Bank deposits >$600

[ca$hmoney]

Biden wants to require banks to report deposits greater than 600. Has this been approved or just being discussed? For those starting to receive payouts from offshores, can checks get cashed via banks or should they go through check cashing places?

 

[rolltide]

it went into effect on Jan 1 and will be in effect for the 2022 tax season

the craziest part of this is things like reselling tickets you bought if you don't go to a game. example: you have Tide season tix and instead of going to Indy for title game you bought them at $1100/pair and then sold them to your buddy at face value. If you sold those tix on Dec 31 Ticketmaster (or paypal or venmo, etc) will be sending you a 1099 for $1100 plus any other regular season games you sold, even if you made $0 on it.

It is NOT just $600 for a single transaction it is $600 for the gross amount of transaction with that vendor for the calendar year.

congrats to the totalitarian psychos that voted for this administration...you all must be so proud tracking down those, ahemm, billionaires trying to avoid taxes. fn clowns

 

[Mr_Mark]

congrats to the totalitarian psychos that voted for this administration...

But did he really get over 80 million votes?

 

[SheriffJoe]

it went into effect on Jan 1 and will be in effect for the 2022 tax season

the craziest part of this is things like reselling tickets you bought if you don't go to a game. example: you have Tide season tix and instead of going to Indy for title game you bought them at $1100/pair and then sold them to your buddy at face value. If you sold those tix on Dec 31 Ticketmaster (or paypal or venmo, etc) will be sending you a 1099 for $1100 plus any other regular season games you sold, even if you made $0 on it.

It is NOT just $600 for a single transaction it is $600 for the gross amount of transaction with that vendor for the calendar year.

congrats to the totalitarian psychos that voted for this administration...you all must be so proud tracking down those, ahemm, billionaires trying to avoid taxes. fn clowns

Party of the People! LOL

Wait till the sheep realize they'll soon have govt-controlled kill switches in their cars and trucks.

You can't fix stupid!

 

[C.P.]

WOW

 

[michael777]

But did he really get over 80 million votes?

Yes he did contrary to what many of my fellow Conservatives think. This Country is fucked forever when Communists like Joe and the Ho get elected

 

[Knightrofins]

it went into effect on Jan 1 and will be in effect for the 2022 tax season

the craziest part of this is things like reselling tickets you bought if you don't go to a game. example: you have Tide season tix and instead of going to Indy for title game you bought them at $1100/pair and then sold them to your buddy at face value. If you sold those tix on Dec 31 Ticketmaster (or paypal or venmo, etc) will be sending you a 1099 for $1100 plus any other regular season games you sold, even if you made $0 on it.

It is NOT just $600 for a single transaction it is $600 for the gross amount of transaction with that vendor for the calendar year.

congrats to the totalitarian psychos that voted for this administration...you all must be so proud tracking down those, ahemm, billionaires trying to avoid taxes. fn clowns

The way i see that would be that on your tax return, you would have to show $1,100 of income but would also be able to expense the $1,100 for cost of goods sold

I cant wait to tell the IRS that I am the treasure of a few football pools. That should be fun!!

 

[SheriffJoe]

All you plebs should quit worrying about your piddly $600 bank deposits and just blindly follow Nancy Pelosi's stock portfolio.

They're calling her the "Billy Walters of stocks" as her, Soros and friends miraculously beat the market year after year! Amazing!

Party of the People!

 

[StevieRay]

But did he really get over 80 million votes?

Nowhere close

 

[ca$hmoney]

Enough of the political shit…seriously. I’m sitting on checks that need to be cashed and I refuse to be fucking taxed. A check cashing place won’t cash my cash issued from a Canadian bank. Wtf. Walmart said they have a $2500 limit. I have checks that are greater than that. Now what?!?!

 

[michael777]

When you have people like JATTSCUM who only care about getting "free stuff" this is what happens

 

[SheriffJoe]

When you have people like JATTSCUM who only care about getting "free stuff" this is what happens

Elections have consequences. Stolen elections have catastrophic consequences.

 

[metro]

it went into effect on Jan 1 and will be in effect for the 2022 tax season

the craziest part of this is things like reselling tickets you bought if you don't go to a game. example: you have Tide season tix and instead of going to Indy for title game you bought them at $1100/pair and then sold them to your buddy at face value. If you sold those tix on Dec 31 Ticketmaster (or paypal or venmo, etc) will be sending you a 1099 for $1100 plus any other regular season games you sold, even if you made $0 on it.

It is NOT just $600 for a single transaction it is $600 for the gross amount of transaction with that vendor for the calendar year.

congrats to the totalitarian psychos that voted for this administration...you all must be so proud tracking down those, ahemm, billionaires trying to avoid taxes. fn clowns

its not just bank deposits .. the fine print included mobile apps

 

[metro]

The way i see that would be that on your tax return, you would have to show $1,100 of income but would also be able to expense the $1,100 for cost of goods sold

I cant wait to tell the IRS that I am the treasure of a few football pools. That should be fun!!

who gives a fuck you're part of the problem

 

[metro]

When you have people like JATTSCUM who only care about getting "free stuff" this is what happens

Knights fins is financially well , dosnt need handouts so what's his excuse ?

 

[5teamparlay]

 

[metro]

or I should say , and people like him

 

[metro]

if your just going to surveil our bank accounts and flag activity of 600 plus .. why bother filing taxes at all

 

[metro]

just send us what you have .. and we will counter offer with explanation

 

[metro]

Enough of the political shit…seriously. I’m sitting on checks that need to be cashed and I refuse to be fucking taxed. A check cashing place won’t cash my cash issued from a Canadian bank. Wtf. Walmart said they have a $2500 limit. I have checks that are greater than that. Now what?!?!

all of the folks called " tin foil hats " "trumpers" etc are the ones people will be looking for advice from ..

and we are going to be sitting there like Deniro in COPLAND when Stallone decided to turn into Sherlock Holmes ..

" we gave you a chance you blewwww it " haaha

not directly at you CashMoney , not at all

people like knightFins