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A comment on Venmo, PayPal and Zelle must report $600 in transactions to IRS. Parent comment

Re:Venmo, PayPal and Zelle must report $600 in transactions ... by bko on Tuesday January 18, 2022 @12:31PM (#29982557)
Do you believe someone with an etsy account selling a few hundred dollars of merch is more likely to be audited than a billionaire?
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Re:Venmo, PayPal and Zelle must report $600 in transactions ... by null0ranje on Tuesday January 18, 2022 @12:42PM (#29982750)
Yes. Turns out, auditing the poor is low-hanging fruit, since the poor don't have the means to fight back.

https://www.propublica.org/article/irs-now-audits-poor-ameri...

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Re:Venmo, PayPal and Zelle must report $600 in transactions ... by missedthecue on Tuesday January 18, 2022 @01:29PM (#29983537)
in this case, the "audit" consists of an automated letter sent to their mailbox requesting additional information. It's not an IRS attorney opening their books and going line by line.
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Re:Venmo, PayPal and Zelle must report $600 in transactions ... by ForgotMyPwOops on Tuesday January 18, 2022 @05:33PM (#29987053)
I have heard that the IRS doesn't have the resources to go after people who can afford good lawyers

Though I was referring more generally to things like known pedophiles getting slaps on the wrist by the feds, the spouses of politicians making millions insider trading, politicians not facing consequences for deleting public records, ect

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Re:Venmo, PayPal and Zelle must report $600 in transactions ... by telxosser on Tuesday January 18, 2022 @12:37PM (#29982671)
<single mother> :~~~(
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