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If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty (gizmodo.com)

submitted 1 year ago by [email protected] to c/[email protected]

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If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty::A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty.

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[+] [email protected] -18 points 1 year ago* (last edited 1 year ago) (34 children)

Fuck scalpers, but I refuse to look at the $600 tax rule as anything other than a way for the government to squeeze money from and spy more on the common people.

Edit: to clarify I'm not rooting for the scalpers, I just don't want this governmental overreach to be put in a positive light just because its also affecting people we rightfully hate.

For those that don't know. The $600 tax rule is a requirement that Zelle, Venmo, etc must report transactions over $600 to the government so they can be taxed. Get a $600 graduation gift from grandma? Taxed. Get $1000 from your roommates to pay rent? You now have to document and show that so its not taxed. Sell a bike (that you ALREADY paid sales tax on using money you ALREADY paid income tax on) for $800, would you look at that its going on the tax form.

[–] [email protected] 28 points 1 year ago (6 children)

Why? Isn't the person selling the tickets for a $600 profit there one squeezing money from the common people?

[–] [email protected] 10 points 1 year ago (2 children)

If corporations paid the way they should the country would be in a lot less money issues than it is.

Here in the UK it's often talked about and people get angry about Bob the builder doing cash only work and not paying his taxes. Just another plan from the government and media to cause in fighting rather than look at the real issue, big corps.

But also fuck scalpers so I'm torn.

[–] [email protected] 8 points 1 year ago

Speculative profits should be heavily taxed, it doesn't matter if it's done by old money that runs the big corporation or by middle class people that are as morally bankrupt. Scalpers and oligarchs are just two strains of the same virus.