I can imagine heavily armed gangs of IRS thugs waylaying citizens on the street and holding them for ransom
I like the IRS, they're very nice people
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
I can imagine heavily armed gangs of IRS thugs waylaying citizens on the street and holding them for ransom
You don’t have to report gifts under $10,000If I want to give my adult child $600, they should not have to pay tax on it. I already did that.
Don't act as if you care about who makes up for what. Democrats are for loads of "free" stuff that I am forced to pay for and Democrats are the largest recipients of the freebees.
This is outrageous….taxes on this money have already been paid…if I want to send my daughter $600, that’s my business.
When you pay your daughter is that Earnings?This is outrageous….taxes on this money have already been paid…if I want to send my daughter $600, that’s my business.
There is a message on the pay portals that state if the payment is for 'business' or 'family or friends'I buy stuff for my mother who is in a senior facility - wide range of things like pajamas, toiletries, new sneakers, protein drinks, OTC meds, clothes, restock the fridge with basics, etc., etc. - keep a running total, and every few months we do a third-party transfer to reimburse me. Probably adds up to a couple thousand of dollars a year. How does the IRS know these are reimbursements and not, say, payments for my helping care for her (which of course I don’t charge for)?
I haven’t kept receipts for all this stuff. What a headache that would be!
Republicans hobbled the IRS so they couldn't function or audit the tax avoidance schemes of the wealthy. They were only able to screw up working class forcing us to wait, wait & wait on hold.This is the same IRS that hasn't been able to process my income tax returns since 2017's return.
This is the same IRS that sent several threatening letters demanding payment for not filing a return in 2018, then threatening me again when I proved that they already have it.
This is the same IRS that puts me on hold for hours when I call them, then the representative I speak to can barely speak English.
This is the same IRS that owes me several thousands of dollars that I likely will never see.
The arrogance and incompetence of this IRS is simply astounding.
You don’t have to report gifts under $10,000
However if you are running a business and think you can avoid taxes by using shadow currencies, it is now more difficult
That is not an earning, and thus does not need to be reported.
Receiving a Gift is not Earning.If your daughter earns six hundred or more through these payment options then she must report the income is what they be saying.
You mean collecting taxes that are due?Yes our dear elected reps hid that in the "American Rescue Plan", anyone surprised? Does anyone remember any member of congress running on this?
haha how is his hypo hiding income?You should not be able to hide income
The rest of us have to make up for it
taxes are due on income..total income for the year. That doesn’t change if i spend it sending it to my kid in college via an app. If i give kid cash it’s not taxed, but if i need to use rhe app it is…that makes zero sense. It’s not another way to tax the poor by the xiden irsYou mean collecting taxes that are due?
money you give your kid is not taxedtaxes are due on income..total income for the year. That doesn’t change if i spend it sending it to my kid in college via an app. If i give kid cash it’s not taxed, but if i need to use rhe app it is…that makes zero sense. It’s not another way to tax the poor by the xiden irs
How long did it take yous to finger that out?Receiving a Gift is not Earning.
or course it’s been taxedmoney you give your kid is not taxed
His allowance is safe
or course it’s been taxed
and. now if i send it via paypal my kid has to pay tax on it again.
But what happens? Does the IRS send a letter saying that tax is due, and the kid has to write back that it was a gift and not earnings? And how do you prove it? What a headache for $600!No they don't.
Actually, he doesn’tor course it’s been taxed
and. now if i send it via paypal my kid has to pay tax on it again.
But what happens? Does the IRS send a letter saying that tax is due, and the kid has to write back that it was a gift and not earnings? And how do you prove it? What a headache for $600!