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pete_the_cat ,

I just got a notification from eBay that said they won’t release my money from selling until I provide them with my SSN or tax ID because I’ve sold over $600 this year. It was probably like a total of $602 because I rarely ever sell anything on there except old tech stuff when I really need money.

scottywh ,

I’m honestly pretty upset about having to report “income” on reselling random old used shit out of my closet and garage on ebay all of the sudden.

Taxes have fucking been paid. This shit is not the same as wages and shouldn’t be treated the same.

AncientFutureNow ,

The $600 paypal/venmo/etc reporting thing has been postponed and is not a thing for this coming tax season.

time_fo_that ,

Good, this is going to be so annoying. If I send my roommate $1000 to cover my portion of rent (which I used to do every month at my last place) it’s not fucking “income” for them lol.

Emerald ,

Image Transcription: Twitter Post

Brave New Films, @bravenewfilms

The Pentagon: we don’t know where $2 trillion went.

The IRS: you sent $600 on Venmo. Don’t forget to report it.

samus12345 ,
@samus12345@lemmy.world avatar

Now, my advice for those who die

Taxman!

Declare the pennies on your eyes

Taxman!

Spacehooks ,

It’s all Stargate wars obviously.

Thermal_shocked ,

I’m not reporting that someone sent me their share of the mortgage through an app rather than cash. Get fucked.

ApathyTree ,

That’s a personal transaction and not business so you don’t have to claim it anyway.

quo ,

deleted_by_author

    •
    Thermal_shocked ,

    Exactly.

    Davidjjdj ,

    Does it? It wasn’t an issue for me until I got paid and they accidently selected “payment”. At which point I had no choice, venmo forced me to give my tax information before they would cancel, or return the money that was sent to me.

    They will still be reporting that transaction and there is nothing I can do.

    ApathyTree , (edited )

    If they do, for any transaction including personal, they are breaking tax laws so… I really don’t think that’s the case at all…

    I had the pleasure of teaching people about the 1099-k used to report that from a business standpoint (which anyone needing to report would be using). So while I don’t know a lot, I do know that specific thing about that specific form.

    I’m not a tax professional, but this is literally the first tax season these companies are being subjected to the new rules, so erring on the side of caution makes sense for them, but ultimately if they report that based on personal transactions, they are violating IRS regulations, and no company wants to do that if they can avoid it.

    Prior to that, the 1099-k rules were really wild, something like a minimum number of transactions plus a minimum amount of income through that specific source. It led to a lot of untraceable transactions in lieu of normal transactions and it was hard to follow up with, plus a lot of people who had no clue they needed to file the form. This is literally just their way of shoring up the rules to make it enforceable for them as an underfunded agency.

    jetsetdorito ,

    If you’re paying a mortgage and someone is paying you for one of the rooms, as far as the IRS is concerned that is income 🙁

    douglasg14b ,
    @douglasg14b@lemmy.world avatar

    Yeah you do it’s still income…

    If someone else is paying you for your mortgage anything past the interest is considered income since it’s paying down the principal.

    And you don’t have to worry about reporting it venmo will already do that for you :/

    adrian783 ,

    you don’t have to report anything, thats also why they do random audits.

    Thermal_shocked ,

    Venmo reports it

    ThatFembyWho ,

    Ha you can’t even receive $50 of digital payments (venmo, cashapp, whatever) without passing an invasive KYC check. Fuck big brother.

    gardylou ,

    That ‘we don’t know where 2 trillion went’ is a myth–that number represents accounting reconciliations between their myriad of different archaic and highly secured systems. It doesn’t mean that actual resources are missing or can’t be accounted for.

    maryjayjay ,

    I remember reports of literal pallets of cash going missing during desert storm

    diffcalculus ,

    “missing”

    ImFresh3x ,

    Yeah that money came from Iraqi oil sales. And seems to have likely gone to (mostly) Iraqi contractors and Iraq government. It was literally their money going back to them. The accounting was not well documented. But once again, the money isn’t missing. And it definitely wasn’t money collected by the IRS from taxpayers.

    HerbalGamer ,
    @HerbalGamer@sh.itjust.works avatar

    as if I know exactly where the fuck all my money went all the time

    bobthened ,

    That doesn’t really matter though. The point still stands regardless of if it’s explained by money literally disappearing into a hole or huge rounding errors and inefficiencies in their accounting systems.

    They are still allowed much much more leniency with much larger amounts of money (aren’t they aren’t ever properly held to account for it) than regular people are allowed with comparatively tiny amounts of money.

