To: laxcoach
The first is for most taxpayers to stop paying into the IRS and not file a tax return.How about if everyone filed an extension as many times as possible, then make them start proceeding against you and then stall until the last minute before paying the whole tax. That could really overburden the system couldn't it?
129 posted on
12/21/2009 9:02:46 AM PST by
WVNan
To: WVNan
"How about if everyone filed an extension as many times as possible, then make them start proceeding against you and then stall until the last minute before paying the whole tax. That could really overburden the system couldn't it?"
You have to pay estimated taxes when you file an extension. You can certainly not pay them but the penalties aren't worth it.
I'm all for the idea of starving the beast. The problem is that most of us can't afford to do it. Even middle class people well on the way to financial security would have problems. Consider a married couple with 2 kids, 6 months of expenses saved in low risk accounts, 30% of their home value paid down.
These are people who pay taxes, but have FAR MORE TO RISK by taking on the IRS than someone with no assets. How do you sell them on the idea that they can take on the IRS, an entity that literally assumes guilt and forces you to prove innocence. The IRS can sieze your assets and salt your wages in the blink of an eye.
So no, filing the maximum extensions won't work. All you are doing is giving the feds your estimated tax payment then waiting longer to get the difference back in the form of a refund.
People setting their exemptions to a maximum and paying the taxes on tax day helps defer the government's income stream. The penalties there are barely noticeable. If they see it happening, I can guarantee they'll change the rules though.
134 posted on
12/21/2009 11:43:01 AM PST by
laxcoach
(Government is greedy. Taxpayers who want their own money are not greedy.)
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