Business
App payment confusion causes IRS to delay $600 sales reporting threshold — again on November 21, 2023 at 6:00 pm Business News | The Hill

Taxpayers and gig workers who use apps such as Venmo and Paypal to make money selling personal goods and services don’t have to worry about the new $600 threshold for reporting sales on form 1099-K to the IRS this year.
Confusion about the new rule among taxpayers and payment companies, along with operational problems relating to unnecessary paperwork, have once again caused the agency to delay the requirement, initially passed in 2021 as part of the American Rescue Plan (ARP).
The threshold for tax year 2023 will remain at $20,000 and more than 200 transactions, the same as it was last year, IRS officials told reporters Tuesday. Next year, the IRS expects to enforce a $5,000 limit as a transitional threshold on the way down to the $600 required by law.
The ARP originally required apps and online marketplaces such as eBay and Ticketmaster to report payments of more than $600 for the sale of goods and services on a Form 1099-K starting in 2022. The forms then get sent to taxpayers and the IRS.
But people are having trouble differentiating between sales made for personal commercial gain, which are taxable, and payments made to friends and family for personal expenses and transfers, which are not, officials said.
“The Form 1099-K could be sent to anyone who’s using payment apps or online marketplaces to accept payments for selling goods or providing services. This includes people with side hustles, small businesses, crafters and other sole proprietors,” the IRS said in a Tuesday statement. “However, it could also include casual sellers who sold personal stuff like clothing, furniture and other household items that they paid more than they sold it for.”
“Reporting requirements do not apply to personal transactions such as birthday or holiday gifts, sharing the cost of a car ride or meal, or paying a family member or another for a household bill. These payments are not taxable and should not be reported on Form 1099-K,” the IRS says.
There’s also confusion about what to do if items are sold at a loss, which shouldn’t be taxed but can still generate forms to be sent out to taxpayers, leading to a potential mess of paperwork.
“Selling items at a loss is not actually taxable income but would have generated many Forms 1099-K for many people with the $600 threshold. This complexity contributed to the IRS decision to delay the additional year to provide the agency time to update its operations to make it easier for taxpayers to report the amounts on their forms,” the agency said.
Taxpayers selling items at a loss are supposed to “zero out” the payment by reporting it on both their tax return and on Form 1040, Schedule 1.
“This will ensure people who unnecessarily get these forms don’t have to pay taxes they don’t owe,” the IRS said.
Officials said the agency has the authority to unilaterally make these changes in implementing the law, citing “broad discretion” provided by the Internal Revenue Code in administering the tax law.
They did not give an estimate of how much additional revenue the government is expected to receive as a result of the lowered threshold.
In order to be compliant with the $600 threshold, which was supposed to take effect this year, companies offering payment apps and sales platforms have been asking customers for their personal tax information, leading to some distress.
The IRS is in the middle of the largest overhaul to its daily operations in decades, a result of an initial $80 billion funding boost to be spent over the subsequent decade as a provision of the 2022 Inflation Reduction Act.
That funding increase has since been scaled back by about $20 billion a result of Republican opposition, but the operational overhaul is continuing. Further cuts to the additional funding could bear out as part of the appropriations process next year, as well.
The overhaul includes an online tax filing system that could effectively replace many pieces of private software designed to help people file their taxes. The system is set to debut in 2024 with a pilot program.
“The IRS will explore providing taxpayers the option to file certain tax returns directly with the IRS online,” the agency said as part of its strategic operating plan for the funding boost.
Business, Personal Finance, 1099-K, american rescue plan, Form 1099-K, IRS, IRS funding boost Taxpayers and gig workers who use apps such as Venmo and Paypal to make money selling personal goods and services don’t have to worry about the new $600 threshold for reporting sales on form 1099-K to the IRS this year. Confusion about the new rule among taxpayers and payment companies, along with operational problems relating…
Business
Why 9 Million Americans Have Left

The Growing American Exodus
Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets
Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.
Health Care Concerns Drive Migration
America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad
Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.
Tax Burdens and Bureaucracy
US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.
The Digital Nomad Revolution
Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream
The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.
Business
Will Theaters Crush Streaming in Hollywood’s Next Act?

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back
Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.
Industry Pulse: From Crisis to Renaissance
On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.
Blockbusters Lead the Culture
Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.
Streaming’s Limits and Studio Strategy
Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams
As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.
For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.
Business
Why Are Influencers Getting $7K to Post About Israel?

Influencers are being paid as much as $7,000 per post by the Israeli government as part of an expansive and sophisticated digital propaganda campaign. This effort is designed to influence global public opinion—especially among younger social media users—about Israel’s actions in Gaza and to counter critical narratives about the ongoing humanitarian situation.

How Much Is Being Spent?
Recent reports confirm that Israel has dedicated more than $40 million this year to social media and digital influence campaigns, targeting popular platforms such as TikTok, YouTube, and Instagram. In addition to direct influencer payments, Israel is investing tens of millions more in paid ads, search engine placements, and contracts with major tech companies like Google and Meta to push pro-Israel content and challenge critical coverage of issues like the famine in Gaza.
What’s the Strategy?
- Influencer Contracts: Influencers are recruited—often with all-expenses-paid trips to Israel, highly managed experiences, and direct payments—to post content that improves Israel’s image.
- Ad Campaigns: State-backed ad buys show lively Gaza markets and restaurants to counter global reports of famine and humanitarian crisis.
- Narrative Management: These posts and ads often avoid overt propaganda. Instead, they use personal stories, emotional appeals, and “behind the scenes” glimpses intended to humanize Israel’s side of the conflict and create doubt about reports by the UN and humanitarian agencies.
- Amplification: Paid content is strategically promoted so it dominates news feeds and is picked up by news aggregators, Wikipedia editors, and even AI systems that rely on “trusted” digital sources.
Why Is This Happening Now?
The humanitarian situation in Gaza has generated increasing international criticism, especially after the UN classified parts of Gaza as experiencing famine. In this environment, digital public relations has become a primary front in Israel’s efforts to defend its policies and limit diplomatic fallout. By investing in social media influencers, Israel is adapting old-school propaganda strategies (“Hasbara”) to the era of algorithms and youth-driven content.
Why Does It Matter?
This campaign represents a major blurring of the lines between paid promotion, journalism, and activism. When governments pay high-profile influencers to shape social media narratives, it becomes harder for audiences—especially young people—to distinguish between authentic perspectives and sponsored messaging.

In short: Influencers are getting $7,000 per post because Israel is prioritizing social media as a battleground for public opinion, investing millions in shaping what global audiences see, hear, and believe about Gaza and the conflict.
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