Sorry, hipsters.
A recent tweet says it all. “Sam Bankman-Fried: I don’t know where $10 billion went. The Pentagon: We don’t know where $2.2 trillion went. The IRS: You just sent $601.37 don’t forget to report it.”
The Biden administration is recruiting 87,000 IRS agents, allegedly to keep an eye on billionaires. But all appearances are that it’s aiming at the little fish of the gig economy instead.
Taking payments for a side hustle via PayPal or Venmo? Not only is the IRS reminding you those payments are taxable income, it’s deputizing those payment companies to snitch on you.
>
Sorry, hipsters.
>
A recent tweet says it all. “Sam Bankman-Fried: I don’t know where $10 billion went. The Pentagon: We don’t know where $2.2 trillion went. The IRS: You just sent $601.37 don’t forget to report it.”
>
The Biden administration is recruiting 87,000 IRS agents, allegedly to keep an eye on billionaires. But all appearances are that it’s aiming at the little fish of the gig economy instead.
>
Taking payments for a side hustle via PayPal or Venmo? Not only is the IRS reminding you those payments are taxable income, it’s deputizing those payment companies to snitch on you.
(post is archived)