Discussion:
Pelosi Confirms IRS Will Track All Purchases Over $600
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BTR1701
2021-10-14 10:40:44 UTC
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Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.

https://twitter.com/fiorella_im/status/1448170332955811841?s=21

The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.

The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
trotsky
2021-10-14 12:00:18 UTC
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Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
Sounds like she's putting her foot down with respect legalized tax
evasion. A shot across the bow as it were. Your knowledge of politics
couldn't fill a thimble.
anim8rfsk
2021-10-14 14:58:06 UTC
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Permalink
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?

What about my automatic transfers from savings to checking to pay my bills?


“The last thing I want to do is hurt you, but it’s still on my list.”
chromebook test
2021-10-14 19:45:20 UTC
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Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
Post by anim8rfsk
What about my automatic transfers from savings to checking to pay my bills?
That's not a purchase either.
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
Yeah, it may get included in the bill but there's no way the IRS has
enough staff to monitor this. I'll have to ask my nephew-in-law who
works in the LA office.
No need to ask. The IRS like the NSA, will be automated with AI bots. Use a bad word and the NSA sends a flag for a closer look. Make a bad $50 transaction and the URS will send a flag for a closer look.




TAGS: #nobodyislisteningtoyourphonecalls #joebidenreadmylipsnonewtaxes #bitcoin
suzeeq
2021-10-14 20:14:56 UTC
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Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
BTR1701
2021-10-15 00:47:08 UTC
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Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600
purchases will be tracked.
Adam H. Kerman
2021-10-15 02:32:11 UTC
Reply
Permalink
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and
more time on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
anim8rfsk
2021-10-15 02:40:03 UTC
Reply
Permalink
Post by Adam H. Kerman
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and
more time on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
That’s how I read it. So my Social Security payments, that new water heater
I need, damn near any kind of repair do your house or replacement of major
appliance. This will have to give them access to your credit card
statements.


“The last thing I want to do is hurt you, but it’s still on my list.”
trotsky
2021-10-15 09:03:36 UTC
Reply
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Post by anim8rfsk
Post by Adam H. Kerman
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
That’s how I read it. So my Social Security payments, that new water heater
I need, damn near any kind of repair do your house or replacement of major
appliance. This will have to give them access to your credit card
statements.
Yes, they'd find out about all those dildo purchases.
moviePig
2021-10-15 14:58:48 UTC
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Post by trotsky
Post by anim8rfsk
Post by Adam H. Kerman
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
That’s how I read it. So my Social Security payments, that new water heater
I need, damn near any kind of repair do your house or replacement of major
appliance. This will have to give them access to your credit card
statements.
Yes, they'd find out about all those dildo purchases.
I'll resist curiosity about the specs of $600 dildo...
chromebook test
2021-10-15 15:42:38 UTC
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Permalink
Post by moviePig
Post by trotsky
Post by anim8rfsk
Post by Adam H. Kerman
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
That’s how I read it. So my Social Security payments, that new water heater
I need, damn near any kind of repair do your house or replacement of major
appliance. This will have to give them access to your credit card
statements.
Yes, they'd find out about all those dildo purchases.
I'll resist curiosity about the specs of $600 dildo...
A ten pack at $60 each ... trust me, if it's sold anywhere online, mime has seen it at liquidation sales.
moviePig
2021-10-15 16:29:13 UTC
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Permalink
Post by chromebook test
Post by trotsky
Post by anim8rfsk
Post by Adam H. Kerman
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
Waitaminit. ANY transaction over $600 would get reported, not just bank
deposits?
That’s how I read it. So my Social Security payments, that new water heater
I need, damn near any kind of repair do your house or replacement of major
appliance. This will have to give them access to your credit card
statements.
Yes, they'd find out about all those dildo purchases.
I'll resist curiosity about the specs of [a] $600 dildo...
A ten pack at $60 each ... trust me, if it's sold anywhere online, mime has seen it at liquidation sales.
Someone drove a hard bargain...
suzeeq
2021-10-15 06:14:50 UTC
Reply
Permalink
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
anim8rfsk
2021-10-15 12:34:50 UTC
Reply
Permalink
Post by suzeeq
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Even if you don’t think it’s a bank transaction on your end it probably is
on the other end. Either way it’s monitored.
--
“The last thing I want to do is hurt you, but it’s still on my list.”
super70s
2021-10-15 15:32:00 UTC
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Permalink
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.

