In 2022 the U.S. Internal Revenue Service announced that online payment platforms must report all transactions made by individuals that are over $600. The rule would result in online sellers, resellers and gig workers having to report more earnings to the IRS. Under the previous law online platforms had to send reports to the IRS if a vendor earned more than $20,000 and had over 200 transactions. Proponents argue that the rule will force tax cheats to report income. Opponents argue that the rule unfairly targets small businesses and people who sell items on Ebay and AirBnb.
@ISIDEWITH1yr1Y
No
@9H25G5V5mos5MO
I believe that online businesses should have the tax set to where the Buisness is located, If it was based in California then pay the taxes that California has, If we can’t afford that MAYBE we could add like %5~ to the tax
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
Yes
@9H25G5V5mos5MO
I think every purchase made by a Canadian citizen online should be reported to the IRS, this could help find fraudsters and fraudulent acitivity
@ISIDEWITH1yr1Y
@9CGBPXC10mos10MO
We have the CRA. No concern with the IRS.
@9FGQ3S27mos7MO
Yes, but instead with the CRA
@9DQSF448mos8MO
All transactions should be reported
@9CMVS5P10mos10MO
If it’s something personal, I think that’s an invasion of privacy, so they don’t really need to know about those kind of things, I’m the whole scheme of things.
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@98PQTLX1yr1Y
Yes, as this can prevent bankruptcies leading to recession or depression.
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