They will never have enough or cut spending, and will always expect you to pay more. You need to cut back, not them. **** them.

Not just zelle. Lots of small businesses, sideline gigs, etc use apps like square, venmo, cashapp.

I use square mostly to make it easier for my clients to "put it on the card" aka spend more. Cash or check only would hurt my revenue stream. Though I have seen an increasing number of clients paying with cash. Maybe they know something.

I hate taxes. I pay my taxes. I pay way more in taxes than I will ever get back. Again, I hate taxes and hate supporting the waste--including the deadbeats.

However, what a lot of people are advocating above is tax evasion. Just because you get paid in cash or just because the Feds did not capture Venmo transactions or whatever before does not the change the fact that it was still tax evasion if you did not report it. If you or your business received income, it was taxable before this law or after.

I hate taxes. I do not like any law that increases taxes or the power of the IRS. I like laws that cut taxes, spending, waste and welfare. But I also hate tax cheats.

I bought things over the years with after tax money. Now in retirement I find that those things are no longer needed so I sell them. If that sale was done thru eBay or you got paid via PayPal or other pay services, if at the end of the year those things add up to $600 or more you will get a 1099 for whatever the yearly total is. The IRS considers amounts on 1099 as income.

Why is that me, a retired person with no business, selling things I’ve acquired over the years with after tax money now required to pay tax on this so called income? Selling personal items should not be considered income, never was before.

I attribute this to the same mentality that the president says, ban all semi automatic guns, which will/can include shotguns and Ruger 10/22’s or banning guns with magazines over 10 rounds, which would include my Winchester pump model 61 tube fed 22 cal. Just plain crazy and illogical!

There are more ways to waste taxpayer funds than there are current taxes being paid. Prime example, the Department of Education.
So be quiet and pay up like a good citizen!

If I pay taxes for the government to give to other people, doesn't that mean I am an enabler? My religion forbids me to turn perfectly capable people into parasites. You just keep enabling! At least you have your hate to comfort you.

They should get rid of all taxes and make everything user pay.
Vote with your wallet.
Get back to the good old feudal system.

"Taxes When You Sell Things Online
Find out what your tax reporting obligations are if you sell something online.
By Stephen Fishman, J.D.
The income tax laws work exactly the same way when you sell something online--whether in an online auction or otherwise--as when you sell an item in the physical world. If you sell at a gain--that is, you get more than you paid for the item--you have income. If you sell an item for less than you paid for it, you have a loss. How this income and loss is treated depends on what type of online seller you are."

You should get money back Dirt,unless you pay yourself too little to procure your raw materials.
Are you not tax exemt as a subsitence person?
Here if you are strictly living off the land with no other income you can apply to be tax exempt.
They used to pass out the forms at our trappers council meetings for those trappers who lived year round in the bush on their traplines and who lived off the land

Great if you have the sales reciept from feb. 3, 1979 otherwise every penny is income Of course in a cashless society records would exist for eternity

Cashless life is coming.

How soon do you see that being ushered in Marty?
No doubt they want the control.

IF you get audited you may have to supply receipts.

"Ideally you would have receipts or records to document the cost basis of the items, for the cost-of-goods-sold:
However, if the items were inherited then you need to use the fair market value on the date they were inherited.
If you don't have receipts (as for items that were bartered or exchanged, or if receipts are not available) then you can use the fair market value when they were acquired.
The fair market value needs to be determined consistently, and according to accounting principles.
For more information, see IRS Publication 551, Basis of Assets."

Im pretty sure its been 600 for a long time. Why is everybody getting worked up?

If you sell something and get a 1099, you still have a cost basis. If you sell it for less than you paid new, and never claimed depreciation, why would you owe any tax?

You won't, but many never keep good records on tangible purchases. The other aspect of this is it may move a lot of tax payers into filing a schedule C which would minimize a lot of tax. Also when selling on line or otherwise there are lines for items that are bought for resale and thus the original purchase cost can be subtracted from any gain and or added to any loss. may force many to be better record keepers or create a lot more concerns for those who choose not to report.

Bryce

It has been here for some things already but they need to make the dollar digital first or maybe a new digital currency...I am sure they have it planned out.

Cash isnt going anywhere. Too much money being made in the "illegal" narcotics trade.

Yep Marty, Sporting Venues, Disneyland, etc....Already refusing cash payments - All bad, IMO.

Hope your right Danny, we need the cash option.

If I go to a place an they don’t take cash, I don’t do business with them.