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| American Rescue Plan Act https://mail.chicagofanatics.com/viewtopic.php?f=75&t=126954 |
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| Author: | Drake LaRrieta [ Wed Dec 01, 2021 10:27 pm ] |
| Post subject: | American Rescue Plan Act |
Turns out there was a little surprise for online sellers in a 591 page "rescue" bill. https://www.cnbc.com/2021/03/26/its-goi ... sales.html Starting next year, the federal threshold for issuing the 1099-K will drop to $600 with no minimum transaction level, due to a provision in the recently enacted American Rescue Plan Act. |
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| Author: | IkeSouth [ Wed Dec 01, 2021 10:43 pm ] |
| Post subject: | Re: American Rescue Plan Act |
who cares dont file it |
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| Author: | This Ends in Antioch [ Wed Dec 01, 2021 10:51 pm ] |
| Post subject: | Re: American Rescue Plan Act |
IkeSouth wrote: who cares dont file it I thought Biden is deploying a new army of IRS agents that the naïve think will finally hunt down those pesky billionaires not paying their fair share. |
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| Author: | IkeSouth [ Wed Dec 01, 2021 10:54 pm ] |
| Post subject: | Re: American Rescue Plan Act |
theyre going to run the next election on the claim they created the most audits in us history, and then wonder why they lost so badly. |
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| Author: | This Ends in Antioch [ Wed Dec 01, 2021 10:58 pm ] |
| Post subject: | Re: American Rescue Plan Act |
IkeSouth wrote: theyre going to run the next election on the claim they created the most audits in us history, and then wonder why they lost so badly. Well there’s a theory out there that nobody would govern like the Biden admin if they were worried about losing a free & fair election, but I’ll leave that one alone for now. |
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| Author: | Ogie Oglethorpe [ Thu Dec 02, 2021 1:52 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Just hope Manchin and Sinema tank BBB so the IRS can't hire more gestapo err I mean agents |
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| Author: | Frank Coztansa [ Thu Dec 02, 2021 1:54 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Rescue 911 Rescue Me Rescue Dawn |
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| Author: | This Ends in Antioch [ Thu Dec 02, 2021 1:55 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Frank Coztansa wrote: Rescue 911 Rescue Me Rescue Dawn Chip n Dale |
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| Author: | Brick [ Thu Dec 02, 2021 1:56 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Drake LaRrieta wrote: Turns out there was a little surprise for online sellers in a 591 page "rescue" bill. https://www.cnbc.com/2021/03/26/its-goi ... sales.html Starting next year, the federal threshold for issuing the 1099-K will drop to $600 with no minimum transaction level, due to a provision in the recently enacted American Rescue Plan Act. If you are running an online business you should be subject to paying taxes on that income. What is the problem? |
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| Author: | Regular Reader [ Thu Dec 02, 2021 3:26 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Brick wrote: Drake LaRrieta wrote: Turns out there was a little surprise for online sellers in a 591 page "rescue" bill. https://www.cnbc.com/2021/03/26/its-goi ... sales.html Starting next year, the federal threshold for issuing the 1099-K will drop to $600 with no minimum transaction level, due to a provision in the recently enacted American Rescue Plan Act. If you are running an online business you should be subject to paying taxes on that income. What is the problem? And why is a provision that has been public knowledge for over eight months suddenly a revelation? |
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| Author: | KDdidit [ Thu Dec 02, 2021 3:31 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Sounds like when everyone got annoyed that states started taxing stuff bought on Amazon. Well no shit. |
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| Author: | This Ends in Antioch [ Thu Dec 02, 2021 3:33 pm ] |
| Post subject: | Re: American Rescue Plan Act |
Regular Reader wrote: Brick wrote: Drake LaRrieta wrote: Turns out there was a little surprise for online sellers in a 591 page "rescue" bill. https://www.cnbc.com/2021/03/26/its-goi ... sales.html Starting next year, the federal threshold for issuing the 1099-K will drop to $600 with no minimum transaction level, due to a provision in the recently enacted American Rescue Plan Act. If you are running an online business you should be subject to paying taxes on that income. What is the problem? And why is a provision that has been public knowledge for over eight months suddenly a revelation? Probably because it’s the time of year when businesses have to start issuing 1099s. |
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