{"id":522160,"date":"2022-12-06T00:58:33","date_gmt":"2022-12-05T21:58:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/team-biden-is-using-the-irs-to-attack-the-gig-economy\/"},"modified":"2022-12-06T00:58:33","modified_gmt":"2022-12-05T21:58:33","slug":"team-biden-is-using-the-irs-to-attack-the-gig-economy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/team-biden-is-using-the-irs-to-attack-the-gig-economy\/","title":{"rendered":"#Team Biden is using the IRS to attack the gig economy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a948145d2e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a948145d2e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/team-biden-is-using-the-irs-to-attack-the-gig-economy\/#%E2%80%9CTeam_Biden_is_using_the_IRS_to_attack_the_gig_economy%E2%80%9D\" >&#8220;Team Biden is using the IRS to attack the gig economy&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CTeam_Biden_is_using_the_IRS_to_attack_the_gig_economy%E2%80%9D\"><\/span>&#8220;Team Biden is using the IRS to attack the gig economy&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Sorry, hipsters.<\/p>\n<p>A recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alifarhat79\/status\/1598379304534085643\">tweet<\/a> says it all.\u00a0\u201cSam Bankman-Fried: I don\u2019t know where $10 billion went. The Pentagon: We don\u2019t know where $2.2 trillion went. The IRS: You just sent $601.37 don\u2019t forget to report it.\u201d<\/p>\n<p>The Biden administration is recruiting 87,000 IRS agents, allegedly to keep an eye on billionaires. But all <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earances are that it\u2019s aiming at the little fish of the gig economy instead.<\/p>\n<p>Taking payments for a side hustle via PayPal or Venmo? Not only is the IRS reminding you those payments are taxable income, it\u2019s deputizing those payment companies to snitch on you.<\/p>\n<p>The federal government can lose trillions, as a recent Pentagon audit noted, and nobody goes to jail. Sam Bankman-Fried can lose billions and (so far at least) be treated as a darling by members of Congress to whom he donated. But <em>you\u2019re<\/em> expected to keep perfect records, and the corporate\/government machine that characterizes early-21st-century American governance will be sure to keep close tabs on <em>you.<\/em><\/p>\n<p>As Leona Helmsley once allegedly said, taxes are for the little people. And you, hipsters of the gig economy who probably voted for President Joe Biden, <em>you\u2019re<\/em> the little people.<\/p>\n<p>But wait \u2014 it gets worse. People get payments through these companies for all sorts of things, like gifts from family members, expense reimbursements from employers, even money from friends for medical expenses, etc. Venmo and PayPal may \u2014 and sometimes undoubtedly will \u2014 mischaracterize these tax-free gifts as something taxable.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-637.jpg?w=1024\" alt=\"The Internal Revenue Service (IRS) building stands on April 15, 2019 in Washington, DC.\" class=\"wp-image-24903061\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-637.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-637.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-637.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The IRS is taking away the art of the side hustle by making PayPal and Venmo payments taxable income.<\/figcaption><figcaption><span class=\"credit\">Zach Gibson\/Getty Images<\/span><\/figcaption><\/figure>\n<p>Well, no problem, you can just tell the IRS that Venmo is wrong, right?<\/p>\n<p>Oh, no. That would be too easy. According to the IRS: \u201cThose who receive a 1099-K reflecting income they didn\u2019t earn should call the issuer. The IRS cannot correct it.\u201d<\/p>\n<p>So if Venmo or PayPal mischaracterizes your nontaxable gifts as taxable income, you have to try to get Venmo or PayPal to change things. Good luck with that. You may wind up having to pay an accountant hundreds or thousands of dollars to straighten out the mess or face an IRS audit.<\/p>\n<p>The threshold used to be $20,000 but was lowered to $600 as part of the Democrats\u2019 American Rescue Plan Act. (No Republicans voted for this monstrosity.) The legislation tightened the screws on the little guy, and that was no accident.<\/p>\n<p>As The Post editorialized in June, \u201cThink about this the next time Elizabeth Warren and AOC whine about the wealthy not paying their share. Yet the legislation they passed goes after hobbyists and little folks trying to earn a few bucks in various side hustles. It\u2019s only going to punish the US economy a bit more: Some will have to charge more to make the work worthwhile; others will quit now that it means more paperwork and taxes.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-639.jpg?w=1024\" alt=\"CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building on Capitol Hill December 8, 2021 in Washington, DC.\" class=\"wp-image-24903062\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-639.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-639.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/reynolds-biden-gig-economy-639.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Disgraced crypto titan Sam Bankman-Fried is treated as a darling by some members of Congress.<\/figcaption><figcaption><span class=\"credit\">Alex Wong\/Getty Images<\/span><\/figcaption><\/figure>\n<p>Why would Democrats do this? It almost seems as if they\u2019re hostile to self-employment and small business.<\/p>\n<p>Well, it seems that way because in fact they\u2019re hostile to self-employment and small business.<\/p>\n<p>You may have noticed that in this era of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a>-media mobbing, people get fired from their jobs when spineless employers are threatened by angry online mobs.<\/p>\n<p>But you can\u2019t get people fired from jobs when they work for themselves. Self-employed people \u2014 and even people with a second income from a side hustle \u2014 are more independent than people who depend on an employer\u2019s paycheck. (Historically, this is why minority groups, subject to bigotry and prejudice in the workplace, have started their own businesses. You can\u2019t be fired for your race or religion \u2014 or, nowadays, your politics \u2014 if you don\u2019t work for anyone to begin with.)<\/p>\n<p>That kind of independence is anathema to today\u2019s Democrats, who have made pretty clear they want everyone under their thumb. Since the pandemic, in which lockdowns gave preferential treatment to big-box stores while brutally punishing small businesses, it\u2019s been a steady grinding down of small businesses and entrepreneurs. (Well, except for the Bankman-Fried sort of \u201centrepreneurs\u201d who make six-figure donations to favored politicians.)<\/p>\n<p>This new rule is just another tightening of the screws. If everyone works for the government or a big corporation that\u2019s in cahoots with the government, everyone is controllable. And for Democrats, that\u2019s not a bug but a feature.<\/p>\n<p><em>Glenn Harlan Reynolds is a professor of law at the University of Tennessee and founder of the InstaPundit.com blog.<\/em>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/05\/team-biden-is-using-the-irs-to-attack-the-gig-economy\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Team Biden is using the IRS to attack the gig economy&#8221; Sorry, hipsters. A recent tweet says it all.\u00a0\u201cSam Bankman-Fried: I don\u2019t know where $10 billion went. The Pentagon: We don\u2019t know where $2.2 trillion went. The IRS: You just sent $601.37 don\u2019t forget to report it.\u201d The Biden administration is recruiting 87,000 IRS agents,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":522161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/newspress-collage-24900828-1670277263622.jpg?quality=75&strip=all&1670259296&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136779,10701,91076,73434,991],"class_list":["post-522160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-5-22","tag-democrats","tag-gig-economy","tag-irs","tag-joe-biden"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/522160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=522160"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/522160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/522161"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=522160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=522160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=522160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}