danthewolf00
Veteran Expediter
Sad thing is Democrats make Russians look happy....
The Fake News Depot
- Thread starter muttly
- Start date
They just want you to take the vaccine and any other therapeutic be damned according to them. That is why you see these fake stories.
www.zerohedge.com
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Another signature, hand crafted, artisan piece from the Minneapolis StarTribune. It starts off with the obligatory misleading doom and gloom headline and two cutlines. One a quote attributed to nobody. Then two paragraphs about the need to expand the ICU accompanied with irrelevant scare statistics.
The third paragraph lays waste to all that came before. One of the tenets of Turd Journalism is to withhold the truth or some semblance of the truth until very near the end of the article where most readers have moved on to the next headline. How could the editors of such a prestigious rag like the StarTribune allow the truth to shine in the 3rd paragraph?
www.startribune.com
The third paragraph lays waste to all that came before. One of the tenets of Turd Journalism is to withhold the truth or some semblance of the truth until very near the end of the article where most readers have moved on to the next headline. How could the editors of such a prestigious rag like the StarTribune allow the truth to shine in the 3rd paragraph?
COVID-19 surge forcing St. Cloud Hospital to expand ICU, delay other care
"Our hospital is full because of unvaccinated COVID-related patients."
www.startribune.com
So I was watching Fox news last night, and the Five were talking about the IRS rules that are being proposed, and they either dont understand what is being talked about or they are outright lying.
They keep saying that the IRS wants to be notified of any transaction over $600, that is not true. The law already states that if a company pays someone over $600 they must issues a 1099 to the person and send it to the IRS.
What they what is to total the amount of deposits and withdrawals for each account so they can match it up to what is being reported for income. If you show 40k income and have 80k in deposits, that is going to raise a red flag.
They keep saying that the IRS wants to be notified of any transaction over $600, that is not true. The law already states that if a company pays someone over $600 they must issues a 1099 to the person and send it to the IRS.
What they what is to total the amount of deposits and withdrawals for each account so they can match it up to what is being reported for income. If you show 40k income and have 80k in deposits, that is going to raise a red flag.
Don’t some people inherit money that isn't counted as income like life insurance?
Exactly, there are plenty of times when there will be extra money that is deposited but considered non-taxable, that is however very easy to prove.
Now the question is, will there be so many times they ask for documentation that it costs more to enforce the rule that taxes it collects? Only time will tell.
danthewolf00
Veteran Expediter
I agree but you know the people at the top of the food chain will never allow that since they will be the ones who pay more taxes, the screwed up rules benefit them.
That's the 'distraction" talking point. That's the "nothing to see here, move along" talking point. The IRS won't be notified of individual transactions over $600, but they will be notified of total annual transaction amounts of the total amount of money that went in and out of bank, loan and investment accounts if those accounts hold a value of at least $600, or if the total is at least $600 in a year.
They claim it's to prevent the ultra wealthy from having multiple accounts and playing a shell game with their money. But it allows the IRS to compare all money in and out of all of your accounts with the tax return to see if an audit should take place. But it also gives the IRS access to your individual transactions if they want to take a closer look, if your bank account has ever had more than $600 flowing in or out.
Some media outlets have focused on eBay and Etsy sellers, again, as a distraction, noting the current law has a threshold of 200 transactions and $20,000 before the IRS is notified and you have to report that income. The new proposal is $600. So this will prevent those ultra wealthy eBay sellers from avoiding paying taxes on their hidden income, as all of their banking and financial accounts will be added together.
But basically, if you claim adjusted gross income of $50,000 a year but spent & 60,000 on stuff, the IRS wants a closer look at your transactions.
But wait...there's more!
"A different but equally troubling $600 threshold has already been in place.
The American Rescue Plan Act of 2021, signed into law by Biden in March 2021, modified the IRS reporting requirement from $20,000 in aggregate payments and 200 transactions to a threshold of $600 in aggregate payments, with no minimum transaction number. That new rule becomes effective Jan. 1, 2022."
Will the Biden $600 IRS Tracking Plan Affect Small Business?
The new proposal puts the onus on banks, credit unions and other financial institutions, which would be required to report transactions of more than $600 to the IRS.
smallbiztrends.com
The article also claims the $600 threshold has been dropped from the bill - for now. But who knows what's really going to be in this bill? Pelosi has already said they've got to pass it to see what's in it (like Obamacare), but it's a safe bet they'll come back with a different threshold that allows them to snoop in everyone's bank account and monitor nearly every transaction. This would include my 12 year-old granddaughter's savings account.
The people who they are trying to catch in lies with this law are already laughing at it, if they have not already figured a way around it, they will.
This is another one of those 'just open the door a little bit "laws, where they say it's one thing,' It's just two additional pieces of information!", but it opens the door for other things, including abuse. The current law of $20,000 of inflows and outflows and the 200 transaction reporting requirements give the IRS then access to individual transactions to determine if any taxes aren't getting paid. Lowering the threshold to $600 and 1 transaction just gives the IRS access to that many more accounts.
danthewolf00
Veteran Expediter
No as always they are exempt from the laws they frost onto us.Does this cover the house and the senate members
Im sure there info would be sent to the IRS just like everyone else, but they would probably ignore it.
That's pretty funny. The author is whining about how conservatives pounced on the news to cast doubt, but the MSM, including the author's own NYT, said Powell's death proves that its even more important to get the vaccine, especially the booster shots, because if he can die while being vaccinated then people who are unvaccinated have no shot at survival.
This just in...
The Republicans have cheated and stolen the 2022 midterm elections.
That's the narrative they're already putting out there, so get ready for it. CNN touched on it, MSNBC devoted serious time to it, as well as most of the others in the MSM press.
The Republicans have cheated and stolen the 2022 midterm elections.
That's the narrative they're already putting out there, so get ready for it. CNN touched on it, MSNBC devoted serious time to it, as well as most of the others in the MSM press.