posted by justincredibleLooks like we’re at 56.4% fully vaccinated. Is this administration being fact checked like Trump was? Where is the lie tracker?
Don’t be silly. Just live the Covid death number, they might mention it vs obsessively slobbing over it. They don’t even try to hide it and yet the left like ptown pretend there is no difference.
I guess that number could include the entire population, including ineligible children. Either way, I love that they're blaming their utter failures on a minority of Americans.
posted by justincredibleI guess that number could include the entire population, including ineligible children. Either way, I love that they're blaming their utter failures on a minority of Americans.
At this point I don't think we're talking failures, as they can't be this inept. This is planned and purposeful; The People are under assault on all fronts. The point-of-no-return is no longer 'over the horizon'.
Biden halts work on border wall sections
Steel worth tens of millions of dollars will remain idle after
President Joe Biden canceled border wall construction in the sectors of Laredo,
Texas, and the Rio Grande Valley. In total, about $2 billion has been wasted so
far with the president's orders to halt wall construction, according to Senate
Homeland Security subcommittee ranking member James Lankford, R-Okla.
Full Story: WCTI-TV
(New Bern, N.C.) (10/11)
LOL, Kamala hired child actors for a NASA space video.
Not exactly a big deal, or probably even uncommon. Just another example of how fake and manufactured everything in politics is.
On a related note, does this mean Kamala needs to register with the SAG?
Your federal government hates you.
Biden plan would give IRS power to track bank accounts with $600 or more.
— Breaking911 (@Breaking911) October 12, 2021
Reporter says Americans are worried & asks Pelosi if measure will stay in the reconciliation bill.
PELOSI: “Yes, yes, yes, yes, yes.”pic.twitter.com/hZMGhPR6ou
posted by justincredibleYour federal government hates you.
Biden plan would give IRS power to track bank accounts with $600 or more.
Yeah, that's
pretty ridiculous. Though I heard they were maybe going to, instead,
increase the amount to $10k. Not sure of the finer details, but no idea how this materially differs from AML laws already on the books.
Also, what I thought I read was requiring reporting on TRANSACTIONS over $600, which would be a significant difference from what the tweet implies.
Did you know, when the current $10k reporting threshold was enacted that $10k was worth (I think, roughly) $70k in today's dollars? These MFers are patient.
I've heard the $600 reporting as both transactions over that amount and accounts with more than that amount. Both are terrible.
The audacity of this admin to pull a stunt like this when they're fixing to spend trillions of dollars we don't have.
posted by justincredibleDid you know, when the current $10k reporting threshold was enacted that $10k was worth (I think, roughly) $70k in today's dollars? These MFers are patient.
I've heard the $600 reporting as both transactions over that amount and accounts with more than that amount. Both are terrible.
Haha, good point. Same idea with the Alt Min Tax, I suppose.
But they already have all kinds of automated/digitized checks on the income you report on your tax return. And they can audit you any time they want and demand your banking records.
So not sure that this is really a "new" power, it's just harnessing technology to make it harder to cheat. But I do think with so many in the gig economy now, plus crypto, that a lot of taxable income isn't being fleshed out by traditional checks like 1090 and 1099's produced by employers and banks.
The other thing that struck me initially was a big chunk of the workforce get weekly paychecks of less than $600 (after-tax). So all the waitresses, bartenders and other people who massively under-report tip income can probably still stay under the radar.
Also, FYI, the AML laws can still get you even if you keep transfers under $10k. I'd guess the $600 limit might work similarly, and you might not actually get around it declaring $500 per week in income while getting regularly weekly deposits under the threshold but TOTALING $1000.
So exactly how will this work? Piggybacking on the "biggest gambling wins" thread, if someone hits a 5k jackpot, deposits the cash in their checking account (while they get their hand pay/tax slip at the casino) are these motherf#ckers going to try to double tax people?
Treasury proposed requiring financial institutions to annually report the total amount of money that went in and out of bank, loan and investment accounts if those accounts hold a value of at least $600, or if the total is at least $600 in a year.
