IRS wanting to monitor transactions over $600
(www.icba.org)
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THIS NEEDS EXTREME ATTENTION FOR EVERYONE! SEND THE INFO ON THIS TO EVERYONE YOU KNOW!
March 12, 2021
Reason - Biden's 'Rescue Plan' Will Sic the IRS on Anyone Who Earns $600 in the Gig Economy
https://reason.com/2021/03/12/bidens-rescue-plan-will-sic-the-irs-on-anyone-who-earns-600-in-the-gig-economy/
Buried inside the 600-page bill that's ostensibly meant to provide pandemic relief is a provision requiring gig economy platforms to report information to the IRS about all users who earn at least $600 in a year. Previously, platforms were only required to provide the IRS with information on users who made at least 200 transactions or earned at least $20,000.* https://www.congress.gov/bill/117th-congress/house-bill/1319/text
(August 11, 2021) Americans for Tax Reform - Senate Democrats Vote to Make Taxpayers Vulnerable to IRS Targeting and Harassment
https://www.atr.org/senate-democrats-vote-make-taxpayers-vulnerable-irs-targeting-and-harassment
All 50 Senate Democrats support President Biden's plan to monitor bank accounts, Venmo accounts, and other financial accounts with a value exceeding $600. Yesterday, they voted against Senate Finance Committee Ranking Member Mike Crapo’s (R-Idaho) S. Amdt #3099 to S.Con Res. 14, which would have prohibited the IRS from implementing President Biden’s proposal to create a new financial account reporting regime which would force the disclosure of any business or personal account that exceeds $600.
President Biden wants to give the IRS $80 billion in new funding. This funding would add 87,000 new IRS agents that Biden claims will squeeze taxpayers for an additional $787 billion. It will allow the agency to audit and harass more taxpayers. A major way the agency will do this is through this new $600 reporting regime.
https://www.atr.org/biden-budget-calls-30-tax-increases
https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf
Can you create a post with this info? It should be stickied. This is our version of China’s Social Credit Score.
It IS being implemented. It will not be rolled out with publicity. “Vax Verify” is being run though Experion.
Wow, great data, yours needs a sticky. I wish there was a place on the board where the most informative replies could be housed separately, because how many people go back and read comments to posts they already perused?