Dems Say $1.7 Trillion Spending Bill Won’t Raise Inflation, Do You Trust Them?
Americans Trapped By New Tax Rule
As you may already know, President Biden and the Democrats have made it so that starting in 2023, all American taxpayers will now have to report any and all transactions over $600 made on apps like Venmo, CashApp, PayPal and more.
Now several tax advocacy groups are demanding that the new IRS rule be postponed because it was cause a “disaster” scenario for American taxpayers and President Biden doesn’t care.
According to Fox, Americans for Tax Reform President Grover Norquist explained, “Unless you have the receipts for all of the things that you’re selling at some point, you’re going to be hit with a note from the IRS: ‘You owe us money on this. How would you like to be audited? Tens of millions of these are going out. It’s a disaster.”
This new IRS rule only applies to payments taken for goods and services transactions and it requests that taxpayers report transactions amounting to over $600 over the course of a year.
Previously this same rule only applied to transactions amounting to over $20,000 or more.
Sadly, even after public outcry, President Biden and the Democrats have only doubled down and followed through with the new plan to acquire as much funding as possible for the government.