That means that if the total debits (funds flowing out of the account) and credits (funds flowing into the account) equal at least $600 — including deposited paychecks or money transferred from finance apps like Cash App or PayPal — banks would have to report those figures to the IRS.
PS - they can all go fuck themselves.
posted by BR1986FBSo exactly how will this work? Piggybacking on the "biggest gambling wins" thread, if someone hits a 5k jackpot, deposits the cash in their checking account (while they get their hand pay/tax slip at the casino) are these motherf#ckers going to try to double tax people?
LOL....I have bad news for you - unless you are a professional gambler, you cannot net losses against wins. So your $5k jackpot is, and has been, taxable (even if you plunked in $10k to win it). Also, bricks & mortar casinos make you fill out a form and report all your jackpots over $1k (or is it $2.5k?) directly to the IRS.
So that REALLY makes slots a pretty lousy gambling choice. The other games I think you can keep your winnings under the radar so long as you don't cash out over $10k at a time.
I think the main goal here is to go after crypto gains, except I'm not sure this rule encompasses coin exchanges (although there's legislation on that, too, floating around so probably related). They definitely intend to make it harder and harder to realize large crypto gains and keep it off the radar.
posted by gutLOL....I have bad news for you - unless you are a professional gambler, you cannot net losses against wins. So your $5k jackpot is, and has been, taxable (even if you plunked in $10k to win it). Also, bricks & mortar casinos make you fill out a form and report all your jackpots over $1k (or is it $2.5k?) directly to the IRS.
So that REALLY makes slots a pretty lousy gambling choice. The other games I think you can keep your winnings under the radar so long as you don't cash out over $10k at a time.
I think the main goal here is to go after crypto gains, except I'm not sure this rule encompasses coin exchanges (although there's legislation on that, too, floating around so probably related). They definitely intend to make it harder and harder to realize large crypto gains and keep it off the radar.
Actually, you write off your losses up to your gains. Been doing this for years. If you win 100k in jackpots (on slots) yet show that you've played/lost 200k on your win/loss statement, you're not taxed on the 100k. You don't get any benefit from the extra 100k lost, but you don't pay taxes on the 100k you won.
What I'm asking is that are you going to get hit immediately with a tax if you deposit (random amount) 5k in cash in your checking when you may/may not have to pay taxes on it year end, depending on your win/loss statement and then possibly get taxed a second time if you show a net win on the win/loss?
The feds aren't stopping until they control everything you can buy. The incoming CBDC (central bank digital currency) is going to be a dystopian nightmare.
Oh, you haven't spent your weekly credits? Now they're gone. Looks like you've already purchased your pound of meat for the week. Purchase denied.
posted by BR1986FBActually, you write off your losses up to your gains. Been doing this for years. If you win 100k in jackpots (on slots) yet show that you've played/lost 200k on your win/loss statement, you're not taxed on the 100k. You don't get any benefit from the extra 100k lost, but you don't pay taxes on the 100k you won.
What I'm asking is that are you going to get hit immediately with a tax if you deposit (random amount) 5k in cash in your checking when you may/may not have to pay taxes on it year end, depending on your win/loss statement and then possibly get taxed a second time if you show a net win on the win/loss?
Yeah, I was mistaken - many states don't allow offsets, but the feds do. But the nature of jackpots means most people have nowhere near enough offset because the casual gamer can't carry losses forward. Slots and online have great records, but I'd guess if you were a big table games or track guy, the IRS would make it really hard on you.
As for your other question, I assume it will work similarly to the current automated reviews of returns. They'll match-up your bank deposits with your claimed income, and certain amounts or patterns of mismatches will trigger an audit. Depending on a bunch other stuff, you could owe a quarterly estimated payment if, say, you hit a $10k jackpot in May (no different than with investment gains).
But unless they add an army of agents, I imagine ordinary folks will never meet the threshold. So you're chance of an audit will probably remain around 1% or whatever the random audit percent is currently.
Open the Mexican border???
Not a Jon Gruden fan but what he said about Biden in those e-mails was spot on.
