Suck it Tax Cheats

[thegeneral 2,118]

https://apnews.com/article/irs-audits-wealthy-taxes-biden-treasury-b12a48b200834a7c9a04dc293e3273c2

“The IRS announced Thursday that it has collected $1 billion in back taxes from high-wealth tax cheats”

[Bert 1,125]

Spent $2 billion to collect $1 billion.  Typical government efficiency!  

[joneo 543]

Did Sharpton finally pay his taxes?

[seafoam1 2,358]

1 hour ago, thegeneral said:

https://apnews.com/article/irs-audits-wealthy-taxes-biden-treasury-b12a48b200834a7c9a04dc293e3273c2

“The IRS announced Thursday that it has collected $1 billion in back taxes from high-wealth tax cheats”

Yeah, they are so efficient. They got me locked up for months looking at a return where I've claimed no capital gains, no special anything, I just left my money where it is cause I don't need it. All I put was my salary and tax forms, but when I go check the status of my case they say as of yesterday, "Sorry, due to covid we are understaffed. If you don't hear from us within 120 days, call this number...." 

This is what you are boasting about. I'm due a return and they are hanging onto it for as long as they can. 

Liberals are so stupid. 

[thegeneral 2,118]

5 minutes ago, seafoam1 said:

Yeah, they are so efficient. They got me locked up for months looking at a return where I've claimed no capital gains, no special anything, I just left my money where it is cause I don't need it. All I put was my salary and tax forms, but when I go check the status of my case they say as of yesterday, "Sorry, due to covid we are understaffed. If you don't hear from us within 120 days, call this number...." 

This is what you are boasting about. I'm due a return and they are hanging onto it for as long as they can. 

Liberals are so stupid. 

Cool story bro!

[WhiteWonder 2,410]

16 minutes ago, seafoam1 said:

Yeah, they are so efficient. They got me locked up for months looking at a return where I've claimed no capital gains, no special anything, I just left my money where it is cause I don't need it. All I put was my salary and tax forms, but when I go check the status of my case they say as of yesterday, "Sorry, due to covid we are understaffed. If you don't hear from us within 120 days, call this number...." 

This is what you are boasting about. I'm due a return and they are hanging onto it for as long as they can. 

Liberals are so stupid. 

odd  

Last August I got a bill proposal from the IRS for unreported 1099 income from 2021. Turned out to be a 1099 generated by paypal. Was never sent to me and I had no reason to expect one. Turned out that because my DraftKings account had always been linked to my paypal account (back when they were just DFS it was hard to do a direct transfer from a bank and PP was the easiest workaround)... All the transfers I did back and forth that year triggered a 1099 as PP considered the incoming transfers to be "income from the sale of goods and services" without taking into account the outgoing transfers.  It was a headache. I made a spreadsheet for them showing all the outgoing and incoming and how the net was well under the 20k threshold they used to have for 1099 generation.  They still made me claim the income as a business and then just told me to take the same amount as a deduction to offset it, but I needed to go through all that so they could dot their i's and cross their t's I guess. 

But the agent I worked with was helpful, 90% of communication was done via their messaging platform, and everything was sorted out within 2 weeks.

[easilyscan 622]

4 minutes ago, WhiteWonder said:

odd  

Last August I got a bill proposal from the IRS for unreported 1099 income from 2021. Turned out to be a 1099 generated by paypal. Was never sent to me and I had no reason to expect one. Turned out that because my DraftKings account had always been linked to my paypal account (back when they were just DFS it was hard to do a direct transfer from a bank and PP was the easiest workaround)... All the transfers I did back and forth that year triggered a 1099 as PP considered the incoming transfers to be "income from the sale of goods and services" without taking into account the outgoing transfers.  It was a headache. I made a spreadsheet for them showing all the outgoing and incoming and how the net was well under the 20k threshold they used to have for 1099 generation.  They still made me claim the income as a business and then just told me to take the same amount as a deduction to offset it, but I needed to go through all that so they could dot their i's and cross their t's I guess. 

But the agent I worked with was helpful, 90% of communication was done via their messaging platform, and everything was sorted out within 2 weeks.

