Because the rich are obviously going to use this as a loophole to give money to each other tax free, now that NFTs and Bitcoin have kinda tanked. They need a new way to legally pay for illicit goods, and tips are pretty good for that. Do these tips even need to be reported if they aren’t taxed anyway? Just like gifts under $10k don’t need to be reported.
Because the rich are obviously going to use this as a loophole to give money to each other tax free, now that NFTs and Bitcoin have kinda tanked. They need a new way to legally pay for illicit goods, and tips are pretty good for that. Do these tips even need to be reported if they aren’t taxed anyway? Just like gifts under $10k don’t need to be reported.
That’s an interesting angle for sure