235 The Biden Administration launched an all-out attack on the gig economy, requiring that Venmo, PayPal, and other gig transactions over $600 be reported to the IRS. The One Big Beautiful Bill repeals this insane requirement. (twitter.com) 🏆 - WINNING - 🏆 posted 1 year ago by GDZeus 1 year ago by GDZeus +235 / -0 23 comments share 23 comments share save hide report block hide replies
Alright!
A huge victory over the IRS
It's not passed yet...
Bill? Is THAT you???
Watch Everything Everywhere All at Once. The $600 limit was used to map out the money laundering networks. I guess that's done.
As far as I am concerned, the gig economy is basically a "tip" economy. No tax on tips. No tax on gigs.
Many people do gigs to make ends meet, and it is far better than prostituting oneself or getting into the illegal drug trade, etc.
People sometimes get desperate for money, and gigs are a pretty safe way to make some cash quickly.
IMO.