Banks are really raising hell about this because they know a lot of
people don't trust them with their money as it is.

It wouldn't take effect until 2024 so if Republicans are in full control
at the beginning of 2025 they may be able to repeal the law's most
egregious parts.
BTR1701
2021-10-15 17:03:22 UTC
Reply
Permalink
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
anim8rfsk
2021-10-15 17:24:23 UTC
Reply
Permalink
Post by BTR1701
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
That’s exactly what I was thinking. Set up things so that nothing more than
$599 goes through at one time.


“The last thing I want to do is hurt you, but it’s still on my list.”
BTR1701
2021-10-15 17:48:13 UTC
Reply
Permalink
In article
Post by BTR1701
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
That’s exactly what I was thinking. Set up things so that nothing more than
$599 goes through at one time.
That's already a crime with regard to the $10,000 reporting requirement.
If you make a series of deposits or withdrawals in the $9,000 range,
they'll charge you with 'structuring' because when the government
decides it wants to surveil you, it also to makes it illegal for you to
avoid the Eye of Sauron.
trotsky
2021-10-15 18:03:18 UTC
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Post by anim8rfsk
Post by BTR1701
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
That’s exactly what I was thinking. Set up things so that nothing more than
$599 goes through at one time.
That's the stupidest pile of bullshit I've ever heard.
super70s
2021-10-15 17:50:58 UTC
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Permalink
Post by BTR1701
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
Oh don't worry they're already working on that.

Any addendums will probably be to exempt members of Congress from the
reporting, lol.
trotsky
2021-10-15 18:00:50 UTC
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Permalink
Post by BTR1701
In article
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Next wait for them
How long should we wait?
The Horny Goat
2021-10-16 06:26:50 UTC
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Post by BTR1701
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
What does that even mean? I put rather more than $600 / year of
gasoline in my car. Would I be deemed to be tryng to evade reporting
requirements?
Adam H. Kerman
2021-10-16 13:31:35 UTC
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Post by The Horny Goat
Post by BTR1701
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
What does that even mean? I put rather more than $600 / year of
gasoline in my car. Would I be deemed to be tryng to evade reporting
requirements?
He already explained it. He's making a reference to the crime of
structuring under the Bank Secrecy Act of 1970, which imposes the duty
of special record keeping and "suspicious activity reporting" to FinCEN
(US Treasury Financial Crimes Enforcement Network) upon banks.

The law simply makes all transactions "suspicious transactions". There
are reporting requirements for transactions of at least $5,000 in
aggregate and special record keeping for funds transfers of $3,000 or
more and an obligation upon the bank to report cash deposits over
$10,000. The crime of structuring itself is breaking up transactions so
that they appear to be under the reporting threshold.

https://www.fincen.gov/resources/statutes-regulations/administrative-rulings/suspicious-activity-reporting-structuring

Now, I have no idea if the proposed new reporting requirement is being
done as an amendment to the Bank Secrecy Act or a separate reporting
regime. It's probably the latter.
The Horny Goat
2021-10-16 15:30:54 UTC
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Permalink
On Sat, 16 Oct 2021 13:31:35 -0000 (UTC), "Adam H. Kerman"
Post by Adam H. Kerman
The law simply makes all transactions "suspicious transactions". There
are reporting requirements for transactions of at least $5,000 in
aggregate and special record keeping for funds transfers of $3,000 or
more and an obligation upon the bank to report cash deposits over
$10,000. The crime of structuring itself is breaking up transactions so
that they appear to be under the reporting threshold.
https://www.fincen.gov/resources/statutes-regulations/administrative-rulings/suspicious-activity-reporting-structuring
Now, I have no idea if the proposed new reporting requirement is being
done as an amendment to the Bank Secrecy Act or a separate reporting
regime. It's probably the latter.
So if I - a non-US storekeeper who gets much of my stock from the US -
makes a purchase in the $1000-5000 range, have them shipped to a UPS
outlet near the Canada - US border, drive down to Blaine, WA (usually
about an hour's drive but these days with border hassle and fees about
twice that) and usually with 3 or 4 shipments per trip in that $ range
all of which is declared at Canada Customs on crossing the border
heading northbound - can expect to be on somebody's records somewhere
though presumably with a long enough record of such transactions to
avert serious suspicion?

