Red flag? What do you mean? Are you referring to the $600 annual limit that's supposed to go into affect next year? I think it's a law, not a "red flag".
The Following User Says Thank You to ScottieBoi For This Useful Post:
It is the state you made the account in. Must be VT, MA or IL? But the flag will never go away. Once you hit the federal threshold of 20k and 200 transactions or possibly sooner your account will be limited to collecting more funds indefinitely until you supply a tax number.
As of January 1st 2022, the federal threshold will be $600
The Following User Says Thank You to yankee For This Useful Post:
you can sell something around the house and exceed $600,but IRS does not expect you ti turn a profit if y ou are selling something you bought new and sold as used.
you can sell something around the house and exceed $600,but IRS does not expect you ti turn a profit if y ou are selling something you bought new and sold as used.
We should meet up, and discuss this over a cup of Green Tea with Honey added or Stevia. Whichever you prefer
__________________ What good is it for a man to gain the whole world, yet forfeit his soul?
The Following User Says Thank You to BlackLion For This Useful Post:
600$ or 6000$ what does it matter? Unless you are stealing tax ids and wanting to burn them, the thresholds are irrelevant. Maybe me and a handful of other USA people are in the minority. But, i pay my taxes even when it's NOT under my tax id.. eg.. when it was stealth, why? well, because some day i want to get a SS check and if you ever want a loan or a home, you're gonna need to show having a real job. oh and it's the proper thing to do.
600$ or 6000$ what does it matter? Unless you are stealing tax ids and wanting to burn them, the thresholds are irrelevant. Maybe me and a handful of other USA people are in the minority. But, i pay my taxes even when it's NOT under my tax id.. eg.. when it was stealth, why? well, because some day i want to get a SS check and if you ever want a loan or a home, you're gonna need to show having a real job. oh and it's the proper thing to do.
It matters because when you hit that threshold, you have to confirm your identity. That's the entire concern.
$600 per month or per year 
Re: $600 per month or per year 