    Knightfox ,

    A big part of it is reporting requirements, despite what some people think different portions of the government have different requirements. The reason a person gets inquiries about Venmo payments is because the IRS requires corporations to report that information to them and it’s a mainly automated process.

    Regulatory reporting requirements of Corporations to the IRS can’t be copy pasted onto Pentagon spending reconciliation.

    A better comparison, that is still not accurate, would be a cash business that has to report income to the IRS and has trouble getting granular details organized.

    Complaints about transparency and accountability on the Pentagon budget are a valid complaint, but this is a poor example.

    Crashumbc ,

    Cash business is a great example, considering 99% under-report their income by a huge amount…

    uriel238 ,
    @uriel238@lemmy.blahaj.zone avatar

    It’s an infestation of unconnected dots that could hide countless incidents of corruption. Were we to connect them all and compute the sum of adjustments, the discrepancy could be smaller or greater, exponentially.

    The problem is our government favors the DoD like a prodigal son and is not eager to facilitate an audit that might reveal trillions in corruption. It already doesn’t like the published records of trullions in bad investments while leaving our troopers with insufficient armor and a DVA that leaves IED victims to the streets and the elements.

    So until I see otherwise, I’m going to assume that’s trillions going to defense contractor lobbyist junkets and bribes.

    LemmyIsFantastic ,

    The bitching about the DoD is dumb. It’s clearly a necessity with even bigger asshole nations being cunts.

    EasternLettuce ,

    deleted_by_author

    •
    LemmyIsFantastic ,

    Oh right, the US is still out creating vassel states 🙄

    brain_in_a_box ,

    Literally yes.

    LemmyIsFantastic ,

    👌👍

    1847953620 ,

    no, we believe the cia now, for realsies

    zazo ,

    Oh oh, are we on Jeopardy! I’ll take “Brutal Middle Eastern Imperialistic State” for 500, Alex!

    LemmyIsFantastic ,

    Whatever you say.

    zazo ,

    You don’t genuinely believe the US cares about Israel and doesn’t just give out trillions of their defense budget so they have a strong foothold in the middle east to prevent the caliphates from uniting, do you?

    SeducingCamel ,

    How many military bases do we have in how many countries?

    LemmyIsFantastic ,

    Ohh I guess that’s a forced thing in most cases 🙄

    TheMightyCanuck ,
    @TheMightyCanuck@sh.itjust.works avatar

    “Accountability is dumb because China” 😵‍💫

    Chakravanti ,

    And everyone is gonna downvote me for mentioning Monero as the real fucking solution.

    Sharpiemarker ,

    Spooky

    Chakravanti ,

    Told ya.

    southsamurai ,
    @southsamurai@sh.itjust.works avatar

    No, I down voted you because you brought up votes at all. Begging for down votes is just as lame as begging for ups.

    Chakravanti ,

    But I work for the CIA too, man.

    southsamurai ,
    @southsamurai@sh.itjust.works avatar

    Oh, in that case, carry on!

    Chakravanti ,

    I did. Even got a few hundred more lbs of cocaine to sling in America…again.

    gardylou ,

    Yes, because it isnt.

    Chakravanti ,

    Well I’m just not going to counter you with the obvious. Figure it out your gorramn self.

    explodicle ,

    If a value overflow incident happened with Monero, it never would have been detected.

    Chakravanti ,

    Value is contribution. Not explotation. Hiding that level prevents exactly that level and is no longer manipulative. Especially not the proffesional wall street level of exactly that kind of slavery which totally cannot be done in capitolizm.

    explodicle ,

    I’m referring to the value overflow incident in Bitcoin, where a hacker gave himself a bazillion bitcoins and it was only caught because all ledger values are visible.

    Chakravanti ,

    Yeah. So? Invisibility is exactly that. Can’t crack someone who you are unaware of the presence and mass of the collections of who. You can track it all on bitcoin. Sucker crypto right there. Just askin’ for it.

    explodicle ,

    The Lightning Network has onion routing by default. This gives us the best of both worlds - strong privacy and a way to detect inflation bugs. Better L1 privacy is in the works, without sacrificing auditability.

    Chakravanti ,

    I’m stacking these pennies. They’ll be as tall as the 9/11 building before too long and withstand nearly as much an impact.

    explodicle ,

    Ok cool whatever that means. It is nice to know there’s only 21M BTC.

    Chakravanti ,

    Hey! At least in your case the planes went way over your head.

