For the past 40 years, I've taken zero deductions other than the IRS Standard Deduction.

Why? Why don't I take deductions the IRS offers?

Simple. On the off-chance I get audited, I'll just giggle. The result of the audit will reflect I'm DUE a REFUND! The IRS refund must include interest on missed deductions - thus more refunds.

So? Audit me? Please do. Where's my check!

Self report? Nope. Send me as many 1099-K's as you'd like. Audit me as much as you wish. For every penny the IRS believes I owe - they'll spend dollars to collect it.

This new $600 Form 1099-K reporting threshold requirement for third party payment organizations will cost more to implement than it collects. The time to rescind the new legislation is NOW.