+x=usr(1536) Posted October 6, 2021 Share Posted October 6, 2021 16 hours ago, batari said: As I understand it, the $600 limit was not focused on online sales like the previous 20k/200 transactions limit was. As an aside to this: the $600 limit strikes me as not at all arbitrary and very much deliberate in how it was arrived at. With various pushes for a Federally-mandated $15/hour minimum wage, anyone who works a full 40-hour week while earning minimum wage will be earning $600 per week (pre-tax), or $1200 per pay period. This means that every time a paycheque is direct deposited, the IRS is notified. Working part-time at minimum wage means a cap of 40 taxed hours in a pay period if you don't want the IRS nosing around in your accounts. 16 hours ago, batari said: It was intended to target gig workers as many don't pay any taxes. How are they not paying taxes? Having done gig work from the end of 2019 throughout last year and into the start of Q2 2021 while I went to school and established my business, every single gig company that I worked for 1099ed me. How someone could escape paying taxes (which is the earner's responsibility, not the employer's) without attracting IRS interest and attendant penalties doesn't make sense. Quote Link to comment Share on other sites More sharing options...
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