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@ISIDEWITHQuestionseconomy2yrs ago

Should online payment platforms be forced to report all transactions over $600 to the IRS?

In 2022 the U.S. Internal Revenue Service announced that online payment platforms must report all transactions made by individuals that are over $600. The rule would result in online sellers, resellers and gig workers having to report more earnings to the IRS. Under the previous law online platforms had to send reports to the IRS if a vendor earned more than $20,000 and had over 200 transactions. Proponents argue that the rule will force tax cheats to report income. Opponents argue that the rule unfairly targets small businesses and people who sell items on Ebay and AirBnb.

173 Replies

 @ISIDEWITHDiscuss this answer...2yrs2Y

No

 @ISIDEWITHDiscuss this answer...2yrs2Y

No, private transactions should be kept private

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes

 @ISIDEWITHDiscuss this answer...2yrs2Y

No, unless the transaction is considered income

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes, but the threshold should be much higher

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes, except for low income citizens

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 @ISIDEWITH submitted…2mos2MO

Defense Bill Blocks Transgender Care To Minors

The Senate on Wednesday gave final approval to a defense policy bill directing $895 billion toward the Pentagon and other military activities, moving over the objections of some Democrats who opposed a provision added late in the negotiations that would deny coverage for transgender health procedures for minors.The 85-to-14 vote, coming a week after a divided House passed the same measure, cleared the bill for President Biden’s signature.Most Republicans and many Democrats supported the measure, which provides a 14.5 percent pay raise to junior enlisted service members and a 4.5 percent pay raise for all other service members. It also expands access to meal assistance, housing and child care programs that benefit those in uniform.But several Democrats withheld their backing in protest of a provision preventing TRICARE, the military’s health care plan for service members, from covering “medical interventions for the treatment of gender dysphoria that could result in sterilization” for children under 18.The language, which would affect the gender-transitioning children of service members, was recently added to the measure at the insistence of Speaker Mike Johnson, Republican of Louisiana, who refused to bring a defense bill to the House floor without it, according to aides familiar with the negotiations.Twenty-one Democrats, led by Senator Tammy Baldwin of Wisconsin, proposed an amendment to strip the provision from the bill, but the matter was never brought to a vote. Several of them took to the floor on Tuesday to lodge their objections.“It’s flat-out wrong to put this provision in this bill and take away a service member’s freedom to make that decision for their families,” Ms. Baldwin said, estimating that the provision could negatively affect as many as 6,000 to 7,000 military families.

▲  2017 replies4 agree1 disagree