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finance
Payment apps will now have to report transactions to IRS
submitted 2 years ago by [deleted] from dailymail.co.uk
[–]IkeConn 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 2 years ago (1 child)
Is Biden stupid or what? It is like he is deliberately trying to torpedo Democrats ahead of the 2022 and 2024 elections.
[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 2 years ago (0 children)
I think Democrats are already fucked, but this was to pay for Build Back Better, despite the claims only the wealthy would be taxed there was an assumption in the Biden administration that a lot of taxes weren't being properly collected in apps like these and in crypto. I personally think their estimates are dead wrong. They're just guessing. The hundreds, maybe thousands of dollars an individual didn't pay in taxes, if anything, will be a drop in the bucket.
[–]IkeConn 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (1 child)
[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)