a permanent finger in the wallet of every person who actually earns a living.
The IRS, for years, has known of any time a direct deposit of $1000 is made to y(our) bank account(s). It is checked to see if you paid your taxes on it. And since it's a paycheck, it's linked to your tax id number. The IRS, per-pay-check, already know what you are getting, even it's $442. You pay taxes on that shit son!
What this law does is lower that bracket to include more people in flagging transactions. You know the kind, Billionaires that only work with $600 increments to launder hundreds of millions(/s)
So, let’s say you get paid biweekly. When you get paid, you deposit your paycheck in your bank account (either by Direct Deposit or going old-school with a paper check). Well, guess what? If you make a rather modest amount more than minimum wage then that deposit, even if the balance is zero on the day you make it, will put you over that $600 mark. That means the IRS would now have access to every transaction you make.
Every transaction. Every purchase you make using a debit card. Every check you write (or have the bank make if you use online banking). Every electronic funds transfer. All of it.
IF only there was some way to not have purchase details show up on a bank statement.
The IRS, for years, has known of any time a direct deposit of $1000 is made to y(our) bank account(s). It is checked to see if you paid your taxes on it. And since it's a paycheck, it's linked to your tax id number. The IRS, per-pay-check, already know what you are getting, even it's $442. You pay taxes on that shit son!
Like I said, all this does is make poorer people targeted as well. If it bothers you, which it bothers me, become an active activist and educate people in the public sphere about your concerns. Just make sure you don't embellish or use opinion.
The IRS, for years, has known of any time a direct deposit of $1000 is made to y(our) bank account(s). It is checked to see if you paid your taxes on it. And since it's a paycheck, it's linked to your tax id number. The IRS, per-pay-check, already know what you are getting, even it's $442. You pay taxes on that shit son!
What this law does is lower that bracket to include more people in flagging transactions. You know the kind, Billionaires that only work with $600 increments to launder hundreds of millions(/s)
IF only there was some way to not have purchase details show up on a bank statement.
Good luck finding an employer that pays in cash
laughs in español
I was replying more so to the top half of your comment about checks being deposited greater than $1000
Like I said, all this does is make poorer people targeted as well. If it bothers you, which it bothers me, become an active activist and educate people in the public sphere about your concerns. Just make sure you don't embellish or use opinion.
I see what you did there :P
Yes, if we live in the same country, it applies to both of us, this is why I wrote it the way I did.