mainly gig economy issues, paypal,ebay,venmo etc
https://www.irs.gov/businesses/understanding-your-form-1099-k
Discussion
Yes, they want to go after the side hustles but can’t figure out the best way and election year no no
Honestly the 1099k isn’t worth the paper it’s printed on. It shows cc transactions and there’s no way to cross check it unless your total
revenue is less than the cc payments, and I don’t think they are checking that.
How many people are going to be unable to rectify their lightning transactions anyways and be forced to say they didn’t sell bitcoin on their taxes?
Honestly I don’t fucking get it.
How in the world would we be able to track all this anyways?!
I know it’s a tangent, but in the same vein I’m honestly so confused with the IRS rn