News for hackers. Stuff that matters.

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 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...

[ Parent | on HN ]
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.
[ Parent | on HN ]