You can thank President Biden for that. 

https://waysandmeans.house.gov/2022/02/07/irs-targets-lower-middle-income-earners-with-600-reporting-requirement/

That being said, I'm surprised it affected you because at some point (due to huge pushback) they decided to scrap it until 2025 ?

 

[seafoam1 2,358]

7 minutes ago, WhiteWonder said:

odd  

Last August I got a bill proposal from the IRS for unreported 1099 income from 2021. Turned out to be a 1099 generated by paypal. Was never sent to me and I had no reason to expect one. Turned out that because my DraftKings account had always been linked to my paypal account (back when they were just DFS it was hard to do a direct transfer from a bank and PP was the easiest workaround)... All the transfers I did back and forth that year triggered a 1099 as PP considered the incoming transfers to be "income from the sale of goods and services" without taking into account the outgoing transfers.  It was a headache. I made a spreadsheet for them showing all the outgoing and incoming and how the net was well under the 20k threshold they used to have for 1099 generation.  They still made me claim the income as a business and then just told me to take the same amount as a deduction to offset it, but I needed to go through all that so they could dot their i's and cross their t's I guess. 

But the agent I worked with was helpful, 90% of communication was done via their messaging platform, and everything was sorted out within 2 weeks.

Yeah, I'll capture the actual message when I log back in later. I only made $3,600 last year gambling and no 1099. It's just weird they hired all these tax people and are now claiming it's covid slowing them down. 

[WhiteWonder 2,410]

22 minutes ago, easilyscan said:

You can thank President Biden for that. 

https://waysandmeans.house.gov/2022/02/07/irs-targets-lower-middle-income-earners-with-600-reporting-requirement/

That being said, I'm surprised it affected you because at some point (due to huge pushback) they decided to scrap it until 2025 ?

 

 

as much as I can blame biden for many things, the $600 threshold was not an issue back then. It was something like $20,000 or 200 transactions.   My incoming transfers from DraftKings totaled about $46,000, there were outgoing transfers to DK for like $38,000 that I used to offset and show that no 1099 should have been generated and it was not business income. DK also had no tax form for me for that year. 

a lot of the transfers were simply to take advantage of deposit bonuses.  $500 in, $500 out next day or even same day, etc.

PayPal told me that a number of companies already had agreements in place to have their transactions excluded from counting as business transactions, including FanDuel but in 2021, DK was not one of those companies.  I believe they now are. 

[easilyscan 622]

16 minutes ago, WhiteWonder said:

It was something like $20,000 or 200 transactions.

Those were the exact amounts. I'm not a fan of the IRS, but I suppose those figures had to be lowered, but all the way down to $600 ?

If someone decided to have a garage sale online, or via eBay, they could easily go over that amount. What's next, IRS agents auditing garage sales ?

 

[seafoam1 2,358]

They hired millions and then I get this: 

Due to COVID-19, staffing is extremely limited and may delay the timeframe to review correspondence. If your submission is older than 120 days, please contact the Division of Taxation’s Customer Service Center at....

[thegeneral 2,118]

15 minutes ago, seafoam1 said:

They hired millions and then I get this: 

Due to COVID-19, staffing is extremely limited and may delay the timeframe to review correspondence. If your submission is older than 120 days, please contact the Division of Taxation’s Customer Service Center at....

They have hired millions of IRS agents?

[seafoam1 2,358]

Just now, thegeneral said:

They have hired millions of IRS agents?

Millions of dollars worth. Are you always this stupid? No need to answer that.

[thegeneral 2,118]

11 minutes ago, seafoam1 said:

Millions of dollars worth. Are you always this stupid? No need to answer that.

I can’t help it if you can’t write

[seafoam1 2,358]

24 minutes ago, thegeneral said:

I can’t help it if you can’t write

Keep thinking about it peanut. 

[thegeneral 2,118]

6 minutes ago, seafoam1 said:

Keep thinkong about it peanut. 

Learn to use your words, Peefoam. 

[seafoam1 2,358]

8 minutes ago, thegeneral said:

Learn to use your words, Peefoam. 

Keep trying gendoosh. 