(This scenario is something pre-covid we did twice a month, currently
5-6 weeks with more vendors' shipments included. HINT: we do this as
it makes commercial sense to do so which should tell you plenty about
US UPS rates and fees. During the summer I got one vendor to quote
Illinois - northern WA and Illinois - Vancouver,BC.CA and got shipping
rates of $16 and $98 and the latter rate did NOT include customs
brokerage which we do ourselves on trips like the one described above.
On another shipment which came by truck from upstate NY, they kept it
in a warehouse for a week and charged us an extra $400 on a $5000
shipment which in connection with our other fees was more than our
markup on the shipment!
Adam H. Kerman
2021-10-16 16:40:07 UTC
Reply
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Post by The Horny Goat
Post by Adam H. Kerman
The law simply makes all transactions "suspicious transactions". There
are reporting requirements for transactions of at least $5,000 in
aggregate and special record keeping for funds transfers of $3,000 or
more and an obligation upon the bank to report cash deposits over
$10,000. The crime of structuring itself is breaking up transactions so
that they appear to be under the reporting threshold.
https://www.fincen.gov/resources/statutes-regulations/administrative-rulings/suspicious-activity-reporting-structuring
Now, I have no idea if the proposed new reporting requirement is being
done as an amendment to the Bank Secrecy Act or a separate reporting
regime. It's probably the latter.
So if I - a non-US storekeeper who gets much of my stock from the US -
. . .
I have no opinion on your example.
BTR1701
2021-10-16 17:42:28 UTC
Reply
Permalink
Post by The Horny Goat
On Sat, 16 Oct 2021 13:31:35 -0000 (UTC), "Adam H. Kerman"
Post by Adam H. Kerman
The law simply makes all transactions "suspicious transactions". There
are reporting requirements for transactions of at least $5,000 in
aggregate and special record keeping for funds transfers of $3,000 or
more and an obligation upon the bank to report cash deposits over
$10,000. The crime of structuring itself is breaking up transactions so
that they appear to be under the reporting threshold.
https://www.fincen.gov/resources/statutes-regulations/administrative-rulings/
suspicious-activity-reporting-structuring
Now, I have no idea if the proposed new reporting requirement is being
done as an amendment to the Bank Secrecy Act or a separate reporting
regime. It's probably the latter.
So if I - a non-US storekeeper who gets much of my stock from the US -
makes a purchase in the $1000-5000 range, have them shipped to a UPS
outlet near the Canada - US border, drive down to Blaine, WA (usually
about an hour's drive but these days with border hassle and fees about
twice that) and usually with 3 or 4 shipments per trip in that $ range
all of which is declared at Canada Customs on crossing the border
heading northbound - can expect to be on somebody's records somewhere
though presumably with a long enough record of such transactions to
avert serious suspicion?
There are horror stories of small business owners having their entire
life savings seized by the government because they made weekly deposits
in the $8000-9000 range. That just happened to be what their business
made on a weekly basis but the government claimed they were really drug
dealers and were making deposits just below the $10,000 reporting
requirement to avoid detection. So they seized everything they owned but
never charged them with any crime, drug-related or otherwise.

These situations are particularly awesome because it allows the
government to tyrannically abuse *two* appalling laws that ought not to
exist in a free society: structuring and no-charge asset forfeiture.
The Horny Goat
2021-10-16 18:02:58 UTC
Reply
Permalink
Post by BTR1701
There are horror stories of small business owners having their entire
life savings seized by the government because they made weekly deposits
in the $8000-9000 range. That just happened to be what their business
made on a weekly basis but the government claimed they were really drug
dealers and were making deposits just below the $10,000 reporting
requirement to avoid detection. So they seized everything they owned but
never charged them with any crime, drug-related or otherwise.
These situations are particularly awesome because it allows the
government to tyrannically abuse *two* appalling laws that ought not to
exist in a free society: structuring and no-charge asset forfeiture.
What ever happened to a right not to be deprived of your property or
liberty without due process of law?