    FlashMobOfOne ,
    @FlashMobOfOne@lemmy.world avatar

    “We don’t know where 2 trillion went” is a headline similar to the ones we’ll be seeing a few years after this debacle in Ukraine.

    Whelks_chance ,

    Weird example, as you’re saying pretty explicitly exactly where the money went, and plenty of people would be fine with it

    Chakravanti , (edited )

    Well Gary Webb would have had a good argument about the CIA’s history of exactly that but he commited suicide by shooting himself in the head. Twice. Two weeks before he was going to court as a journalist with evidence that the CIA was dealing cocaine to America.

    TheDoctorDonna ,

    As someone who has to pay back half of my COVID relief but so many rich people and corporations don’t- I feel this deep in my black soul.

    $7000 on top of my student loans👍

    FlashMobOfOne ,
    @FlashMobOfOne@lemmy.world avatar

    I made a $10,000 payment to close out mine a few years ago. Turns out I was right that Biden wouldn’t do anything meaningful on that front, and I was tired of being gouged on the interest.

    I still support cancellation though. I wish we were spending 200 billion on that instead of another country’s war.

    BossDj ,

    You should take a second to look up who is in the way of that happening, because it sure as hell isn’t Biden.

    1847953620 ,

    well they sure as fuck stopped trying

    FlyingSquid ,
    @FlyingSquid@lemmy.world avatar

    Nonsense.

    ed.gov/…/biden-harris-administration-announces-ne…

    They can’t help everyone, or even the majority, but they’re helping as many people as they can.

    Hildegarde ,

    Federal student loans were not accruing interest when Biden took office. Now they are. They could have helped everyone by not raising the interest rates.

    FlyingSquid ,
    @FlyingSquid@lemmy.world avatar

    They weren’t accruing interest because of COVID. Do you think Biden could have unilaterally kept it at 0% indefinitely?

    doctorcrimson ,

    One of the other replies mentioned a recent 5 Bn USD forgiveness of Student Debts, but actually the total amount the Biden Admin has forgiven is 132 Bn USD through various means. They also still plan to go through with the full forgiveness that was initially blocked by Conservative State Attorneys and the Supreme Court on June 30th, in total it will forgive 430 Bn USD.

    crusa187 ,

    It isn’t Biden, who single-handedly struck a deal as a congressman to ensure students couldn’t declare bankruptcy due to crushing student loan debt? Huh.

    SeducingCamel ,

    That was a long time ago so it isn’t relevant to Biden now /s

    doctorcrimson ,

    I don’t think the above users meant 1976 when they were talking about Biden’s actions on Student Loans. Just a hunch. Also, technically, Student Loans are dischargeable by Bankruptcy starting 5 years into repayment or sooner in the case of undue hardships.

    asteriskeverything ,

    Dude you know they were referring to covid relief and not LOANS. “On what grounds” they said, obviously that’s not referring to paying back a loan and instead on what grounds would you have to pay back RELIEF funds.

    horndogAI ,

    Last line they refer to student loans

    TheDoctorDonna , (edited )

    Because the federal student loan plan is where I got the loan, so now I owe the big G like $15,000 instead of just under $8000.

    I never should have had to pay back relief funds. I don’t dispute my loans, though they should be inteest free.

    STRIKINGdebate2 OP ,
    @STRIKINGdebate2@lemmy.world avatar

    Quick question? How come you gave to pay half of it back? On what grounds?

    TheDoctorDonna ,

    They “reassessed” my account and that’s all the reason they gave.

    InternetCitizen2 ,

    On what grounds? It keeps the rent pigs in line. /s

    But also not /s

    Zipitydew ,

    Sorry to be that person but this doesn’t make sense for a couple legitimate reasons.

    sh.itjust.works/comment/6179467

    For sure BS the DoD isn’t really improving. Yet this is an apples to oranges comparison.

    rockSlayer ,

    It’s not about taxes, not really. It’s the hypocritical and one-sided scrutiny of citizens vs corporations and the military industrial complex.

    Zipitydew ,

    It’s still wrong. Even when not about taxes directly.

    It demonstrates either ignorance about government responsibilities, ignorance about GAP, or combination of both.

    People passing this around should do better to come up with an applicable comparison regarding oversight the IRS has. There are many examples.

    But the IRS isn’t the GAO. Auditing the DoD will never be something the IRS handles.

    rockSlayer , (edited )

    Ok, so where is the missing 2 trillion dollars? You seem to be missing the forest for the trees. It’s about hypocrisy, not the highly specific functioning of an inept governmental office.

