If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty::A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty.
Personally I think it fair enough that government tracks larger undocumented transactions, but maybe the 600 is a bit low a threshold not to affect common people too much.
I see your point, but I am from Northern Europe, and “governmental overreach” has a very different meaning to me than this. Especially the tracking side seems absolutely understandable for larger sums, but I am in favor of a heavy, regulating government, so I believe there are ways to make that threshold and rules as to who and why has to actually get taxed for the transaction, a fair enough and just construct among others very much needed.