That's fundamental to having a free society

That isn't even Liberty 101 or even 100
suzeeq
2021-10-16 14:59:28 UTC
Reply
Permalink
Post by The Horny Goat
Post by BTR1701
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
What does that even mean? I put rather more than $600 / year of
gasoline in my car. Would I be deemed to be tryng to evade reporting
requirements?
I think it's $600 per transaction, not per year.
Adam H. Kerman
2021-10-16 16:44:11 UTC
Reply
Permalink
Post by suzeeq
Post by The Horny Goat
Post by BTR1701
Next wait for them to add an addendum that makes it a crime to arrange
your purchases and transactions in order to avoid the $600 reporting
requirement.
What does that even mean? I put rather more than $600 / year of
gasoline in my car. Would I be deemed to be tryng to evade reporting
requirements?
I think it's $600 per transaction, not per year.
BTR1701 was wondering if a crime similar to "structuring" will go along
with this new provision to avoid having transactions reported by your
bank.

I have no idea what the aggregation means but I infer that "structuring"
won't apply as the banks will attempt to aggregate all similar types of
transactions and report the gross amount annually, unless the bank
customer is exempt because his bank balance is below the $600 threshold.

It doesn't appear that transactions are reported as they occur but in
aggregate, annually. But I don't really know; I haven't read the
language.
Adam H. Kerman
2021-10-15 17:31:41 UTC
Reply
Permalink
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
According to Snopes, it's all inflows and outflows, but in aggregate,
not individual transactions above $600.

I cannot find a summary of the proposed legislation that thoroughly
explains what is to be reported. However, thus far, I cannot find anyone
stating that retail transactions over $600 are reported.

Reporting appears to be limited to banks reporting on their own account
holders.
Post by super70s
Banks are really raising hell about this because they know a lot of
people don't trust them with their money as it is.
It wouldn't take effect until 2024 so if Republicans are in full control
at the beginning of 2025 they may be able to repeal the law's most
egregious parts.
Where did you get 2024? It's proposed to take effect in 2023.
super70s
2021-10-15 17:52:35 UTC
Reply
Permalink
Post by Adam H. Kerman
Post by super70s
It wouldn't take effect until 2024 so if Republicans are in full control
at the beginning of 2025 they may be able to repeal the law's most
egregious parts.
Where did you get 2024? It's proposed to take effect in 2023.
It was in one of the several articles I googled. <shrug>
The Horny Goat
2021-10-16 06:25:07 UTC
Reply
Permalink
On Fri, 15 Oct 2021 10:32:00 -0500, super70s
Post by super70s
Just as bad is even if you have at least $600 *sitting in your account*
at the end of the year your statements are going to be reported to the
IRS. However this absurdly low total is reportedly being renegotiated up
to $10,000.
Banks are really raising hell about this because they know a lot of
people don't trust them with their money as it is.
It wouldn't take effect until 2024 so if Republicans are in full control
at the beginning of 2025 they may be able to repeal the law's most
egregious parts.
Which would presumably mean that assuming your paycheck is $600+
(which if you're paid bi-monthly almost certainly is) and it's paid by
direct deposit it would be reported. Or if you go to the bank or ATM
to deposit your paycheck if paid that way.

Which would almost certainly be 90+% of working Americans.
Ed Stasiak
2021-10-16 18:34:34 UTC
Reply
Permalink
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.

Flagging $600 transactions is retarded, if the IRS gets anybody on
illegal shit it'll Joe Blow regular people squirreling away some slot
machine winnings. Meanwhile, the Wall Street 1%ers are shipping
bazillions of dollars to secret overseas bank accounts.

https://en.wikipedia.org/wiki/Panama_Papers

The Panama Papers (Spanish: Papeles de Panamá) are 11.5 million leaked documents (or 2.6 terabytes of data) that were published beginning on April 3, 2016. The papers detail financial and attorney–client information for more than 214,488 offshore entities.[1][2][3][4][5][6] The documents, some dating back to the 1970s,[7] were created by, and taken from, former Panamanian offshore law firm and corporate service provider Mossack Fonseca.[8][9][10]

https://en.wikipedia.org/wiki/Pandora_Papers

The Pandora Papers are 11.9 million leaked documents with 2.9 terabytes of data that the International Consortium of Investigative Journalists (ICIJ) published beginning on 3 October 2021.[1][2][3] The leak exposed the secret offshore accounts of 35 world leaders, including current and former presidents, prime ministers, and heads of state as well as more than 100 billionaires, celebrities, and business leaders. Estimates by the ICIJ of money held offshore (outside the country where the money was made) range from US$5.6 trillion to US$32 trillion.[3][12][13]
shawn
2021-10-16 20:21:19 UTC
Reply
Permalink
On Sat, 16 Oct 2021 11:34:34 -0700 (PDT), Ed Stasiak
Post by Ed Stasiak
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.
Debit card? What is that?

