Still think TITNC3: Return of the Iceberg was peak

Boring response:
They don't know, though. They PROBABLY know, but they don't always.

For example, me and my wife are both W2 employees. We get the 1099-* forms for mortgage, student loans, car loans, investments, etc etc. 401k, IRAs, etc etc. Yes, for us, they 100% know what we owe/they owe us.

How many 1099 employees are out there, though? In 2022 (since that's where we have the numbers from), 64.6 million people (in theory, according to this) filed 1099 income.

https://www.statista.com/statistics...er-people-working-independently-frequency-us/

In doing so, they can deduct a bunch of stuff - expenses, mileage, training, etc which the government 100% DOES NOT know about, until you file it with them. My wife used to do this, so we would have to keep track of her mileage to get to each gig, things she bought for her classes, I think a lot of her training was able to be deducted. Technically, restaurant worker tips need to be documented and filed as income, as well. So, cash tips need to be tracked and reported as income to be taxed on.

64.6 million 1099 employees from above, and the total number filed in 2022:

https://www.tigta.gov/sites/default/files/reports/2023-04/202340021fr.pdf

From page 4:
During Calendar Year 2022, the IRS expects to receive about 161 million individual income tax returns
(13 million paper and 148 million e-filed individual income tax returns).

That means about 40% of returns have some 1099 element to them, in theory, to file with the IRS. So, 40% of returns the IRS technically does NOT know exactly what you owe. Not to get political, but a certain EVENT in 2020 only has 37% of eligible .... attendees.... arrive and .... participate.... So, if MORE people than that are needing to file taxes that the IRS needs more information about, I can't respect the meme.

Secondly, to continue the boring train, "fraud implies intent". So, if I was a freelancer doing, for example, CAD training classes for companies, and did one every week of the year, and took two weeks off, now I have 50 1099s to file. If I accidentally file 49, or put my mileage going from my house to one of the trainings at 92 miles instead of 29, that's a mistake. Mistakes happen. The IRS gives ZERO craps about this. If they catch it in an audit, they just say "we now owe you this instead" or "you now owe us this instead".

If I padded my mileage for EVERY course by 10%, "Who's gonna find out!?", or, as a restaurant employee, intentionally filed my cash tips as 40% of their actual value, that's now fraud. THAT'S now a "ruh roh" moment.

But even WITH that, the IRS really doesn't care about that sort of thing. Will they get you for the cash you owe? 100%. Will they likely flag you for a higher risk future audit? Probably, I don't know the exact working of the IRS. The Joe Schmo padding their mileage is the least of their concerns. They won't waste their efforts and legal costs on you, they'll just have their auditor amend your returns and figure out what you owe/they owe.

I'm fun at parties.

How are people shorting BTC?

This is both a "you can do that!?" and "But what vehicle are they using, is there a BTC ETF? are you able to short BTC on coin base et. al.?" question.

 

There are several ways you create $$$ out of Bitcoin going down.
https://www.investopedia.com/news/short-bitcoin/

 

Sooo...flat tax!

 

consumption tax and get rid of everything else!

where's the tea?

 

In the




(Boston accent joke)

 

$3k of FBTC for me today and another 60 game stonks

 

2023 Roth contribution final day

 

My GF hasn't had a job in a year now (long story, multiple surgeries), but she paid for the 2011 Taco we bought and sold, so I've got her $22k + my $40k bonus from last year sitting in the play account. I've been recklessly pillaging it for stocks, vibrating dildos and the occasional mortgage payment or small block of cheddar cheese that seems to cost $17 an oz now.

 

How bout you buy another house and I’ll pay you fair rent money

 

There's several houses for sale in my neighborhood, just buy one of those. You only need $100k down to avoid PMI on a $500k house

 

Wen moass

 

When you don't group a bunch of your shots with an easy to shoot gun all over the target at 7 yards.

 

I only had a few slide up when I tried to shoot more than 2 in a row. 1-2 I kept them within reason. 1-2-3-4-5 by the 4 it was not close

 

Could be worse

 

FIRE SALE
https://www.redfin.com/NV/Sparks/2395-4th-St-89431/home/68033873

 

In the ghetto

Ghetoooo

 

Timed that well

 

I literally searched "Worst places to live near reno
it's where you learn how to steal...and learn how to fight...

On wallllstreeet
https://www.youtube.com/watch?v=2Ox1Tore9nw

 

Boy $RIOT sure does love to jump up $0.50 when Bitcoin goes up $10k....and then fall $2 when bitcoin drops $5K

 

Yep. RSI on the daily is approaching 20 yet no buyers. Crazy. It's so undervalued. Cash on hand is $900M. Current market cap is $2B. It's not trading forward at all. When it does I expect at least $20.