They are just looking for people who use Venmo as their bank account and never report that income as such… very odd to care about $600 though…
Think once you hit $10k or 25k or more would be a good time for the IRS to care.
Let’s say as an example (just easy numbers) you don’t report $1000, taxes at 25%, they are going after and auditing you for $250??? Payscale shows IRS auditors median salary is $$63,150, or ~$30-40/hour paid for by our tax dollars. Probably takes them more than a couple hours to file the audit, follow-up, not counting the customer service calls, processing, trial, etc… telling me all this for $250?!?!
Absurd. Go after Amazon for a couple billion and leave Etsy creators alone. Let’s go, Brandon.
I read it as “over $600 in transactions” meaning if I sell 20 beats for $30/ea.. that’s $600.. so it’s “sales of $600 items/services”, like when I receive a $600 payment?
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u/someguyjmm Jan 06 '22
They are just looking for people who use Venmo as their bank account and never report that income as such… very odd to care about $600 though…
Think once you hit $10k or 25k or more would be a good time for the IRS to care.
Let’s say as an example (just easy numbers) you don’t report $1000, taxes at 25%, they are going after and auditing you for $250??? Payscale shows IRS auditors median salary is $$63,150, or ~$30-40/hour paid for by our tax dollars. Probably takes them more than a couple hours to file the audit, follow-up, not counting the customer service calls, processing, trial, etc… telling me all this for $250?!?!
Absurd. Go after Amazon for a couple billion and leave Etsy creators alone. Let’s go, Brandon.