[thegeneral 2,118]

2 minutes ago, seafoam1 said:

Keep trying gendoosh. 

You being a poor writer is your problem, Peefoam. Don’t sulk

[WhiteWonder 2,410]

2 hours ago, easilyscan said:

Those were the exact amounts. I'm not a fan of the IRS, but I suppose those figures had to be lowered, but all the way down to $600 ?

If someone decided to have a garage sale online, or via eBay, they could easily go over that amount. What's next, IRS agents auditing garage sales ?

 

The info is fresh in my mind I was dealing with all this about 10 months ago. 
 

I can’t imagine $600 as the limit. I could sell a set of golf clubs on eBay and have to file taxes as a small business owner / independent contractor. It’s insane. 
 

well, technically you can just list your profit and then zero it out with a deduction and include an explanation that you are not running a business, which is what they had me do with my gambling app transfers 

I wasn’t even pissed at PayPal for generating a 1099. I don’t expect them to be like oh, we see he also sent transactions out so these offset. I was more upset that they didn’t mail me a 1099 because I had no reason to anticipate one. Or at least email me saying it’s ready online. 

[easilyscan 622]

4 hours ago, WhiteWonder said:

The info is fresh in my mind I was dealing with all this about 10 months ago. 
 

I can’t imagine $600 as the limit. I could sell a set of golf clubs on eBay and have to file taxes as a small business owner / independent contractor. It’s insane. 
 

well, technically you can just list your profit and then zero it out with a deduction and include an explanation that you are not running a business, which is what they had me do with my gambling app transfers 

I wasn’t even pissed at PayPal for generating a 1099. I don’t expect them to be like oh, we see he also sent transactions out so these offset. I was more upset that they didn’t mail me a 1099 because I had no reason to anticipate one. Or at least email me saying it’s ready online. 

100% agree that $600 is insane. No way in hell and amount that small should generate a 1099. 

Can't remember if it was mid 2021 or 2022, but my only sale on eBay for the year was 1 Randy Moss rookie card for $800.00

I was under the impression I would get a 1099. I never did. 

There was a thread specifically related to the new rules at a different forum a couple years ago. One guy was all for the new $600 threshold.

I came back at him with this. Let's say you were into a high-end stereos back in the 80s. You decided to have a garage sale, & one of the items for sale was a bang & olufsen stereo you paid $1500 for back then. You were shocked when someone offered you $2500 in cash, which you accepted. Would you include the sale & capital gains when you did your taxes the following April ? 

He said he absolutely would.  

I think he's a liar.

I'm all for people paying taxes, but the threshold never should've been set that low.

Maybe 2K or 3K 

 

[WhiteWonder 2,410]

8 hours ago, easilyscan said:

100% agree that $600 is insane. No way in hell and amount that small should generate a 1099. 

Can't remember if it was mid 2021 or 2022, but my only sale on eBay for the year was 1 Randy Moss rookie card for $800.00

I was under the impression I would get a 1099. I never did. 

There was a thread specifically related to the new rules at a different forum a couple years ago. One guy was all for the new $600 threshold.

I came back at him with this. Let's say you were into a high-end stereos back in the 80s. You decided to have a garage sale, & one of the items for sale was a bang & olufsen stereo you paid $1500 for back then. You were shocked when someone offered you $2500 in cash, which you accepted. Would you include the sale & capital gains when you did your taxes the following April ? 

He said he absolutely would.  

I think he's a liar.

I'm all for people paying taxes, but the threshold never should've been set that low.

Maybe 2K or 3K 

 

So in all of my research that I did when I got my letter from the IRS and was scrambling to try to figure out how to rectify the issue (they wanted to charge me the taxes for the unreported "income" as well as interest and penalties), everything I saw said that the $600 threshold was not in place in 2021, and I believe the idea was that it began in tax year 2023. 

In my case, the amount wasn't really the issue. I didn't sell a damn thing. I was basically transferring my own money from 1 account (my bank) to another account (draftkings) and vice versa. PayPal was the middle man and they don't care about money you send out, only money that comes in. Money that comes in gets classified as either "friends and family" or "business". So the bigger issue is that transfers of your own money coming back to you from DraftKings were being viewed as income. 

