D-train wrote: ↑Wed Aug 17, 2022 10:57 am
ddraig wrote: ↑Wed Aug 17, 2022 12:39 am
Think about this. Lets say your income keeps pace with the government induced inflation. That means your income at $100,000 a year goes up roughly 20% per year. How long before your income places you in the "rich" category even though you are only making what the Middle Class makes? And if the IRS is auditing $600 of transactions, how many times per year do you spend over $600? I just spent $2300 on a differential for my car. Does that flag the IRS? Probably. Your vacation places that into the "rich" category. So will the purchase of a new house or car. Any time you spend over $600, the IRS can flag you. How much will a party of eight spend at Ruth's Chris for dinner?
I had a birthday party for Lynda at a private room at Daniels in Bellevue about 15 years ago for about a dozen people and it was about $2k
Rent, house payment, car payment, a few nights in a hotel. A flight to Europe or Asia. I think this $600 thing has been taken and used to feed unfounded concerns.
https://www.snopes.com/fact-check/biden ... ollar-irs/
By the way, it seems to me that most conservatives support the police, right? So when some Black community activist complains about systematic profiling, or unfair treatment of Blacks by police, most conservatives would say "don't do anything wrong, but if you are stopped, don't run and be respectful." Right? That is what I say. The police are dong their jobs on behalf of all of us.
So how come it's different with the IRS? I say, don't do anything wrong, but if you are contacted (I've had mistakes corrected by the IRS that did not trigger audits) be respectful. They are doing their jobs on behalf of all of us.