Posted on 06/27/2009 8:30:22 PM PDT by vaper69
Operation Dep 9 is a campaign to claim 9 dependents on your taxes to delay the federal government from deducting taxes until the end of the year. It is a legal protest to squeeze the bureaucrats in Washington D.C.
This is a campaign launched by Needs of the Many ... please spread the word.
(Excerpt) Read more at needsofthemany.wordpress.com ...
Good idea but when they run short then they’ll just start taking money out of the Social Security trust fund or printing more. Thieves.
I also think anyone who follows this advice without consulting the type of high priced tax lawyers who can keep one out of prison is being incredibly foolish.
There are plenty of legal ways to starve government. Those who are self employed could consider taking on less work and presumably less taxable income. We could also reduce non-essential purchases to deprive states of sales tax revenue.
The only downside to these activities is that they do not actually reduce government spending. The feds will simply print or borrow more money, and the states will find other methods of creative accounting to burden future generations with the costs of the selfishness of the people of today.
I think that is the plan anyways as the boomers start getting their tax-free retirement money.
I believe that they passed legislation awhile back that if you mistate your dependents and end up owing over a certain percentage of the total, penalties and interest for the entire year kick in (at the least.)
Cut the largest mature hardwood tree on your property that is suitable for firewood, roll 12 to 20 foot of the main log out and put it on the edge of the road right-of-way, add sign: “Will Trade for Carbon Credit and Taking Orders”
IRS Withholding Calculator =>> intro
http://www.irs.gov/individuals/article/0,,id=96196,00.html
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Continue to the Withholding Calculator =>> starts here
http://www.irs.gov/individuals/page/0,,id=14806,00.html
I think that is the plan anyways as the boomers start getting their tax-free retirement money.
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What tax-free retirement money??? All SS is TAXED!!!
I do think you will be subject to a penalty for underpayment. Yes this is legal, as it is not a crime, but there is a tax penalty for underpayment or underwitholding!
There is NO “trust fund” so I would not worry about that issue.
It is IMPOSSIBLE for any institution to lend itself money, therefore, the SS “trust fund” does not really exist at all, and it never has.
Sooner or later, it will ALL be taxable.
The upside is the debt-to-income ratio,
funny thing while researching revenues;
2009 United States federal budget
http://en.wikipedia.org/wiki/2009_United_States_federal_budget
The United States federal budget for fiscal year 2009 was a spending request by President George W. Bush to fund government operations for October 2008-September 2009.
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September 2009? Still Bush’s fault President Øbama and his Democrat Congress 4X the debt
afterall, sounds like most people get a tax refund so it would be sound financial advice to increase the number of your dependents so that horrible thing would not happen again.....
I fully agree that it is STUPID for people to count on large refunds, year after year.
The government does not pay you ANYTHING in the way of interest on your money.
I just want people to be aware of the pit falls if they under pay.
Hey, I am self employed, I FULLY understand tax laws, on that count alone, let alone the fact that I deal in investments and insurance.
Don’t feed the government monster.
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