IRS new Rule anti Online Money Making
- Thread starter Yugocean
- Start date
I think they need to clarify on this clearly because that is a very small amount that someone can even receive as gift from a few friends and family.These constraints will bring about too much discouragements more especially for those that ave less skills online.
- Thread starter
- #4
Exactly
Just to take money from small earners to enjoy, they will fight handicaps, retired and unemployed who earn online
What's the essence of this? is it for tax payment?
- Thread starter
- #6
Yes, US government now wants to know and get smal income.
That's good provided it will benefit the country so be it
As I live in the U.S., it is not just about people earning online, it is more geared towards making sure that people who do make money and do get income sent to them through online payment providers, that they will be required to make sure that it is reported, and documented. Mainly geared towards those who refuse to document actual earnings, over people who share expenses.
I think it is everywhere and the constraints are getting really tight that people need to declare their income source so that where necessary the deductions will have to be made but i just they are lenient on this as it is not everyone that is making good money online and as for others it might be just gifts from friends or family.
I had no idea about it. It seems that the American citizens have no choice but follow this new rule.
Yeah, it's an annoying law. Though they did decide to delay implementation by a year, due to the lack of ability to submit info correctly and lack of understanding of the law update.
Oh, I understand. It is an annoying law, but I believe that their decision about the new rule is definite. I do not think that they will change it.
Yeah, I heard about that from my friend sometime last year and he told me that they will be taxed for it as well.
That's very small amount of money. For instance that is only $200 monthly. This will greatly demoralise online earning for the unskilled persons. It would have been $600 per month Online earners to be subjected to the tax.
Online business is becoming more sustainable and the prospects is ever increasing. United States government is trying to regulate the sector and know how the online business affects the economy. Secondly, once the government is transparent and accountable, paying tax is ok.