I made money gambling that year but that would have been reported under gambling income with documentation from DK, not under small business income. 

So it was a bit of a headache for me but my original point in bringing up the story was that my dealings with the IRS were actually pretty smooth and everything was resolved fairly quickly. 

[easilyscan 622]

I'm glad it worked out and things went smoothly with the IRS.

 

 

 

[seafoam1 2,358]

4 hours ago, WhiteWonder said:

So in all of my research that I did when I got my letter from the IRS and was scrambling to try to figure out how to rectify the issue (they wanted to charge me the taxes for the unreported "income" as well as interest and penalties), everything I saw said that the $600 threshold was not in place in 2021, and I believe the idea was that it began in tax year 2023. 

In my case, the amount wasn't really the issue. I didn't sell a damn thing. I was basically transferring my own money from 1 account (my bank) to another account (draftkings) and vice versa. PayPal was the middle man and they don't care about money you send out, only money that comes in. Money that comes in gets classified as either "friends and family" or "business". So the bigger issue is that transfers of your own money coming back to you from DraftKings were being viewed as income. 

I made money gambling that year but that would have been reported under gambling income with documentation from DK, not under small business income. 

So it was a bit of a headache for me but my original point in bringing up the story was that my dealings with the IRS were actually pretty smooth and everything was resolved fairly quickly. 

Holy crap. Take a breath Nancy. 

 

[MLCKAA 468]

19 hours ago, WhiteWonder said:

The info is fresh in my mind I was dealing with all this about 10 months ago. 
 

I can’t imagine $600 as the limit. I could sell a set of golf clubs on eBay and have to file taxes as a small business owner / independent contractor. It’s insane. 
 

well, technically you can just list your profit and then zero it out with a deduction and include an explanation that you are not running a business, which is what they had me do with my gambling app transfers 

I wasn’t even pissed at PayPal for generating a 1099. I don’t expect them to be like oh, we see he also sent transactions out so these offset. I was more upset that they didn’t mail me a 1099 because I had no reason to anticipate one. Or at least email me saying it’s ready online. 

I’m pretty sure it’s actually $400 now.  My daughter made $1600 delivering for Shipt last year and had to claim it as small business income and ended up owing $57 despite having a total income below $6k.

[TBayXXXVII 2,304]

On 7/11/2024 at 2:38 PM, thegeneral said:

https://apnews.com/article/irs-audits-wealthy-taxes-biden-treasury-b12a48b200834a7c9a04dc293e3273c2

“The IRS announced Thursday that it has collected $1 billion in back taxes from high-wealth tax cheats”

LOL...

Last line of the article.... “It should also be noted that nearly two-thirds of audits initiated in 2023 were on those making less than $200,000,”

Yeah, 'let's go after the 1%".  About $667M was from the lower and middle classes.  Way to go Biden.  But don't worry, people like @thegeneral is ok with that, as long as you pretend to go after the wealthy.

[thegeneral 2,118]

2 minutes ago, TBayXXXVII said:

LOL...

Last line of the article.... “It should also be noted that nearly two-thirds of audits initiated in 2023 were on those making less than $200,000,”

Yeah, 'let's go after the 1%".  About $667M was from the lower and middle classes.  Way to go Biden.  But don't worry, people like @thegeneral is ok with that, as long as you pretend to go after the wealthy.

Pay up deadbeats! 

[TBayXXXVII 2,304]

1 minute ago, thegeneral said:

Pay up deadbeats! 

You think the 1% made up ONLY $333M of unpaid taxes?  You really think that?  You really think the lower and middle class everyday citizen make up two-thirds of all the money owed?

[seafoam1 2,358]

1 minute ago, TBayXXXVII said:

LOL...

Last line of the article.... “It should also be noted that nearly two-thirds of audits initiated in 2023 were on those making less than $200,000,”

Yeah, 'let's go after the 1%".  About $667M was from the lower and middle classes.  Way to go Biden.  But don't worry, people like @thegeneral is ok with that, as long as you pretend to go after the wealthy.