I use a credit card for most purchases as that gives me the protection
against fraud that a debit card does not. For things like my rent I
use an electronic check.
Post by Ed Stasiak
Flagging $600 transactions is retarded, if the IRS gets anybody on
illegal shit it'll Joe Blow regular people squirreling away some slot
machine winnings. Meanwhile, the Wall Street 1%ers are shipping
bazillions of dollars to secret overseas bank accounts.
I don't see any way this holds because it is just going to flood the
IRS with information to the point that they won't be able to properly
process it. If it was really about catching tax cheats then it
wouldn't be such a low number. One that's low enough to include
practically every adult in the USA.
Post by Ed Stasiak
https://en.wikipedia.org/wiki/Panama_Papers
The Panama Papers (Spanish: Papeles de Panamá) are 11.5 million leaked documents (or 2.6 terabytes of data) that were published beginning on April 3, 2016. The papers detail financial and attorney–client information for more than 214,488 offshore entities.[1][2][3][4][5][6] The documents, some dating back to the 1970s,[7] were
created by, and taken from, former Panamanian offshore law firm and corporate service provider Mossack Fonseca.[8][9][10]
Post by Ed Stasiak
https://en.wikipedia.org/wiki/Pandora_Papers
The Pandora Papers are 11.9 million leaked documents with 2.9 terabytes of data that the International Consortium of Investigative Journalists (ICIJ) published beginning on 3 October 2021.[1][2][3] The leak exposed the secret offshore accounts of 35 world leaders, including current and former presidents, prime ministers, and heads
of state as well as more than 100 billionaires, celebrities, and business leaders. Estimates by the ICIJ of money held offshore (outside the country where the money was made) range from US$5.6 trillion to US$32 trillion.[3][12][13]
anim8rfsk
2021-10-16 21:31:09 UTC
Reply
Permalink
Post by shawn
On Sat, 16 Oct 2021 11:34:34 -0700 (PDT), Ed Stasiak
Post by Ed Stasiak
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.
Debit card? What is that?
I have never had one. And yet when I call my credit card company they ask
me to give them the numbers off of it to identify myself. This gives me
very little faith in the system.

The Facebook wants you to use their services to send money to other people
but you have to have debit cards on both ends.
Post by shawn
I use a credit card for most purchases as that gives me the protection
against fraud that a debit card does not. For things like my rent I
use an electronic check.
My stupid office landlord wanted a physical check so I used my bank to send
her one but it didn’t ever cross my hands.

I run everything through my Amazon credit card and it gets me a ton of
points every month.
--
“The last thing I want to do is hurt you, but it’s still on my list.”
Ed Stasiak
2021-10-16 21:41:25 UTC
Reply
Permalink
Post by shawn
shawn
Post by shawn
Ed Stasiak
Everybody is using debit cards nowadays.
I use a credit card for most purchases as that gives me the protection
against fraud that a debit card does not. For things like my rent I use
an electronic check.
And how are you paying off that credit card bill?

Yeah, I thought so. Up against the wall, motherfucker!
Post by shawn
Post by shawn
Flagging $600 transactions is retarded, if the IRS gets anybody on
illegal shit it'll Joe Blow regular people squirreling away some slot
machine winnings. Meanwhile, the Wall Street 1%ers are shipping
bazillions of dollars to secret overseas bank accounts.
I don't see any way this holds because it is just going to flood the
IRS with information to the point that they won't be able to properly
process it. If it was really about catching tax cheats then it wouldn't
be such a low number. One that's low enough to include practically
every adult in the USA.
The IRS will run them all thru some half-ass computer algorithms,
which will be even sloppier then the shit social media sites use.

Don’t be surprised when all kinda average Americans get jammed up
by the IRS because the agency’s "anti-fraud" software flags them
for no reason. And I'll bet dollars to donuts that getting off the IRS'
bullshit $600+ hit list will be even more difficult then the FAA’s no-fly
list.

