Posted on 05/11/2010 1:18:28 PM PDT by Andrea19
...One of the most Orwellian of these nineteen new tax hikes is something called the "codification of the economic substance doctrine." This new law gives blanket authority to the IRS to deny to taxpayers perfectly-legal tax deductions and tactics. The only standard the IRS must assert is that the action was done merely to lower the tax burden (as if that's a bad thing), and not for any economically-substantial reason...Now, the IRS has developed a new tax form ("Form UTP") which compels companies to disclose tax positions which are or might be red flags in an audit.
Yes, you read that correctly--companies will now be required to red flag themselves for an audit...
(Excerpt) Read more at atr.org ...
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Next they’ll be charging you “imputed” income tax when you cut your own hair or do your own home repairs.
The day is quickly coming where Dagney Taggart will choose, correctly, to join John Galt at the gulch.
They probably will.
The whole $(#( @)#)@() $*@*#**!! tax code is put together for non-economically substantial reasons. It's largely a kludge of tax breaks for whoever bribed the congressmen the most. Burn the who thing to the ground and either (not both) put in a single tax rate no-deduction income tax or a national retail sales tax.
So, why don’t they confiscate Gates, Buffets, etc wealth and give them a ‘’guarenteed’ gov’t bond or,,,,just dig up Stalin and put him in charge??? More ya think about it, simpler it gets, Gomer.
I worked for the IRA VITA (Volunteer Income Tax Assistance) program when I was an Army officer. I helped soldiers figure out the insanity of US tax code, which can be especially difficult for the soldier.
During my training, IRS representatives encouraged every citizen to take advantage of every LEGAL deduction and credit.
Strange how things change.
Is this Scrappleface?
IT’S NOT??!?!?!?!?!?!??!!!????????
read
“During my training, IRS representatives encouraged every citizen to take advantage of every LEGAL deduction and credit.”
During your training, the IRS employees still demonstrated a profound understanding that their employers were We the People.
that they have forgotten that..is the fault of We the People...
they presume their employers are the elite in DC....
Flash, girl...
This is old news measured by years.
Most people might not know this but deductions are a privilege that can be revoked at any time by the IRS even if the deductions you have applied for can be substantiated with actual evidence. Once that privilege is revoked any 1040 confession form you have filed will turn you into a tax cheat.
Dickheads. I take the standard deduction, because my mortgage balance and rate are low enough that my mortgage interest is below the standard deduction, there’s less paperwork, and nothing they can question. Are they going to give me crap now because I’d be worse off if I itemized, so I should do that?
Besides, we live our lives, whereas they work for the government. What emboldened them to presume they’re smart enough to know the difference in the first place? Similar to my take on appropriate business deductions. If the IRS were as savvy about which ones were and were not necesssary as people who have to show a profit at the end of the year, they’d be DOING that instead of leaching off those of us who do.
>The only standard the IRS must assert is that the action was done merely to lower the tax burden (as if that’s a bad thing), and not for any economically-substantial reason...
Sometimes you think the guy who flew his plane into the IRS building was right... this is equivalently saying “yeah we have rules, but even if you follow them we still get your money.” I mean, with the above they could ‘get you’ if you went shopping for the cheapest [yet serviceable] item you could find because by buying a cheaper item you are paying a lower sales tax.
I thought Kelo was bad; but that statement... we REALLY should kill these thieves. (And before whiny-asses complain; do you, or do you not, have a right to private property? This is really an abridgment of that right, if it exists, under the threat of government violence.)
Saul Alinsky is smiling from the depths of hell.
As a VITA volunteer I learned to hate the IRS more than any foreign power that could attack the USA.
Colonists revolted against far less intrusion.
It’s way beyond time to eliminate the IRS any way required.
Without even getting the same right against self incrimination that terrorists enjoy.
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