Fucking crickets. It figures. It really pisses me off, ya know? Say some shit and then disappear. There were two things in your post that didn't make sense to me. This is NOT 'pretty much done by banks anyway, esp on a smaller scale. Banks report deposits of 10K or more. Also this would in no way pinpoint which companies are paying workers as contract laborers who SHOULD be employees. It would only target the worker. Companies really only get popped for that in the event of a UIA audit or if they've got 100K in contract labor and zero 1099's issued, that's a red flag to the IRS. Come on, man, anything? Bueller?

yes, please have a discussion about this! I am off to Google as well. I can't believe I missed this development. We *are* a small business and auditing like this would be a nightmare since we operate almost entirely in cash.

Can we have a discussion about this? I want to know what you read that was different from what I read. https://www.forbes.com/sites/irswatch/20...

This is pretty much already done by banks anyway, just on a smaller scale. Biden's plan does NOT require taxpayers to reconcile bank deposits and withdraws with reported income nor can the IRS do that. What it does do is crack down on companies who classify workers as 1099 to avoid paying for things like benefits and work comp when they should be classified as W2 employees. It also prevents the wealthy from exploiting the 1099 loophole to avoid paying taxes. Your $500 in interest is a non-issue. So is the $1000 Aunt Betty gave you for your birthday that you deposit into your account. Stop fear mongering and instead learn how it actually works.

I'm pretty pissed off about this whole bank 1099 thing Biden has come up with. So every bank account of every single American (individuals, not corporations) is going to have its aggregate inflow and outflow of cash reported to the IRS. Tens of thousands of new agents will be hired to do more audits. If you're a gig worker and you only report what's been issued on a 1099 from a job- you better hope you didn't deposit that money you got in cash, or from a one-off gig that was less than $600 and didn't trigger a 1099 for you. Because if it hit your bank account, big brother is gonna know about it, 1099 or not. This is part of the families first act but you won't read this part in the White House press release. Nothing like going after the little guys. And FTR- I'm a democrat and think *rump is human garbage.

Joe Biden needs to just tell Mitch and company to go fuck themselves and start issuing executive orders for things like voting reform.

I'm already dreading 4th of July because MFers already started the fireworks. Always hated this holiday with a passion because everyone shoots off illegal fireworks and gunshots that startle the eff out of me and set off car alarms. I'm going to start reporting them.

This just reminds me how much they actually hate free speech for anyone except them too...the Nike thing was bizarre. How can you claim that you want a free country when you also claim someone is a criminal for not standing during the anthem? They have totally mastered doublespeak. I wish Elon would hurry up so we can send all the fuckers to Mars (Elon can fuck off too) They can have a dusty dead planet with no life on it to trash while the rest of us try and salvage ours. I can dream.

You mean like how the right boycotted Starbucks, the NFL, Nike, MLB, Delta, etc., but then have entire campaigns against cancel culture? Yeah, not hypocritical at all.

How is it possible that the right wing always claims the left politicizes everything? Like they successfully convinced everyone gay people were doing wrong and then bitched they were sick of hearing about politics when gay marriage was the big thing, now it's the transgender people...pretty sure neither of these groups *want* to be political. Then they successfully managed to politicize science not once but twice, with climate change and Covid. They politicized wearing a fucking face mask. They're just literally guilty of everything they accuse others of at this point. Literally all of their "arguments" boil down to, "No, you."