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IRS hits brakes on Tax law that would have hurt average Americans
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(11-23-2023, 12:46 PM)The Real Marty Wrote: I don't see how this new rule would "hurt average Americans," except the ones who don't want to pay their taxes. I wonder how many average Americans regularly sell more than $600 on online platforms? My sense is that it’s a small percentage but I could be wrong. I’ve seen a figure of 7.5 million but I’m sure that includes online businesses who are already filing business taxes. The impact of the reporting law probably impacts individuals who sell at a low quantity like they would in a garage sale. Many of those probably report their extra income as required. So the revenue recovered may not actually be worth the effort of implementing the law.
I'm condescending. That means I talk down to you.
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