1099k new limits

[lymbo70]

I wanted to ask if the new adjusted limit of $600 to get 1099k will apply to 2021 sales or 2022 sales?

[phaz0rz]

Starts next year.

[SaiJin]

Uncle sam really wants money huh?

[james13v]

Originally Posted by SaiJin

Uncle sam really wants money huh?

I wonder why he'd want money. lol

[yankee]

Everyone is really worried about MP but in all reality, guys running multiple stealth accounts will be wiped out by the $600 threshold. MP is a blessing compared to government mandates. I would need to close to 2000 stealth accounts, bank accounts etc.... to operate under that threshold. Im not sure how people are going to work around this without creating big accounts with tax details come January.

[james13v]

Originally Posted by yankee

Everyone is really worried about MP but in all reality, guys running multiple stealth accounts will be wiped out by the $600 threshold. MP is a blessing compared to government mandates. I would need to close to 2000 stealth accounts, bank accounts etc.... to operate under that threshold. Im not sure how people are going to work around this without creating big accounts with tax details come January.

$1,200,000.... jeez. With that kind of money, why not have legitimate corps with tax id's and etc and doing real business on each stealth account.

[yankee]

Originally Posted by james13v

$1,200,000.... jeez. With that kind of money, why not have legitimate corps with tax id's and etc and doing real business on each stealth account.

I do........... for decades.

[cmckim]

Originally Posted by yankee

I do........... for decades.

We only can do so much...