Meanwhile in California, you can walk in a store and steal $600+
worth of shit and the cops won't even show up to arrest you...
anim8rfsk
2021-10-16 21:21:58 UTC
Reply
Permalink
Post by Ed Stasiak
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.
I don’t have a physical checkbook anymore either and haven’t for years but
I’m going to have to get one again because the major house repair people
are going away and the private folk don’t take credit cards. I might even
have to stock pile cash.
Post by Ed Stasiak
Flagging $600 transactions is retarded,
And evil

I need a new water heater. That means I’ll have to write a check to
somebody for about 1000 bucks. That’ll get me and them on a watchlist?



“The last thing I want to do is hurt you, but it’s still on my list.”
anim8rfsk
2021-10-16 23:39:07 UTC
Reply
Permalink
Post by Ed Stasiak
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.
I don't have a physical checkbook anymore either and haven't for years but
I'm going to have to get one again because the major house repair people
are going away and the private folk don't take credit cards. I might even
have to stock pile cash.
Post by Ed Stasiak
Flagging $600 transactions is retarded,
And evil
I need a new water heater. That means I'll have to write a check to
somebody for about 1000 bucks. That'll get me and them on a watchlist?
You already are.
But maybe they aren’t.
--
“The last thing I want to do is hurt you, but it’s still on my list.”
anim8rfsk
2021-10-16 23:47:21 UTC
Reply
Permalink
On Sat, 16 Oct 2021 21:27:58 -0000 (UTC), "Adam H. Kerman"
Post by Ed Stasiak
suzeeq
Post by Adam H. Kerman
BTR1701
Nothing misleading about it. Purchases are transactions, which
means all $600+ purchases will be tracked.
I think of a bank transaction more as a deposit or withdrawal. Not
checks or debits for goods or services.
Everybody is using debit cards nowadays. I no longer even have
a physical paper checkbook, as all my payments are done on-line
thru direct debit and the money for that arrives from my paycheck
via direct deposit.
I don't have a physical checkbook anymore either and haven't for years but
I'm going to have to get one again because the major house repair people
are going away and the private folk don't take credit cards. I might even
have to stock pile cash.
Post by Ed Stasiak
Flagging $600 transactions is retarded,
And evil
I need a new water heater. That means I'll have to write a check to
somebody for about 1000 bucks. That'll get me and them on a watchlist?
You already are.
He's been on pharmacy girl's watch list for years.
And now with everybody masked I can’t even tell if it’s her watching me.
--
“The last thing I want to do is hurt you, but it’s still on my list.”
trotsky
2021-10-15 08:45:11 UTC
Reply
Permalink
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all $600+
purchases will be tracked.
"But but but muh freedoms!"
trotsky
2021-10-15 09:02:04 UTC
Reply
Permalink
Post by BTR1701
Post by suzeeq
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they⤁re really coming for you.
The IRS should spend less time on grandma's $600 transactions and
more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct
deposits?
Every single month?
That's not a purchase.
It's not about purchases!
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Ahh, I was looking at the misleading subject line.
Nothing misleading about it. Purchases are transactions, which means all
$600+
purchases will be tracked.
Of course it's misleading. Purchases are a subset of transactions, and
transactions are what is being monitored.
Which would include purchases.
Holy balls, you don't know what "subset" means you dumb fucking bastard?
Get the fuck off the group already, you're sickening.
BTR1701
2021-10-14 21:31:11 UTC
Reply
Permalink
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
Post by anim8rfsk
What about my automatic transfers from savings to checking to pay my bills?
That's not a purchase either.
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
AMERICAN PEOPLE: We demand more cops to stop the exploding crime!

