IRS

[55nitrocowboy]

Who else has to stop selling here because of the new federal tax rules,Biden hiring 87,000 New IRS agents. I'm scared to death .....

[maxine*j]

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@silverstatetreasureboxes wrote:

@chapeau-noir 

Lol, sorry chap I'm guilty as charged with elliptical dots.

It creates a pause effect ( for my added drama)

Ten kicks of an IRS boot for me!

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I, too, am a confessed over-user of ellipses -- and of dashes, too.

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[maxine*j]

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@ms.rodriguez* wrote:

Start documenting your expenses.   Stop being paranoid.  

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Now, that says it nicely!

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[dbfolks166mt]

Only folks who don't have a social security number and morons who believe that the IRS is going after them are going to stop selling here.   Yes, Biden hired more agents but it's been long overdued.  And in case you did not know,  the new tax law for reporting online sales after $600.oo was passed under the Trump administration.

     It is difficult to file taxes without a SSN or ITIN number but you can do it by using a Form W-7, “Application for IRS Individual Taxpayer Identification Number.” That gets submitted to the IRS with your tax return and documents verifying identity and foreign status.

     As a side note the law/act that changed the 1099 reporting requirement thresholds was part of Biden's American Rescue Plan Act of 2021 and was passed under his administration. 

[ms.rodriguez*]

LOL.   Some folks are going to actually believe that comment.

[greatstuff80]

Good grief! 🙄Would people PLEASE read up on this before making more comments. You were ALWYAS required to report income, Biden did not do it, and the new IRS agents will happen over several years replacing many retiring and lost otherwise.  If you have been running an above board business, you have nothing to worry about. 

[maxine*j]

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@dbfolks166mt wrote:

...   in case you did not know,  the new tax law for reporting online sales after $600.oo was passed under the Trump administration...

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The American Rescue Act of 2021, of which the new reporting requirement is a part, was signed into law by President Biden in March 2021.   President Biden must own all its provisions and amendments, for better and for worse.

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[maxine*j]

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@greatstuff80 wrote:

...  If you have been running an above board business, you have nothing to worry about. 

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Nor do the above-boarders mind at all seeing that the jig is up for those who paid no taxes and could, with that unfair advantage, undercut those who played it straight.   Amazing how many of the non-payers come here, expecting sympathy.

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[yuzuha]

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@m60driver wrote:

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Deducting a home office is, at least according to my former CPA for my business, a red flag issue best to be avoided.  Not so much mileage which is one of my biggest expenses sourcing product.

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It really isn't as long as you are using the space exclusively as an office. My father (a self-employed contractor) has always deducted his home office because the room is only used for work purposes. He stores his work documents in there and the only time he ever goes in it is when he's working.

Now, if you're using the room for other purposes besides just an office, then yeah, that's a red flag. You can't have exercise equipment in there too, for example.

[dbfolks166mt]

The American Rescue Act of 2021, of which the new reporting requirement is a part, was signed into law by President Biden in March 2021.   President Biden must own all its provisions and amendments, for better and for worse.

I know that and that is what I wrote when I responded to ms.rodriguez*. The comment before my response was hers not mine. 

[coolections]

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@55nitrocowboy wrote:

Who else has to stop selling here because of the new federal tax rules.

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Those that do not want to pay taxes on money they earn.

[inhawaii]

I heard they're going to be hiring more police officers.

Is anyone scared to death?

Only the criminals.

[maxine*j]

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@dbfolks166mt wrote:

The American Rescue Act of 2021, of which the new reporting requirement is a part, was signed into law by President Biden in March 2021.   President Biden must own all its provisions and amendments, for better and for worse.

I know that and that is what I wrote when I responded to ms.rodriguez*. The comment before my response was hers not mine. 

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My apologies!  I obviously was confused, a state not at all unknown to me.

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[bearswatching]

Who, exactly told you you had to stop selling here? Are you under suspension? 

[chapeau-noir]

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@silverstatetreasureboxes wrote:

@chapeau-noir 

Lol, sorry chap I'm guilty as charged with elliptical dots.

It creates a pause effect ( for my added drama)

Ten kicks of an IRS boot for me!

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@silverstatetreasureboxes  The pause I get, but it's gotten popular to actually end sentences with them that are just, you know, sentences, complete thoughts with all the bits that are supposed to make a sentence, and then they leave ya hanging! 🤤

[nocoolnamejane]

Gotta wonder how much income OP hasn’t reported in order to be scared to death…