IRS Warns Of New $600 Reporting Threshold January 1st that Will Usher in CBDC

IRS

  by Fox News

The payment apps were previously required to send users a 1099-K form if their gross income exceeded $20,000, or they had 200 separate transactions within a calendar year. But the new threshold is just $600. Critics warn that small businesses and low income and middle-class Americans are targeted. It is a "honey pot for audits." These changes were created by the American Rescue Act of 2021, despite Joe Biden saying that no one under $400,000 would be targeted by his tax plan. Youtube personality Neil McCoy-Ward explained that this scheme is going to be used to bring in central bank digital currency (CBDC) and 87,000 new IRS hires are slated to force the new tax on the people.