," she said. Failing to report can be costly. " IRS form W2 and IRS form 1099 exist to ensure honesty. One copy to the tax-payer, and one copy to the IRS. So if you under-report gross earnings, it's obvious (which is why it's rare that anyone attempts to).... if (and only if) you are in the W2/1099 paradigm. Here's the problem. There is no equivalent to either form for corporate-to-corporate payments. If you're a corporation, you're just trusted to be honest, if you're at the $20k gross revenue mark, or at the $500k gross revenue mark. I have an entity that gives me payments, and I have an entity that I pay. All three of us are one-person S-Corps (meaning we all paid some fees and filed some paperwork to purchase a bunch of shares in a corporation we made up out of thin air for $1 a share, or similar. I had a lawyer work it up, I cannot speak for the others). None of us are billionaires, far from it. But if you want consistent enforcement, we should probably start with introducing a corp-2-corp equivalent of a 1099 or W2. If Microsoft can afford to pay whatever it pays each year to Cisco (and vice versa, and so on), they can afford to have an accountant send an IRS Form C2C to both the business entity it is paying, as well as a carbon copy to the IRS. It's the biggest fucking super obvious, not even a secret to those aware of it hole, in the entire system. And I'm a fucking idiot b/c I do my taxes honestly (you couldn't prove otherwise if I didn't, since I'm on the corporate honor system), but what can I say -- I'm a patriot and like funding the COVID stimulus payments of hundreds of other people.
kargen Member	Thu Mar 23 19:12:39 they are also stepping up going after waiters/waitresses.
Jesse Malcolm Barack Member	Fri Mar 24 19:13:23 "Remember when Democrats swore they. Only needed to massivley increase the IRS" Dude why do you lie so much? http://www...y-false-claim-about-army-8700/ Kevin McCarthy’s mostly false claim about an army of 87,000 IRS agents Although the agency’s staff would increase, it’s key to note that over half of the IRS workforce is close to retirement. The plan was created with that exodus in mind and aims to hire thousands of people to simply maintain current levels. Today, the IRS has about 80,000 employees. "The IRS will lose about 50,000 people over the next five or six years," So, the 87,000 wasn’t exclusively for people on the enforcement side, and it wasn’t all going to boost the overall size of the IRS workforce.
kargen Member	Fri Mar 24 19:18:19 McCarthy didn't lie near as much as that article makes you believe. A turnover of agents is still new agents. His numbers mostly match what the IRS has said. What differs is where they say the money is going to come from. History tells us it is going to come from the people that can't afford lawyers.
Habebe Member	Fri Mar 24 22:14:43 Murder, "Unless that's all you've earned all year, then it's not just $600. It's $600 + all your other taxable income. Quit being a tax cheat." Every account that transact $600 a year, not evem $600 in income must be recorded and monitored by the federal government. If you transact $1.64 a day the feds now need an armed militia to monitor your activity.That while a dozen eggs are going for $6/dozen. This is insane. And has nothing to do with going acter rich tax cheats as much as it does squeezing every penny out of the easiest targets. Rich tax cheats use the preferred methods you are encouraged to use in order to cheat your taxes, like corporations. Jesse, Where did I lie? So they hired secretaries as well, I literally have posted the exact breakdown of where the funds are going. 1. They are hiring 87k new workers over ten years to the IRS. 2. This will increase their funding and their employees. Both admited facts that nonome disputes.
murder Member	Sat Mar 25 07:54:43 "If you transact $1.64 a day the feds now need an armed militia to monitor your activity.That while a dozen eggs are going for $6/dozen." WTF does the price of eggs have to do with you wanting to hide your income?
Jesse Malcolm Barack Member	Sat Mar 25 08:24:33 "Both admited facts that nonome disputes." They are mostly replacing people who are retiring dude, stop watching fox news its damaged you
Habebe Member	Sat Mar 25 09:29:47 Murder, The amount. $1.64 a day needs to be monitored now and you don't see that as excessive? This is a grander version of collecting taxes on a kids lemonade stand. And it's not that I want to hide my income as much as I don't want to be watched, seems like a breech of basic privacy. We are not talking large sums of money, $20k/yr was a reasonable compromise, demanding receipts for the gum you purchased in March is. Jesse, what is the net increase?
murder Member	Sat Mar 25 12:31:15 "This is a grander version of collecting taxes on a kids lemonade stand." Kids should have to pay taxes on their income from their lemonade stand. That way they will learn the real value of a dollar and hard work. And they should have to file all the proper paperwork to secure a permit and to report sales tax to the state. And they should be subject to the same regulations as any other restaurant including regular health inspections. And they should have to carry insurance in case someone is harmed by their product or someone is injured on their property. And their signage should comply with local restriction. Kids have been getting away with skirting the law for a long time just because they can't read or pronounce words correctly, but that's no excuse. Their attorney can read them all the relevant laws at bedtime.
Habebe Member	Sat Mar 25 13:23:59 Well atleast we agree they should have attorneys on call. Its one of Habebes lofe lessons I try to teach the next gen. 1. Always have a lawyer. 2. Insure everything for more than it's worth. 3. Paying taxes is for losers who own things in their own name amd abide by the law. Winners strive to be more Trumpy.
Habebe Member	Sat Mar 25 13:25:17 4. Lawyers are fine and dandy but when the shit hits the fan you will want a 12 guage with a banana clip and select fire. #Murica
kargen Member	Sat Mar 25 14:34:47 my life lessons are a bit more simple. 1. Splurge on the good toilet paper. 2. You can never have enough towels. I also have the three rules to life. 1. Time keeps everything from happening at once. 2. Eventually we are all food. 3. Always try and smell nice as possible.
murder Member	Sat Mar 25 14:51:12 "1. Splurge on the good toilet paper." This can't be emphasized enough. Every time I see someone reach for paper that isn't fit for public toilets I look at them like they are space aliens. Some things can't be compromised on. Of course that is also why I wouldn't last a month living in the wild if I had to.
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