Americans for Tax Reform President Grover Norquist discusses Biden's latest IRS push and the impact it will have on independent contractors and those who have a 'side hustle.'
They stuck this in that rescue plan, March 11 last year when they said, oh no, we're just giving money to people. Inside was this incredibly increased reporting device for, PayPal, Airbnb, Venmo, Etsy, Facebook Marketplace, all of these places that you buy and sell things online. Well, they'll be reporting $600 one time to the government.It will affect your taxes this year.
They're swamped with what they have. And now this new thing has been added on. It will cost you more to do your taxes because if you have a tax preparer who charge it by how much paperwork there is, this is all new paperwork that they're adding in.…People who have a side hustle, you know, the independent contractors, all of these people are being swept up. Those people cannot be unionized. Yeah, the administration doesn't like them. They just shouldn't make them all go away.
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