New Scheme From IRS: 30 Million Americans Will Be Targeted | Facts Matter
Starting this year, a new IRS rule goes into effect, requiring that “third-party payment networks like PayPal, Venmo, Amazon, and Square issue Form 1099-K when a user receives more than $600 in gross sales from goods and services transactions in a single year. Earlier, the threshold of gross sales was over $20,000.”
This means that previously, if you sold a few things on Amazon or eBay, it wouldn’t really matter. It would be treated the same as if you were running a little garage sale to sell off a few items, and that would be it. You would have had to sell over $20,000 worth of goods before getting a 1099 tax form.
However, starting this year, if you happen to be an American who made more than $600 by selling things online or even doing some freelance work, or by shoveling your neighbor's snow, the IRS will now be putting you under the scope, and forcing you to report this income as if it were an actual business venture.
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Federal Court Issues Major Ruling On Election Integrity | Crossroads
The 8th Circuit Court of Appeals has issued a key ruling against the Voting Rights Act, which will make it more difficult for individuals or groups to sue in order to overturn election laws on issues such as voter ID. The case is now expected to head to the Supreme Court, but represents a major shift in election laws ahead of the 2024 presidential elections.
In other news, Iowa will begin abolishing diversity, equity, and inclusion (DEI) policies at all its state universities. And meanwhile, major investment firms are now dropping environmental and social governance (ESG) investment policies, and are again leaning toward investments that place profits over ideology.
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