- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Democrats to scale back Treasury’s IRS bank reporting plan amid GOP uproar
Posted on 10/19/21 at 7:29 am to Oates Mustache
Posted on 10/19/21 at 7:29 am to Oates Mustache
The only thing the 10k limit does is make it feasible to have one primary acct for your income you report and a couple secondary accounts if you have side income and keep it under 10k
0
Posted on 10/19/21 at 7:30 am to NashvilleTider
GOP probably won’t, but should tell them to pound sand
Posted on 10/19/21 at 7:32 am to NashvilleTider
Even Social Security will be under the microscope. frick dem!
Posted on 10/19/21 at 7:32 am to NashvilleTider
It ain’t none of their fricking business.
Posted on 10/19/21 at 7:33 am to NashvilleTider
quote:
the new proposal will instead require the provision of additional information for accounts with more than $10,000 in annual deposits or withdrawals
A distinction without a difference
Posted on 10/19/21 at 7:34 am to NashvilleTider
quote:
$10,000 in annual deposits or withdrawals
That is so much better, so essentially everyone with a bank account still gets reported.
Posted on 10/19/21 at 7:46 am to Oates Mustache
quote:
Way to go GOP. You really stuck it to those Dems.
To be fair this is the Dems counter proposal not a GOP proposal. GOP hasn’t agreed to it
Posted on 10/19/21 at 7:48 am to CleverUserName
quote:
still everyone who receives so much as a part time paycheck
I made 10k working on a farm in summer and holiday breaks in college making 9.25 an hour working long days. It funded my living expenses each year
Posted on 10/19/21 at 7:49 am to DMAN1968
quote:
Almost anyone with direct deposit will trigger this.
*Edited to say...after a little more thought...almost everyone, everywhere will trigger this.
Well, almost anyone WHO ISN'T A F*CKING CRIMINAL HIDING HIS MONEY.
Think about the irony of that.
Posted on 10/19/21 at 7:50 am to Rebel
quote:
That is basically my 13 year olds allowance.
Damn
I didn’t get any kind of allowance like that growing up
Posted on 10/19/21 at 8:43 am to SlowFlowPro
quote:Here's another distinction:
A distinction without a difference
quote:WAPOSo it appears they want to know about your side hustle going unreported, or contractors paying cash to undocumented workers, not normal wage income.
The revised version of the bank reporting proposal will also weaken its scope by exempting all wage income from counting toward the $10,000 threshold
Posted on 10/19/21 at 8:45 am to HubbaBubba
And I repeat. NO.
There are legal means for them to use to data mine for this shite right now without requiring intrusive bank information be provided.
If the IRS is too goddamn lazy to do the leg work on their own investigations, then they obviously don’t need the money they would get from this.
There are legal means for them to use to data mine for this shite right now without requiring intrusive bank information be provided.
If the IRS is too goddamn lazy to do the leg work on their own investigations, then they obviously don’t need the money they would get from this.
Posted on 10/19/21 at 8:47 am to NashvilleTider
quote:
crack down on wealthy tax cheats
quote:
more than $600 in annual deposits or withdrawals.
quote:
accounts with more than $10,000 in annual deposits or withdrawals
Does not compute.
These people think we are really this stupid.
Posted on 10/19/21 at 8:48 am to LSUisKING
They did a massive overreach thinking they could triangulate back to what they actually wanted.
Much like Michael Corleone, I tell them they don’t even get what they normally get, which I ask that they pay out of their own pocket.
Much like Michael Corleone, I tell them they don’t even get what they normally get, which I ask that they pay out of their own pocket.
Posted on 10/19/21 at 8:49 am to NashvilleTider
I don’t understand why everyone isn’t outraged by this proposal. It will impact the average citizen far more than the rich with their financial advisors and lawyers.
Here are some examples for those who don’t see what would happen if this proposal passes with the amounts suggested.
My mother is elderly and cannot drive. I frequently do her shopping for her, both online and at physical stores.
Then she reimburses me by writing a check which I deposit. Over the course of a year, this totals far more than the original proposed $600 limit- remember, the amount is for TOTAL deposits or withdrawals per year.
My living expenses, as for most people, exceed the new $10,000 proposed limit. So my withdrawals will always total more than $10,000 a year.
My wife and I have separate accounts. The mortgage and utilities are paid out of my account. So she transfers money to my account so that I can pay these bills.
This definitely totals more than $600 or even $10,000 annually. We would both be reported as a result.
I pay my taxes. I do not cheat or game the system. This proposal is wrong.
Anyone buying a new appliance and also paying rent will get caught up. Or a car with gas bills.
Here are some examples for those who don’t see what would happen if this proposal passes with the amounts suggested.
My mother is elderly and cannot drive. I frequently do her shopping for her, both online and at physical stores.
Then she reimburses me by writing a check which I deposit. Over the course of a year, this totals far more than the original proposed $600 limit- remember, the amount is for TOTAL deposits or withdrawals per year.
My living expenses, as for most people, exceed the new $10,000 proposed limit. So my withdrawals will always total more than $10,000 a year.
My wife and I have separate accounts. The mortgage and utilities are paid out of my account. So she transfers money to my account so that I can pay these bills.
This definitely totals more than $600 or even $10,000 annually. We would both be reported as a result.
I pay my taxes. I do not cheat or game the system. This proposal is wrong.
Anyone buying a new appliance and also paying rent will get caught up. Or a car with gas bills.
This post was edited on 10/19/21 at 8:50 am
Posted on 10/19/21 at 8:52 am to NashvilleTider
If it comes to where it looks like this will actually pass, you’ll see a run on the banks (which may be one of the things they want) with people pulling out as much cash as they can. Mattress sales about to go thru the roof.
Posted on 10/19/21 at 8:55 am to NashvilleTider
This doesn't look like a scale back. In fact, it may well pull in more people than the original plan!
Posted on 10/19/21 at 8:55 am to Eurocat
quote:
I don’t understand why everyone isn’t outraged by this proposal. It will impact the average citizen far more than the rich with their financial advisors and lawyers. Here are some examples for those who don’t see what would happen if this proposal passes with the amounts suggested. My mother is elderly and cannot drive. I frequently do her shopping for her, both online and at physical stores. Then she reimburses me by writing a check which I deposit. Over the course of a year, this totals far more than the original proposed $600 limit- remember, the amount is for TOTAL deposits or withdrawals per year. My living expenses, as for most people, exceed the new $10,000 proposed limit. So my withdrawals will always total more than $10,000 a year. My wife and I have separate accounts. The mortgage and utilities are paid out of my account. So she transfers money to my account so that I can pay these bills. This definitely totals more than $600 or even $10,000 annually. We would both be reported as a result. I pay my taxes. I do not cheat or game the system. This proposal is wrong. Anyone buying a new appliance and also paying rent will get caught up. Or a car with gas bills.
frick off with this screed.
This is the end result of the socialist crap you’ve shilled for for years, you were just too dumb to know it. Nobody wants to hear you bitch now.
Posted on 10/19/21 at 9:17 am to HubbaBubba
quote:
So it appears they want to know about your side hustle going unreported
So they say, however, who passes their side hustle transactions thru their bank accounts in the first place? No, they just want to know all your business, if they see something they don’t like, they will investigate you.
Posted on 10/19/21 at 9:19 am to NashvilleTider
That's still not even minimum wage, OR those downtrodden non-white folks they believe work 9 jobs a la "Hey Mon!" on In Living Color.
... you know, since white folks only work one job.
... you know, since white folks only work one job.
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News