BIDEN: Best I can do is 10,000 new IRS agents.
moviePig
2021-10-14 21:49:54 UTC
Reply
Permalink
Post by BTR1701
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
Post by anim8rfsk
What about my automatic transfers from savings to checking to pay my bills?
That's not a purchase either.
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
AMERICAN PEOPLE: We demand more cops to stop the exploding crime!
BIDEN: Best I can do is 10,000 new IRS agents.
Huh, I thought the American People were "Defund the Police!"...
BTR1701
2021-10-14 22:17:28 UTC
Reply
Permalink
Post by moviePig
Post by BTR1701
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
AMERICAN PEOPLE: We demand more cops to stop the exploding crime!
BIDEN: Best I can do is 10,000 new IRS agents.
Huh, I thought the American People were "Defund the Police!"...
No, that's just a very small number of radical Marxist leftists and
politicians who pander to them that want that. Go to South Central and
ask any black person who isn't a gang-banger if they want more or less
cops in their neighborhoods. You'll be surprised, although you ought not
to be.
trotsky
2021-10-15 08:34:16 UTC
Reply
Permalink
Post by BTR1701
Post by moviePig
Post by BTR1701
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
AMERICAN PEOPLE: We demand more cops to stop the exploding crime!
BIDEN: Best I can do is 10,000 new IRS agents.
Huh, I thought the American People were "Defund the Police!"...
No, that's just a very small number of radical Marxist leftists and
politicians who pander to them that want that. Go to South Central and
ask any black person who isn't a gang-banger if they want more or less
cops in their neighborhoods.
So, Derpshit, are ignorant of what defund the police means or are you
lying as usual?

Defund the police

"Defund the police" is a slogan that supports divesting funds from
police departments and reallocating them to non-policing forms of public
safety and community support, such as social services, youth services,
housing, education, healthcare and other community resources. Wikipedia


It took me 20 seconds to google this. Do you need help finding the
google site?
trotsky
2021-10-15 08:36:56 UTC
Reply
Permalink
Post by BTR1701
Post by moviePig
Post by BTR1701
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
AMERICAN PEOPLE: We demand more cops to stop the exploding crime!
BIDEN: Best I can do is 10,000 new IRS agents.
Huh, I thought the American People were "Defund the Police!"...
No, that's just a very small number of radical Marxist leftists and
politicians who pander to them that want that. Go to South Central and
ask any black person who isn't a gang-banger if they want more or less
cops in their neighborhoods. You'll be surprised, although you ought not
to be.
Derpshit knows full well what "defund the police" refers to, but instead
chooses to L I E and toe the party line about what it doesn't mean.
Derpshit, unfortunately, can't stop lying. It's not as if a right wing
dipshit like himself ever has the truth on his side.
Rhino
2021-10-14 21:33:27 UTC
Reply
Permalink
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
What about my automatic transfers from savings to checking to pay my bills?
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
If they are understaffed, I expect this will be an excuse to hire many
thousands of additional people to handle all the extra work. This has
the added benefit (for the union) of increasing the amount of union dues
they collect and the amount of "activism" they can do with the
additional money. The effect on taxpayers will be far less wonderful but
the bureaucrats really don't care about that: they just want to build
bureaucratic empires and wield power.
--
Rhino
anim8rfsk
2021-10-14 21:48:48 UTC
Reply
Permalink
Post by anim8rfsk
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is whenever they rail against millionaires and
billionaires, they’re really coming for you.
The IRS should spend less time on grandma's $600 transactions and more time
on the president's son selling $500,000 finger paintings.
So my bank is going to have to report my Social Security direct deposits?
Every single month?
That's not a purchase.
It's not about purchases!
Right. The headline says purchases but the article said transactions.
It's proposed that banks report transactions over $600. A bank wouldn't
know the purpose of the transaction, just the accounts that were
cleared.
Post by anim8rfsk
What about my automatic transfers from savings to checking to pay my bills?
That's not a purchase either.
Are they going to add more staff to handle this influx of new data?
It's my understanding that the IRS is severely understaffed to be able
to catch all of the current tax cheats so I'm sure this influx of new
information is going to help the currently overworked staff do their
jobs.
Yeah, it may get included in the bill but there's no way the IRS has
enough staff to monitor this. I'll have to ask my nephew-in-law who
works in the LA office. Or at home, depending on the status of requirements.
--
“The last thing I want to do is hurt you, but it’s still on my list.”
chromebook test
2021-10-14 19:48:13 UTC
Reply
Permalink
Post by BTR1701
Pelosi confirms IRS monitoring account deposits of $600+ will be in
reconciliation bill.
https://twitter.com/fiorella_im/status/1448170332955811841?s=21
The lesson here is
"Diamonds are forever, but not forever yours."
https://groups.google.com/g/rec.arts.tv/c/Z1m9uHql1es/m/ylJIjW2zAQAJ
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