New papal tax requirements have become law

What does the Pope have to do with this??

Sorry, couldn't resist.

next, the rubber glove will be coming out ....

What I heard was that the new “infrastructure” bill included a bunch of new regulations. One includes a 1099 being generated by PayPal if you do more than $400 of goods and service sales ...

Time to stop using PayPal I guess.

What I heard was that the new “infrastructure” bill included a bunch of new regulations. One includes a 1099 being generated by PayPal if you do more than $400 of goods and service sales ...

Click to expand...

Well that bill hasn’t passed or even formally taken up by Congress yet, so this PayPal nonsense is related to some other thing.

" Time to stop using PayPal I guess. " Many stopped using them when the banned Marty at Sliver Streak Sports.

John

Previously, to be reported to the IRS, you needed to have $20,000 in received transactions and more than 200 transactions.

it now sounds like every transaction is going to be reported.

That means the safest way to buy expensive stuff, has just been removed.

i can’t find anything on the web about this

mike

Click to expand...

Sounds like the makings of a good rumor. 

Bitcoin?

the president doesn't have the authority to change the tax code so no, there hasn't been any changes in reporting

probably shouldn't take advice from that certified accountant, he doesn't appear to know what he's talking about. The president can't just whip out a pen and change the tax code.

PayPal doesn't envoke taxes. They only collect them on behalf of the authorities, State, Federal, or local, that mandate the laws. Your header seems to suggest that PayPal has been collecting taxes before being required to by law and a law has been passed to make it legal. That is absurd.

They want to do the same with bitcoin in Denmark, i can only assume in a effort to remain the most tax ridden country in the world.

And here they can regurgitate another tax law as they please, only their own decency and ( still ) need for voters block them from doing so.

A Dane pay +50% in tax, not all income tax of course but if you spend the rest of your money, then it will be +50%



"They" do not impress me.