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In other words free reign over everyones banking.....$600? That's a trip to the Grocery store for alot of folks....Bidens proposed legislation will allow the IRS access to all your personal banking accounts and transactions over $600
https://www.10tv.com/article/news/v...unts/530-2b258a53-0e27-4b93-9dfb-3fb687e089db
just insane. this gov't is overreaching like crazy. privacy is disappearingBidens proposed legislation will allow the IRS access to all your personal banking accounts and transactions over $600
https://www.10tv.com/article/news/v...unts/530-2b258a53-0e27-4b93-9dfb-3fb687e089db
Just cause someone sends you funds does not mean it is “income”. Say I found a great price on steak at Publix and my brother, dad, friend, etc. asks to pick them up $125 worth. They send me funds via F&F to cover THEIR cost of goods. That is not income, don’t see how that can be taxed. Not saying they won’t, just saying shouldn’t, lol.I'm sure they will want to tax the recipient on that income!
how many on here are using Venmo to transact? Is it common?Venmo and all other “digital” currency transactions will be the exact same
Guess I'll be getting my ass up and going from one bank to the next. Government bureaucracy at it's finest...If you transfer money between 2 of your personal accounts you will be taxed on that amount