• The AGN App is ready! Search "Airgun Nation" in your App store. To compliment this new tech we've assigned the "Threads" Feed & "Dark" Mode. To revert back click HERE.

IRS Changed Reporting Requirements Delayed 1 year

Jump to latest Follow Reply
Once they get that 87,000 armed with use of deadly force ( requirment on application) people all manned up to monitor everything that will change.. you know you got to have time to train them . Like kicking doors in how to correctly put boot to throat , how tight a zip tie handcuff should be , ect..

Last 2 bullet points

irsduitys.png

The tax man a'commith
 
Upvote 0
They had to, otherwise it would have been an absolute mess! I'm 100% for increased enforcement to catch those bypassing their income tax obligations, but setting the bar so low at $600 wasn't going to do that. All that was going to do is make it an absolute nightmare for someone to figure out their tax liabilities if they sold an old lawn mower and accepted an electronic payment for it.
 
  • Like
Reactions: drpietrzak
Upvote 0
The deal is so to go after corporations and the rich and wealthy .

Ya, no its go after the common guy who cant afford big name accountants and tax lawyers.. anyone can read between the lines on that.

Do you think them rich millionaire politicians are going to vote in a bill or law that affects them or there family's money or lifestyle? Dont kid yourself... All that go after them os nothing but a big puff of smoke blowen up your buttt. One thing is for sure and remember,. U v0ted 4 it.. dont say no seeing all them back reelected . G0d bless america.. oops wrong pronoun used.. sorry
 
  • Like
Reactions: Elbowgrease
Upvote 0
bigmike said:
This is great news! I was not aware that it was retroactive to 1/1/22 and I was going to be screwed at tax time.
Click to expand...
Well it wasnt really retroactive since the changes were made 3-11-21 as part of The American Rescue Plan Act of 2021 (ARPA), and set to go into affect 1-1-22. The issue is not many people are familiar with basic tax laws and the new changes were sold to the public as a "get the rich man tax." Not many people even realized what had already happened. And the 2022-2023 tax season was going to be a big wake up call to millions of Americans with a surprise 1099k income tax form. Still going to confuse a lot of people when the IRS decides to enforce it. So to make my point, I dont personally consider this great news.
 
Upvote 0
FWIW
I firmly believe that the increase in the agent count is to go after the big dollar tax avoiders.
Most of us are no more than chump change to the IRS and would not net them the cost of doing an audit.
Sorry if am stepping on your romantic fantasy of having to defend your home against an assault by federal agents
Just my two scents
Ed
 
  • Like
Reactions: timmah, ChRiSiS and landshark
Upvote 0
SilentSquirrel said:
FWIW
I firmly believe that the increase in the agent count is to go after the big dollar tax avoiders.
Most of us are no more than chump change to the IRS and would not net them the cost of doing an audit.
Sorry if am stepping on your romantic fantasy of having to defend your home against an assault by federal agents
Just my two scents
Ed
Click to expand...
The current admin stated they wanted to achieve an additional couple million audits each year with the 87k new employees. That is a 300-400% increase in audits each year. The low end of middle class, and the poor get most of the audits as it is. Door kicking, not worried, but lets be real. The audits are for the middle class, not Elon.
 
Upvote 0
SilentSquirrel said:
FWIW
I firmly believe that the increase in the agent count is to go after the big dollar tax avoiders.
Most of us are no more than chump change to the IRS and would not net them the cost of doing an audit.
Sorry if am stepping on your romantic fantasy of having to defend your home against an assault by federal agents
Just my two scents
Ed
Click to expand...
No one is going to go head to head with an armed phalanx of IRS agents, and I really don't see that anyone would have to worry about the possibility of agents carrying guns on a day to day basis, but don't kid yourself, those extra 87,000 IRS agents are coming after us.

The "big dollar tax avoiders" will do what they always do, hire high powered attorneys to hide assets, and avoid paying taxes altogether.
 
Upvote 0
That's Good news about delaying the third-party payment 1099K reporting although it really did not affect anyone on AGN unless their airgun sale was over $600 and they made a net profit on selling that airgun.

BTW, Those 87,000 new IRS agents are designated to replace the 55,000 IRS agents slated to retire from the agency over the 10 years. Historically, only around 10% of IRS employees work in any tax audit capacity so no, this is not going to be an 85,000 gun-toting audit army. :) Due to the percentage declines in Higher earning auditing, agents conducting audits will be focused on auditing for non-compliant corporations and higher-income earning individuals.

IRS Tax Audits.png


 
  • Like
Reactions: timmah
Upvote 0
PGinsandiego said:
That's Good news about delaying the third-party payment 1099K reporting although it really did not affect anyone on AGN unless their airgun sale was over $600 and they made a net profit on selling that airgun.

BTW, Those 87,000 new IRS agents are designated to replace the 55,000 IRS agents slated to retire from the agency over the 10 years. Historically, only around 10% of IRS employees work in any tax audit capacity so no, this is not going to be an 85,000 gun-toting audit army. :) Due to the percentage declines in Higher earning auditing, agents conducting audits will be focused on auditing for non-compliant corporations and higher-income earning individuals.

View attachment 317262

Click to expand...
There you go again. Interfering with the “Armed Federal Agent Intruder” fantasy...😂
 
Upvote 0
You must log in or register to reply here.
Top Bottom
Back
Home
Forums
Resources
Menu