Question about big beautiful bill and tax thresholds

[kirkland]

Among other things, it aims to restore the tax threshold to $20,000 as it used to be many years ago. For 2025, the threshold is currently $2,500 (and for 2024, it was $5,000). If its passed, will it only apply to 2026 and on? Or also for earlier tax years that have not yet been reported

[solefoodbk]

Wow I didn't know that. Thanks for letting us know! Really!

[rsot]

I think agent actually mentioned this in a thread way back

[kirkland]

Originally Posted by agent006140

do you mean you did not report your sales of previous years?

Lets just say Im a bit tardy on some of my tax filings

[rsot]

Originally Posted by kirkland

Lets just say Im a bit tardy on some of my tax filings

Morning chuckles

[agent006140]

https://www.marketwatch.com/story/go...55?mod=home_ln