Meanwhile, they are now requiring people to disclose even $600/yr income gained from side sources. This is down from the previous requirement of mandating it only if one earn $20,000/yr from side sources.
If they only intend to audit the big guys, why are they suddenly requiring people to report a measly $600/yr in side-income while simultaneously massively beefing up the number of auditors?
Have a particularly good yard sale and the IRS is commin’ knocking.
The IRS generates many times more revenue than its operating cost when they audit wealthy taxpayers.
Meanwhile, they are now requiring people to disclose even $600/yr income gained from side sources. This is down from the previous requirement of mandating it only if one earn $20,000/yr from side sources.
If they only intend to audit the big guys, why are they suddenly requiring people to report a measly $600/yr in side-income while simultaneously massively beefing up the number of auditors?
Have a particularly good yard sale and the IRS is commin’ knocking.