Question - Receiving Funds for parts sold

[440WB]

Are you transactions monitored and taxed?

Not that we "AWARE" of...   Problem would only arise if your annual income tax return was audited by the Government, we have the CRA like your IRS, and you couldn't explain where the money is coming from

Which is exactly how it has always been in the US. We have always been required (as in the law) to submit/claim all income on our tax return regardless of source. Some people intentionally did not reflect sales of personal items and others just didn't realize that was required. And as you said no one was the wiser unless you got audited. Now the IRS wants to crack down on that by forcing banks and other payment processors to submit this info.
All good things come to an end ):

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BIDEN promises no new taxes on anyone making less than $400,000

PUBLISHED WED, APR 28 2021 EDT UPDATED

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Since our Nice President has made this statement with his Pledge

Maybe we dont have to worry no more in the US for tax 

[dodj]

Are you transactions monitored?

Difficult to say...As it turns out Canadians were having there phone location monitored for covid movements by the health dept over the last year or two....so like Alan said...not that we are AWARE of..

[Katfish]

That's really funny that you aren't aware your bank info is monitored.
I'm in a field that requires a security clearance, during my most recent "interview" they asked me about a withdrawal 10 years ago.....

So yeah, they know everything about your finances, probably more than you do about yourself, I couldn't remember the "reason or location" of the transaction, but they sure did......

[70vert]

@440WB
Guess you didn't read my comment that you quoted. This is not a new tax, just additional enforcement measures for compliance to existing income tax rules. I think it is dumb, but has always been the law.

[440WB]

@440WB
Guess you didn't read my comment that you quoted. This is not a new tax, just additional enforcement measures for compliance to existing income tax rules. I think it is dumb, but has always been the law.

My Bad - your right - did not mean to apply to your quote - 

was just throwing it out there
about how ridiculous some of what seems to be going -

Im not worried for I have always claimed internet with personal sales