Sen. Kevin Cramer, R-N.D., and seven other senators have signed onto a bill that would repeal the tax threshold for reporting third-party payments.
Under a provision in the American Rescue Plan Act, business transactions over $600 annually would be reported to the IRS by the payment platforms.
The Stop the Nosy Obsession with Online Payments Act, known as the SNOOP Act, would keep the threshold at $20,000 a year for at least 200 transactions.“Small business owners and independent contractors need rescuing from this American Rescue Plan Act provision, which, fortunately, has yet to be implemented by the IRS,” Cramer said in […]
Article Source: justthenews.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.