You are correct. But just so no one misunderstands this new rule, it's not transactions over $600. It's every transaction in every account that has more than $600 in it. Sounds like more data for their simulation systems.
IRS has become weaponized, but is underfunded and understaffed - IE ineffective.
Automate it + weaponize it and now you've got some full-blown economic Tyranny.
Even better, it'll squeeze the large portion of the population that uses creative accounting to shield income. Maybe they'll finally do something about it when they can't afford to eat.
[ + ] Tallest_Skil
[ - ] Tallest_Skil 6 points 3.6 yearsSep 14, 2021 11:56:11 ago (+6/-0)
You say that as though a piece of paper matters. They already track everything over 10k. No one will do anything about it.
[ + ] Battlefat
[ - ] Battlefat [op] 2 points 3.6 yearsSep 14, 2021 12:09:13 ago (+2/-0)
[ + ] HillaryAteMyPizza
[ - ] HillaryAteMyPizza 0 points 3.6 yearsSep 14, 2021 19:29:30 ago (+0/-0)
[ + ] virge
[ - ] virge 2 points 3.6 yearsSep 14, 2021 13:26:37 ago (+2/-0)
IRS has become weaponized, but is underfunded and understaffed - IE ineffective.
Automate it + weaponize it and now you've got some full-blown economic Tyranny.
Even better, it'll squeeze the large portion of the population that uses creative accounting to shield income. Maybe they'll finally do something about it when they can't afford to eat.
[ + ] Battlefat
[ - ] Battlefat [op] 0 points 3.6 yearsSep 14, 2021 14:11:39 ago (+0/-0)
[ + ] lord_nougat
[ - ] lord_nougat 0 points 3.6 yearsSep 14, 2021 17:16:17 ago (+0/-0)