- SoFi CEO Dives Deeper Into Crypto With Bitcoin, Ethereum Rewards by Bloomberg.
- Bamboo Airways Offering Intriguing Status Match by OMaaT.
- Under Biden Plan, The IRS Would Know A Lot More About Your Bank Accounts by Forbes.
- El Al Offering Free Tickets To First Degree Relatives Of Those Who Passed Away From The Tragedy In Meron by Dans Deals.
Deals starting/expiring at the end of today or starting today (view the full deal calendar here):
- American AAdvantage Anniversary Celebration – Play Daily and Win Instant Prizes (Free AA Miles & More)
- [YMMV] Google Pay: Spring Challenge, Earn $30
Deals starting/expiring at end of tomorrow:
- Bank Amerideals/Chase Offers: 10% at Alaska Airlines, up to $31 Cashback
- Chase Offers/BofA: Zoro.com, Get 35% Back Up To $157 Back
- USAA Portal: Shop $100 and Get $20 Bonus Cashback
Popular posts from yesterday:
https://frequentmiler.com/albertsons-safeway-memo-no-more-blackhawk-cards-for-money-services-over-100/
This goes along with my recent comment on posting about the Safeway MCGC deal, but not mentioning the discussions (e.g. reddit weekly MS thread), that these cards can’t be used at WM anymore since last week!
I always loved DoC for being a one-stop for all my needs in this hobby, but finding these separate infos elsewhere will prob gonna make me reassess… :/
It’s in the next recap 🙂
Biden’s America everybody.
I know, right, like, Bamboo Airways, for real?!
I think the IRS dinosaurs are about 20 years late with that measure, as usual. Nowadays, the hot way to avoid taxes and launder money is crypto. It will probably take them another 20 years to catch up to that.
Hopefully the execution of Sofi’s crypto is done well, I suspect the spread will always be in their favor.
A lot of these fintech-ish companies seem to be following the Chinese playbook.
Start a UBER of something app. Add banking, than payments, than search and shopping, than stocks, than crypto, etc. I know some of their Middle Kingdom brethren do texting, social networks, calls, gaming.
One of these guys has got to add sports betting.
They actually are charging a premium Crypro on Bid/Ask like with physical PMs (Precious metals).
I just wished I bought 100 ETC early last month when it was $11ish, only bought $500. It hit a record $55 earlier today.
I just gives me pause that at anytime they could pull a Robinhood on buy/sell or if legislation/SoFi changed – be forced to liquidate at a loss or during the knife drop.
dump ETC and buy ETH on a dip below 3K this upcoming week. nobody is going to use POW when eth 2.0 comes out, etc is a ghost chain
ETC hit record high of $72.47 today.
While nobody may use or care about POW people are still pouring money into ETC.
That said I probably will invest in a few thousand ETH 2.0
ETC hit a record high $142.10. Today.
Not sure why SOFI – but it’s showing not available for purchase on SOFI hopefully it’s temporary.
Will dump after coinbase pro opens up trading soon, just saying eth has a future etc doesn’t. Eth’s ATH was almost 3x ago. ETC was delisted from a lotmof exchanges previously because they were 51% attacked multiple times and it took weeks to withdrawal or make a transaction.
For all the shit we give china about not being a free market, their companies know how to scale and expand.
It would seem balance and transactional data already being reported to Early Warning Services might be reported to IRS, as well.
Now CIA is gonna think we’re money launderers
Lol CIA is going to be calling top MS’ers asking for their secrets
Keep in mind that there’s no official “paper” on this yet, with more questions than answers as to what exactly will be proposed. Idea seems to emanate from two former IRS Commissioners, who say they’re “working with Treasury” and are focused on the “tax gap” (tax evasion). In a February article, they described proposal thusly:
“We have proposed a practical way to fill some of the holes in third party reporting by requiring banks to
provide to the top earning 25% of taxpayers with business income a short annual summary of their
deposits and withdrawals. Almost all these high income business taxpayers use professionals preparers
who could use this information to help prepare accurate returns.”
“Mr. Tuphat, we see you opened 8 Business checking accounts during the year, would deposit between $10k-$50k for ~3-6 months and then withdraw it all. Care to explain? We also see you spent hundreds of thousands of dollars on you business credit cards at a mall but paid all of these bills from your personal checking account.”
As if IRS audits weren’t fun enough….
I just hope they target those over 400k instead of chasing us. Seems like a waste of time and tax payers money if they apply to all.
This reminds me of the Obama administations requirememt to report all purchases businesses made greater than $600 throughout the year. It created so much headache and unnecessary accounting it was voted down by congress one year later.
If this law does pass and continue applying, it will probably be like most government laws. It’s not actually enfoced, except when you least expect it. Just as the TSA does “Random” searches of innocent people at airports, something similar will happen here. Innocent Churners and Doc readers will have all their bank accounts frozen because the government is wondering where (and why) we keep pushing the same 5K in and out of bank accounts, or where that $10,000 check came from (to initially fund a bank account). Governments claim things only apply to top income earners, but it will end up applying to everyone in some capacity.
Current law: A taxpayer making payments IN THE COURSE OF A TRADE OR BUSINESS to a NONCORPORATE recipient aggregating to $600 or more for services in a calendar year is generally required to send a 1099 to the recipient and the IRS.
How are they supposed to know who makes $400k in the first place, when the issue they’re trying to solve is under-reported income?
Let’s be realistic. Even with those of with two dozen bank accounts, aggregate outflows will roughly match up aggregate inflows – any differences is either savings or “deficit” spending.
Most of those two dozen accounts have little activity other than initial funding, requirements, and withdrawal to close.
This would create a lot more headache to keep records of all that though.
Two dozen? Those are rookie numbers!
I predict that the Forbes article about potential IRS overreach will lead to wild speculation and unconditional outrage from commenters while the other three articles will remain unread and ignored.
It’s the only one I clicked on
So you’re saying that people should bury their heads in the sand as to impacts on their bank account and potential tax audits, and instead focus on status match with an obscure airline many have never flown before. I’m not sure predicting that people will read what impacts them while ignoring news on a foreign business is as much of an insight as you may think.
Vy is known to comment trash like that, get used to it
The first Article is highly relevant to anyone on this forum. The rest? Not so much.