(Topic ID: 307200)

Will Pinside have to report sales to the IRS with new 2022 tax laws?

By daly124

2 years ago


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  • 207 posts
  • 82 Pinsiders participating
  • Latest reply 2 years ago by bigguybbr
  • Topic is favorited by 12 Pinsiders

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    There are 207 posts in this topic. You are on page 5 of 5.
    #201 2 years ago
    Quoted from metallik:

    The problem isn't so much the IRS, but instead the tax laws the IRS has to enforce. If y'all would vote for candidates who were smart and serious about tax reform, instead of turning every election into a referendum on guns, immigration and abortion, we might actually get reasonable, non-complicated tax law.

    And some of the issue with tax law is lobbying in Washington by firms like Intuit and H&R Block to keep the tax law complicated.

    https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

    "But the success of TurboTax rests on a shaky foundation, one that could collapse overnight if the U.S. government did what most wealthy countries did long ago and made tax filing simple and free for most citizens.

    For more than 20 years, Intuit has waged a sophisticated, sometimes covert war to prevent the government from doing just that, according to internal company and IRS documents and interviews with insiders. The company unleashed a battalion of lobbyists and hired top officials from the agency that regulates it. From the beginning, Intuit recognized that its success depended on two parallel missions: stoking innovation in Silicon Valley while stifling it in Washington. Indeed, employees ruefully joke that the company’s motto should actually be “compromise without integrity.”"

    #202 2 years ago
    Quoted from bigguybbr:

    https://www.politico.com/news/2021/05/20/irs-funding-boost-489830
    Unless you are one of those three groups, it’s nothing to be excited about.

    You are a fool if you think the IRS won't go after the little guy, hard, with all of that new funding if it happens. Why? Because the little guy can't defend themselves, they can't hire an army of attorneys... I may not agree with Manchin on much, but killing the BBB was absolutely the right thing to do in every way. I sincerely hope he keeps it dead in it's coffin...

    Jeff

    #203 2 years ago
    Quoted from bigguybbr:

    And some of the issue with tax law is lobbying in Washington by firms like Intuit and H&R Block to keep the tax law complicated.
    https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

    If you believe that is the reason for the complexity of our tax laws, that's your decision I guess.

    The Tax law is complicated because Taxes in the US have three purposes (today); collect $ for services and defense, redistribute wealth, and direct societal behavior.

    #204 2 years ago

    No, the law is complicated because ever since the beginning, everyone has been trying to twiddle things to make themselves pay less and others pay more.

    -3
    #205 2 years ago
    Quoted from jeffro01:

    You are a fool if you think the IRS won't go after the little guy, hard, with all of that new funding if it happens. Why? Because the little guy can't defend themselves, they can't hire an army of attorneys... I may not agree with Manchin on much, but killing the BBB was absolutely the right thing to do in every way. I sincerely hope he keeps it dead in it's coffin...
    Jeff

    The IRS has been saying for the last decade that it can't go after large corporations and wealthy tax evaders because it doesn't have the resources and man power to do so. So if and when they get the resources, they will go after the little guy in larger numbers to not be able to recover enough to cover their expenses? For what reason? Or do you believe they should never devote resources to go after wealthy tax evaders?
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