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@ISIDEWITHQuestionseconomy2yrs ago

Should online payment platforms be forced to report all transactions over $600 to the IRS?

In 2022 the U.S. Internal Revenue Service announced that online payment platforms must report all transactions made by individuals that are over $600. The rule would result in online sellers, resellers and gig workers having to report more earnings to the IRS. Under the previous law online platforms had to send reports to the IRS if a vendor earned more than $20,000 and had over 200 transactions. Proponents argue that the rule will force tax cheats to report income. Opponents argue that the rule unfairly targets small businesses and people who sell items on Ebay and AirBnb.

173 Replies

 @ISIDEWITHDiscuss this answer...2yrs2Y

No, private transactions should be kept private

 @ISIDEWITHDiscuss this answer...2yrs2Y

No

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes

 @ISIDEWITHDiscuss this answer...2yrs2Y

No, unless the transaction is considered income

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Yes, but the threshold should be much higher

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes, except for low income citizens

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 @ISIDEWITH submitted…6mos6MO

Telegram Arrest Ignites Debate Over Tech Executives Immunity

Pavel Durov, who founded the online communications tool Telegram, was arrested in France as part of an investigation into the platform’s complicity in crimes including possession and distribution of child sexual abuse imagery.Internet company executives rarely faced personal liability in Western democracies for what took place on their platforms. But as law enforcement agencies, regulators and policymakers ramp up scrutiny of online platforms and exchanges, they are increasingly considering when to hold company leaders directly responsible. That shift was punctuated by Mr. Durov’s arrest over the weekend, raising questions over whether tech executives like Meta’s Mark Zuckerberg also risk being arrested when they next set foot on European soil.For now, tech executives have little to fear, with cases like Mr. Durov’s likely to be outliers, experts said. Historically, companies have been held responsible for a platform’s transgressions, rather than individuals. And legally, the bar is high in the United States and Europe to prosecute individuals for activities at their companies, especially with U.S. laws like Section 230 of the Communications Decency Act, which protects internet platforms from being responsible for harmful speech.Last year, Britain passed an online safety law that can hold tech leaders personally responsible if their company is made aware of content that risks child safety and systematically fails to remove it. Even Section 230 doesn’t apply to some forms of outlawed speech, such as child sexual abuse.“There’s a 30-year arc here,” Mr. McIntyre said. Since the 1990s, he said, tech executives have not typically been held responsible for what users did on their platforms, though that approach is now being questioned by those who want stronger accountability.

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