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The Tax Man Cometh. Again and Again.


automatico
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Bad news.  The IRS is demanding another pound of flesh. 

TimeZone : Public Forum » IRS Form 1099-K

 

This will not be good for people who sell knickknacks on eBay and many other online outlets.  

Example:  If you sell a watch online for $2000, get paid by pay pal etc, now you get a 1099 for the sale and you will owe tax on the profit realized on sales totaling over $600 per year.  If you lost $$ on the deal, you will have to prove you lost $$ by providing proof of the purchase price, receipts for any work/parts on the watch etc.  If you get audited and end up butting heads with a Colonoscope weilding IRS Dildo who would not know a Vacheron from a Velamint...they may demand tax on the total sale price if you can not provide proof of a loss.  Who knows what they might do?

 

Gummit Idiots are forcing more and more citizens into an ever-growing Underground Economy.

I rest my case.  Related image | Jester costume, Jester outfit, Medieval jester

 

 

 

 

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Combine this with the coming replacement of physical currency with DUSDs (digital US dollars) & 1984's Big Brother is no longer just your big brother, he is your parent, controlling what you can/cannot buy, do & say. At some point, I fear the people may be forced to remind mommy who the boss is & she will not be willing to give up power peacefully.

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Yeah you pretty much have to use friends and family transactions these days if it’s going to be over 600 bucks. Good luck proving you lost money on a Paul Newman Daytona replica you built. 😂

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  • 3 weeks later...

I'm waiting for PP to suspend my account as I have never provided them with my SSN.  They harassed me about it for a couple of years and apparently gave up!

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