every person will get the 1099-k that has an ebay / paypal / venmo type account personal AND business. If you total $600 in a calendar year you will get one. TOTAL $600 not for $600 transactions and higher. you can have 600 $1.00 transactions and you will get one. Even if you sold your Dining room Table or had a roommate send you some money towards his 1/2 of the rent. It is insane and not well thought out. I agree with "jer" on the normal audits of today but this is before the 80 billion (yes a B) that they are pumping into the IRS to help fund 87,000 new IRS agents and build enforcement for whatthey call the "Gig" economy. This all changes with this funding that was buried in the so called "Inflation Reduction Act" Part of that bill was to create more revenue from "Taxes" to help fund all the NEW projects and Climate programs and Electric car charging stations etc etc etc. Start Paying attention everyone It is all changing.
Thus should hardly be considered a political post as if affects EVERYBODY so i am hoping it stays on the forms to help educate and stimulate conversation. This is the way it USED to be. Thanks.
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