Are you a Biden supporter?
Dec 9, 2021 13:58:57 #
If you are a Biden supporter then you probably support his Build Back Better bill. That bill will hire 39,000 additional IRS agents with the express purpose to examine any bank activity over 28 $. That meas the IRS can investigate YOUR account for any reason they choose, so long as it's over 28$ per item. EVERY ONE.If you write a check, udse a credit card, ANYTHING . the IRS can spy on you. Thats less than your grocery bill. Do you really wajnt the Gov't to have that kind of power? They can audit you for any reason they want, if you have only ONE 28$ item. What kind of country do you want to live in? A country with a weaponised IRS DO YOU?? I dont. I oppose the BBB bill. If you dont want to live in a dictatorship (the BBB is the start) do you? My opinion---if you support that bill you are an effing idiot
Dec 9, 2021 14:26:20 #
boberic wrote:
If you are a Biden supporter then you probably sup... (show quote)
Please provide a source for your info.....
Dec 9, 2021 14:42:15 #
erl wrote:
Please provide a source for your info.....
Go right to the facts!
https://taxfoundation.org/build-back-better-plan-reconciliation-bill-tax/
https://www.cbsnews.com/news/irs-bank-account-update-change-treasury-10000-dollars/
Dec 9, 2021 15:25:47 #
erl wrote:
Please provide a source for your info.....
Turnsr out my info was innacurate. The amount was wrong It is not 28 dollars per item BUT it is a $600 bank ACCOUNT . The amount now is any activity of ten grand must be reported But the total in the account is not. The new law is a $600 account. This info is easily found on any google search. Some in congress are trying to change this. But there is no gurantee that they can. Sorry for my error, I wiil try to be more accurate in the future. BTW a $600 bank account is very close to nothiing, it wont even pay for a winter home heating bill. We just had a monthly 200 gallon heating oil delivery, At just under 3 bucks/gallon, there is $600/ We get 2 deliveries/year
Dec 9, 2021 17:10:11 #
boberic wrote:
Turnsr out my info was innacurate. The amount was... (show quote)
It was not a "$600 account"...it was $600 in inflows or outflows from an account, not counting wages or salaries.
However, as the second link provided by Triple G in response to your initial post explains, it is being changed to $10,000 in inflows or outflows.
The idea is to look for accounts that have a highly unusual amount of inflows or outflows inconsistent with the level of income the account is based upon. A person who earns say $5,000 per month but has inflows or outflows totalling millions would find themselves subject to an audit...which would be perfectly reasonable.
Dec 10, 2021 01:09:17 #
Triple G wrote:
Let's just deal with the second link. The IRS would track any bank accounts with $10,000 or more flowing through them in a year. Isn't that virtually everyone in the country that is gainfully employed? It may be more money than Bobric said, but it certainly impacts almost everyone.
Do you really support that?
Dec 10, 2021 01:11:09 #
flip1948 wrote:
It was not a "$600 account"...it was $60... (show quote)
I understand the idea. But don't you have at least 10,000 of inflows and outflows? Do you really want the government spying on your banking? Doesn't matter what the idea is, it's an obvious invasion of privacy on virtually every working adult in the country. Do you support that?
Dec 10, 2021 02:08:27 #
btbg wrote:
I understand the idea. But don't you have at least 10,000 of inflows and outflows? Do you really want the government spying on your banking? Doesn't matter what the idea is, it's an obvious invasion of privacy on virtually every working adult in the country. Do you support that?
You already support the IRS watching your interest amounts paid and received. The banks are doing the monitoring and reporting and the IRS has “alerts” setup in their systems to flag any transactions that may be problematic. The same thing will happen here and your contention that all tax payers will be under constant surveillance is just not true. Yes, I support the IRS having methods to catch tax cheats just as I support government programs having methods to catch aid cheats.
Fraud creates additional costs for the honest ones and I do not fear any random review of my transactions.
Dec 10, 2021 05:55:01 #
btbg wrote:
I understand the idea. But don't you have at least 10,000 of inflows and outflows? Do you really want the government spying on your banking? Doesn't matter what the idea is, it's an obvious invasion of privacy on virtually every working adult in the country. Do you support that?
Yours is an overreaction; and fails to mention all the positive that will come from Build America Back. The point being the title of your thread is misapplied.
Dec 10, 2021 06:31:43 #
Kmgw9v wrote:
Yours is an overreaction; and fails to mention all the positive that will come from Build America Back. The point being the title of your thread is misapplied.
You’re good with it for “non-working” adult, but not working? Just asking.
Dec 10, 2021 08:00:10 #
Dec 10, 2021 08:27:50 #
joehel2 wrote:
The activity in my bank account would bore the agents to death.
Nothing in my accounts would trigger any notice either, but if something did by chance; the investigation would be short lived, and would not change anything I currently do.
Dec 10, 2021 08:51:11 #
No, I am not a Biden supporter. I still have my intelligence and common sense.
Dec 10, 2021 09:05:03 #
LDB415 wrote:
No, I am not a Biden supporter. I still have my intelligence and common sense.
Did you think we should have stayed in Afghanistan 20 more years? Did you think we should have neglected infrastructure for another twenty years? Are you anti-vaccination who wants the virus to spread?
Are you a friend of Putin’s?
Dec 10, 2021 09:13:35 #
Kmgw9v wrote:
Did you think we should have stayed in Afghanistan 20 more years? Did you think we should have neglected infrastructure for another twenty years? Are you anti-vaccination who wants the virus to spread?
Are you a friend of Putin’s?
Are you a friend of Putin’s?
I think we should have properly left Afghanistan in a manner that did not arm enemies as well or better than some allies. I think we should actually do something about infrastructure, not use it as camouflage for pork. I think we should not allow our border and sovereignty to be eliminated. I think we should stay energy independent. I think dumber than dirt leftist moron fools should be seen and not heard.
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