The IRS reminds Americans earning over $600 on PayPal, Venmo, or Cash App transactions to report their earnings

[Rigby5]

You should not be able to hide income
The rest of us have to make up for it

Money transfers with something like PayPal are NOT income.
For example, it could be your own money that you paid as a deposit, being refunded.

 

[Rigby5]

No. You don't, If you take benefits beginning when you are first eligible (62)you get them at a reduced rate. Approx 10% less per year. And they stay at that rate (not counting COLA) for life. As opposed to getting "full benefits" at 66

Depends on what you do with the money.
If you use the money to do something that appreciates more than the loss from early applying, then it makes sense to apply early.
Second is that you can still increase your SS payments by still working, even after you have applied for SS early. It does not "stay for life".

 

[j-mac]

You should not be able to hide income
The rest of us have to make up for it

You don’t make up for shit…McDonalds doesn’t pay that much…

 

[rightwinger]

You don’t make up for shit…McDonalds doesn’t pay that much…

A McDonalds employee pays taxes on all his income. Why should a small business be able to hide income generated from Paypal or Venmo?

 

[Rigby5]

You should not be able to hide income
The rest of us have to make up for it

If they ended the war on drugs, think of how much more taxes the dealers would be able to pay?

 

[KissMy]

Receiving a Gift is not Earning.

That is why wealthy don't pay tax on money they give their kids every year. Also beggars don't have to claim gifts under $16k per donation. The annual federal gift tax exclusion allows you to give away up to $16,000 each in 2022 to as many people as you wish without those gifts counting against your $12.06 million lifetime exemption.

 

[CarlinAnnArbor]

That's your Democrat Party. Always looking out for the little guy. When will the ignorant Democrat half ever learn

 

[CarlinAnnArbor]

If they ended the war on drugs, think of how much more taxes the dealers would be able to pay?

Yes. We need to encourage drug use. We don't have enough

 

[Rigby5]

A McDonalds employee pays taxes on all his income. Why should a small business be able to hide income generated from Paypal or Venmo?

PayPal or Venmo do not generate income.
They are just transactions, that could be for lots of tax exempt reasons.
And if you make less than $19k, you don't have to declare or pay a cent.
{... Married Taxpayers Filing Jointly If both married taxpayers are under 65, they can earn up to $18,999 and not need to file a return. ...}
The biggest IRS ripoff is that you do not get to include rent as an expense unless you are a commercial business.
Obviously rent and food money is a business expense so that you can survive long enough to be able to work.

 

[Harpy Eagle]

Yes. We need to encourage drug use. We don't have enough

You do know that either a war on drugs or encouraging drug use are not the only two options, right?

In fact some might argue that the war on drugs does encourage its use

 

[Rigby5]

As a matter of fact, panhandling income can be taxable depending on what you make

Why do Republicans always support tax cheats?

I think by now, you realize I think you are an uneducated, spiteful woman who has never had to support herself

There is no way to make the minimum taxable income by panhanding.
And since it is cash, there is no record of it either.

 

[ThunderKiss1965]

You should not be able to hide income
The rest of us have to make up for it

And yet you loons have no issue with the people who pay no income taxes.

 

[pknopp]

Actually, you get the same money, it is just spread out over a longer time period

You need to figure this out for your scenario. If I take mine at 62 I'll fall behind at 78 if I wait until FRA.

The way I look at it though is I'll enjoy it far more in my early 60's than my 80's.

 

[LeftofLeft]

That is why wealthy don't pay tax on money they give their kids every year. Also beggars don't have to claim gifts under $16k per donation. The annual federal gift tax exclusion allows you to give away up to $16,000 each in 2022 to as many people as you wish without those gifts counting against your $12.06 million lifetime exemption.

For now.

 

[AMart]

You mean collecting taxes that are due?

Who ran on I am tax collector?

 

[whitehall]

Thank you Brandon for arming thousands of IRS agents. Change the word "remind" to "threaten" and you get a taste of the fascist administration.

 

[j-mac]

A McDonalds employee pays taxes on all his income. Why should a small business be able to hide income generated from Paypal or Venmo?

I’m neither a small business, nor willing to have this conversation with a manipulative liar like you.

 

[debbiedowner]

Democrats hate poor people.

mmm I had to report under republicans too.

 

[j-mac]

mmm I had to report under republicans too.

Not unless you hit 20k

 

[struth]

With Social Security the only dumb choice you can make is to start drawing early when you don't have to

well…you are an idiot