I don’t even want to look at mine.
Annually a few people take that risk. They're called "Inmates".
“Some may even risk prison rather than pay their taxes. “
Enjoy prison, or paying those fines and interest.
Folks, if you haven’t yet,
figure out what your maximum exemptions on your W4’s can be and set them to that - ASAP.
It’s YOUR MONEY.
On a related note: withholding tax money from everyone's paycheck was always a stroke of genius. If everyone had to actually write a check for -- let's say, $50,000 -- in April, I think people wuld be more conscious of how much they really pay, how much it hurts, and I think there would be more pressure to reduce the cost of government.
Similarly, if the government depended on getting enormous checks once a year, it would be a lot easier for people to protest by not sending it in. With withholding, the best many people can do is just to increase the number of dependants on their W-2. Such a form of protest is not quite so dramatic.
“Not one tax cheat was rejected by the Senate in a confirmation hearing. “
Ummm, several never got that far. They withdrew and paid up.
In answer to Zero's 'Yes we can' slogan, Americans should reply -
WHY SHOULD WE?
No offense but, You must be kidding. Commisar Obama has better things to do than worry about the financial markets. he told us so. He wants the 401k’s to fail it creates more “victims”
The likely reality is that Zero’s realized deficit will be substantially larger than his proposed one. One has to suppose that tax receipts from many millions of newly unemployed will diminish. We will likewise see much lower tax receipts from no longer profitable companies. Capital gains taxes? Who has a gain? Raising spending at this time is risky stupid. Republicans should be preparing to attack Zero’s underestimated deficit. They should raise the spectre of a $2.5 - $2.9 trillion deficit instead of the $1.9 promised. Relying on the untested agitator is a recipe for disaster.
How about this as asuggestion:
Set the number of deductions of your W-4 so that NO income taxes are taken out. Say for 3 months or so. (set $ aside to pay next year of course) Starve the beast!
The only way to have a tax revolt is to send letters to your legislators. Messing with taxes is a no-go.
/sarc
bump
The tax revolt isn’t going to come about from people not paying what they owe - it’s going to be people who have control of their productivity reducing it, and thereby reducing their taxable income. April, 2009 might not show much evidence of it, but I’ll bet quarterly estimated tax receipts for the 3rd and 4th quarter 2009 are going to be substantially down, freaking out the Obamoids just as they are ready to ramp up spending for all these new “stimuli”.
Don’t they have ONLINE access to these? By the time it arrives in the mail, the numbers are very different...
Just use the governments formula for figuring budgets to do your taxes. Lets say you wanted to make $100,000.00 last year but you only made $50,000.00. That would be a $50,000.00 loss so you owe no taxes. Simple.
Actually, most have already made their withholding and quarterly payments in Jan 2009.
The shocker will come from dividend cuts.
Personally, I am retiring a few years early.
I should thank Obama for that. I should take it easy and enjoy life more.
ping
I don’t know what 401(k) losses are supposed to have to do with tax day. No one pays taxes on their retirement account until they take it.