If current proposals pass,everyone who does any commerce through their bank account is gonna have to deal with this ... if you run your sales through a bank account that sees $10,000 run through it per year(which includes all of our personal bank accounts) ... it can now be tracked by the irs.
Hairdressers, home health care workers, wrenching on the side, selling petro, etc ...
They will be looking for sources of $ hitting your account that's not linked to a w2 or 1099.
They're already hitting crypto exchanges and making them send out 1099's.
Our world is changing, it's gonna be tough to get $ in and out of the economy without it being tracked.
Face to face $ transactions still good ... just put the cash in your safe.
I had heard that proposal was put aside. It needs to stay dead, hopefully!
