Quote:
Originally Posted by robj144
I believe even before this change, you are supposed to pay tax on everything. If you didn't, you needed to report it on your income tax return which no one does.
We've been kind of using a sort of ignorance "loop hole" to this point.
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This is correct. You were always liable for the tax. Most people don’t report it, either because of ignorance or because they could get away with it.