NEW IRS $600 SURVEILLANCE RULE

                            https://youtu.be/l9jyihvHQw0

          Cash App, Venmo, Pay Pal, Zelle

        Since alot of posters are using offshore betting sites...I figured I would post this ...I realize that alot of you are using bitcoin but figured I would post this anyway ....This includes doing business with online busineses where you are using a cash app

              ***** Comments welcome below

           I tried copying the URL address and I see its not highlighting ....just GOOGLE ...New IRS $600 Surveillance Rule .YOU TUBE.....and the video of the Asian guy in the video should pop up .....

Another reason to switch to bitcoin

i think this only applies if you receive money, not if  you send. still fked up tho

       Yea if you receive a total of $600 you will receive a 1099 in the mail at the end of the year ...But of course is best to listen to the 10 min video thatbbreaks down everything ...

Unfortunately I received my 1099. I use bitcoin on cashapp 

There have been numerous articles stating ZELLE will not be exempt ...best you check with your tax advisor to be on the safe side ....Its $600 total for the yr which is absurd ...you will receive a 1099 K at the end of the year

Lots of misinformation here 

https://nypost.com/2022/02/07/dems-sneaky-new-rule-will-let-irs-target-harass-little-guys-over-600-payments/

Buried deep in the “COVID relief” law that Democrats rammed through last March is a provision forcing Venmo, PayPal and other third-party payment services to send the IRS details on anyone who receives more than $600 a year in “business” payments. What a way to screw the little guy!

How this qualified to be part of the $1.9 trillion “American Rescue Plan” is beyond us. What was wrong with the old rule, which required reporting only if the recipient got more than 200 payments, topping $20,000, in a given year?

Now countless mom-and-pop shops, people who moonlight selling items or services on the side and other small-timers can expect to get 1099-K forms, listing potentially taxable income. Many payments — small gifts, a reimbursement from someone for dinner, etc. — might not be taxable, yet may be listed on the forms anyway, possibly triggering new IRS audits with all the new “revenuers” that President Joe Biden is looking to hire.

Biden and his party mates claim they want to make top earners pay their “fair share,” but here they are targeting low- and middle-income people who collect payments of as little as $600. And calling it a “rescue”!

Now Dems are seeking $80 billion in new IRS spending to fund more audits — and 87,000 new IRS agents. They truly believe that having Uncle Sam squeeze every possible nickel and dime out of everyone (and spying on your every move to do it) is the path to social justice.

Anyone who voted for this petty, punitive garbage deserves to lose his or her next election. For the record, that’s zero Republicans, but every Democrat in Congress except Maine’s Jared Golden.

Here ya go.

That's what Putin said so he took a page out of Twitter and Facebook gamebook and cancelled " misinformation".

That’s dumb as hell. Ppl use Venmo for splitting a zillion things. Taxes should not apply to Venmo or Zelle or Apple Pay . Dumb 

Good lord...   The universal rule was 200 transactions AND $20K but there were already a handful of states with a $650 threshold prior to this change ...but why do research when you have a rant ready to go!

@UNIMAN

 you lost me at Dems , i do not remember having any benefit to any two of these corrupt organizations who neither pays any taxes much less that pos Trump

dude who was acting getting tax money from people of NY and is a damm thief , all these corrupt jagoffs from both parties were making money from firesale of covid related stocks so can not believe you believe their is one party that benefits us small people .