    Edit: I’ll spell out the hypocrisy. What happens when you fail an audit? You’re forced to pay back the money. What happens when the Pentagon fails their audits? Literally nothing. The 1990 bill has no penalties for failing, none.

    Zipitydew ,

    Ok, so where is the missing 2 trillion dollars?

    That’s for the GAO to figure out. Not me or the IRS. The IRS is already understaffed and funded as is. And both the IRS and DoD are Executive branch. That’s why the audit authority rests with Congress to provide checks against Executive authority.

    You seem to be missing the forest for the trees. It’s about hypocrisy, not the highly specific functioning of an inept governmental office.

    If it’s only about hypocrisy there are still better examples. The DoD doesn’t generate revenue so there isn’t anything to tax. Meaning the IRS shouldn’t be involved.

    If to call out the DoD make it about how they expect this level of accountability with their own suppliers and staff that they’re failing. If to call out the IRS it could go with numerous options unrelated to the DoD.

    As is it doesn’t make sense.

    rockSlayer ,

    The DoD doesn’t generate revenue so there isn’t anything to tax. Meaning the IRS shouldn’t be involved.

    I don’t know how else to say this. It’s not about specific agencies applying what penalty or anything else like that. It’s the fact that there are no penalties for the DoD for failing an audit.

    Zipitydew ,

    So about my prior comment on ignorance of the government. Congress owns making penalties happen. As stated, this post suggests it’s the IRS not doing their job.

    You’re welcome to come up with an alternative interpretation of what’s plainly stated. But we can do better than misrepresenting the issues this post does a crappy job of bringing up.

    rockSlayer ,

    Ok, I see where you’re coming from. I looked past the error to see the point of what they meant. You’re stating the obvious that the IRS isn’t involved with government agency audits. We’re arguing about 2 different things.

    Zipitydew ,

    It’s not obvious unfortunately. Otherwise I wouldn’t bother.

    People have been repeating versions of this same post across social media for weeks. With common replies asking why the IRS isn’t doing anything about it.

    flambonkscious ,

    I have a follow up question, sorry to re-derail this, I’m also from elsewhere so have no idea about freedom financials and audits:

    Even when the GAO completes their audit, will it really be of any use if every other line item reads “classified”: $stonkbucks?

    gardylou ,

    It isn’t missing, the media just doesn’t know how to report on financial reporting and then memes and internet just bastardize things into lowest common denominator pablum because that’s easier and more entertaining than actually reading about problems with old systems not being able to communicate with each other at the Pentagon and how this leads to trillions of dollars annually of accounting reconciliations and reporting delays where there are intermediate moments where the full picture isn’t immediately available. This is basically an old tech and information security issue, not a "evil fucking pentagon stealing monies again!’ or whatever other bullshit it is perpetually portrayed as.

    pinkdrunkenelephants ,

    You have literally no sources for any of those claims and are just talking out of your ass.

    paultimate14 ,

    On the other side of the meme, why shouldn’t money obtained via a 3rd party platform need to be reported to the IRS? I don’t understand the complaint.

    Is your business suddenly special and tax-exempt just because you sell your custom knick-knacks on Craigslist on or accept venmo for your at-home dog grooming service or whatever?

    TonyTonyChopper ,
    @TonyTonyChopper@mander.xyz avatar

    The joke is that they hold taxpayers to ridiculously high standards, to the point where the concept of $600 of unreported income is something the government will harass you for. While they can just accept billions of their own spending going unaccounted for without a second thought.

    And yes someone running their own small business struggling to survive is not worth taxing. Even if they were paying “what they owe” they would contribute nearly nothing compared to the rich people. And suffer far more for it.

    brbposting ,

    My reading: Uncle Sam’s Ledger Logic:

    $2 trillion vanishes into the Pentagon void? “Oops, slipped through the cracks!”

    Your $600 Venmo transfer? “Caught you red-handed! Now, where’s our cut?”

    gardylou ,

    Thank you, the internets tendency towards pure emotional reaction to things they don’t understand is honestly just exhausting sometimes.

    rubythulhu ,

    We should subtract from the military’s budget anything they can’t explain on an audit.

    Potatos_are_not_friends ,

    “Why do we have to explain a $880,000 missile that bombed a villiage full of brown people? Or a $72,000 drone made out of consumer parts but the company is owned by my cousin?”

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