I only made $130k in 2023 and I retired in September. Now I'm locked up for months with these idiots.  Freaking easiest tax return I ever had since I was 20yo. 

[seafoam1 2,358]

generalpimpledoosh is a focking dumbass. 

[TBayXXXVII 2,304]

Just now, seafoam1 said:

generalpimpledoosh is a focking dumbass. 

He's definitely not the smartest.

[thegeneral 2,118]

1 minute ago, TBayXXXVII said:

You think the 1% made up ONLY $333M of unpaid taxes?  You really think that?  You really think the lower and middle class everyday citizen make up two-thirds of all the money owed?

I think everyone should be paying what they owe. Rich , poor too.

[thegeneral 2,118]

Just now, TBayXXXVII said:

1 minute ago, seafoam1 said:

generalpimpledoosh is a focking dumbass. 

He's definitely not the smartest.

Look you two found each other!

[seafoam1 2,358]

1 minute ago, thegeneral said:

Look you two found each other!

And you're still searching....

[TBayXXXVII 2,304]

3 minutes ago, thegeneral said:

I think everyone should be paying what they owe. Rich , poor too.

Remember when this plan went into effect, the Biden administration said they were targeting the 1% (notice how the article headline is about the "high-wealth taxpayer"),  and Conservatives said that the Biden administration weren't going to target the 1% like they pretend, that they were going to target the middle and lower class?

After reading this article, who lied and who told the truth?

If Jack & Jill Smith owe $500, I don't care anywhere as much as I do Bill Gates owing $1M (for example).  That $500 is likely a hellofa lot more to Jack & Jill Smith than the $1M from someone like Bill Gates.  Hmmm... like Obama's IRS, I wonder how many of those Jack & Jill Smith's $500 debtors are Republicans? 

[thegeneral 2,118]

2 minutes ago, TBayXXXVII said:

Remember when this plan went into effect, the Biden administration said they were targeting the 1% (notice how the article headline is about the "high-wealth taxpayer"),  and Conservatives said that the Biden administration weren't going to target the 1% like they pretend, that they were going to target the middle and lower class?

After reading this article, who lied and who told the truth?

If Jack & Jill Smith owe $500, I don't care anywhere as much as I do Bill Gates owing $1M (for example).  That $500 is likely a hellofa lot more to Jack & Jill Smith than the $1M from someone like Bill Gates.  Hmmm... like Obama's IRS, I wonder how many of those Jack & Jill Smith's $500 debtors are Republicans? 

Pay up deadbeats.

Do you think 1/3 of the country is making 200k?

[TBayXXXVII 2,304]

1 minute ago, thegeneral said:

Pay up deadbeats.

Do you think 1/3 of the country is making 200k?

At least or less than $200k?

According to Statisti.com, approximately 88% of the country make LESS than $200k... that's where the Biden administration got two-thirds of that $1B from.  I'm going to go out on a limb and say that the top 12% owe a lot more than that bottom 88%.

[thegeneral 2,118]

1 minute ago, TBayXXXVII said:

At least or less than $200k?

According to Statisti.com, approximately 88% of the country make LESS than $200k... that's where the Biden administration got two-thirds of that $1B from.  I'm going to go out on a limb and say that the top 12% owe a lot more than that bottom 88%.

Where are you getting that this is where they got 2/3 of the dead beat money?

[TBayXXXVII 2,304]

5 minutes ago, thegeneral said:

Where are you getting that this is where they got 2/3 of the dead beat money?

I quoted it... it's the last line of the article in your OP.

[seafoam1 2,358]

8 minutes ago, thegeneral said:

Where are you getting that this is where they got 2/3 of the dead beat money?

 

2 minutes ago, TBayXXXVII said:

I quoted it... it's the last line of the article in your OP.

Ohhh...ouch...

[thegeneral 2,118]

1 minute ago, TBayXXXVII said:

I quoted it... it's the last line of the article in your OP.

Do you think everyone audited would pay exactly the same

Furthermore if people are making over 200k is 12% of the population but make up 33% of those being audited they do seem to be catching more “rich”.

Personally DFAF pay up whoever you are.