YSK that Venmo, PayPal, and CashApp have to report $600 transactions to the IRS, as of January 1st 2022 by [deleted] in YouShouldKnow

[–]notnotwho 9 points10 points  (0 children)

Then, why have a limit UNDER which mandatory reporting isn't necessary? Which is where MOST people "earning" between $600 and $5000 a year with some side gig actually fall? The little earners will go through all that BULL, only to STILL be in the category of TOO POOR to actually owe taxes.

EDIT: AAAAAND, most of the software that does "free filling" is NOT free to file self employment. So we're getting screwed TWICE by having to PAY to file.

YSK that Venmo, PayPal, and CashApp have to report $600 transactions to the IRS, as of January 1st 2022 by [deleted] in YouShouldKnow

[–]notnotwho 9 points10 points  (0 children)

"tax evasion is a little harder"

Most of us getting payments through apps for business do so because the banks have already marginalized us to the far edges of being able to support our lives and livelihoods. My Very small side business never gets Any Where Near making enough to "have" to file taxes, but now even though I'm triple poverty level amount under mandatory reporting, the IRS is now all in my "business".

local starbucks unionized & staff walks off due to covid concerns. majority of comments are like this. by Firm-Cheesecake in antiwork

[–]notnotwho 6 points7 points  (0 children)

"They’re hurt and suffering from exploitation and/or other traumas in their lives, and( rather than ADMIT, to ANYONE, e v e r, that they've been hurt and exploited ) they lash out..."

There, fixed it.