The government is spending money at alarming rates and when the President said no one making under $400,000 would be taxed, that was a bald-faced lie. They are coming up with new and creative ways to come after even the smallest transactions. As inflation eats away at what money we have, and we have to pour out support for millions of foreigners coming in unabated, the demonic Biden Regime will continue to squeeze every dollar from the middle class.
Beginning on January 1, 2022, you won’t be allowed to make $600 in a year from any side business, like those knitted hats you make and sell on Etsy. The limit used to be $10,000 and 200 transactions. Not, it’s just $600, period.
The government wants you to report old items you sell at garage sales if you make as little as $600 in a year. If you use platforms like Paypal, Zelle, or any App, you will have to pay taxes, claiming it as income.
This will cause a huge mess and headaches for lots of people. For example:
- if a group of friends innocently go out for dinner and one person pays the tab and the others send him or her reimbursement for their share through one of the payment apps (apparently this is the common way young people do it now when they split a bill);
- or a parent sends their child some money through an app to help them out;
- or a friend is temporarily short of money until their next payday and you send them a small loan
They get reported as receiving income and then you get reported for receiving income when they pay you back even though it was a temporary loan.
If you are out grocery shopping and pick up a few items for your neighbor and they reimburse you through one of those apps since most people don’t keep cash at home, now you will get reported as receiving income when you haven’t, et cetera.
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