Posted on 06/18/2022 6:18:45 AM PDT by where's_the_Outrage?
The tax code is the work of fiends and criminals and is a national disgrace.
idn’t nobama have something to do with screwing us via IRS?
I guess you have never been self employed or run a business. Income is not the amount of money that you "took in" it is the amount of money left after you subtract what went out from what came in. Just imagine this case. You cash a $1,000 check for somebody and give them 10 $100 bills. How much income did you make? Zero.
The reason that income taxes require voluminous returns is that determining income isn't simple. Accounting for expenses is complicated, and the government always wants to adjust the system so that they benefit from the ordinary economic decisions people make.
The best solution is less taxes. The smaller the government is, and the less of life it is involved with the smaller the amounts of money it needs to operate. The next best improvement is excluding as many kinds of activity as possible from taxation.
Your scheme would require you to maintain records of every time you sell anything. So if you sold your neighbor your old lawnmower for $50.00 you need to record that and pay the appropriate tax on it. And since you want to tax inheritances, you want to tax people twice on the same money. That means you need to track gifts between family members, because money given before you die would not be taxed but your family's inheritance would be. Which is why there is a gift tax in the USA.
The complexity in taxation comes from determining income, not calculating the tax.
Beware of sales taxes, because they are just income taxes in sheep's clothing.
As soon as sales taxes become a major source of revenue the government will tax the "use" of products you didn't pay the sales tax for. Most states with a sales tax require you to pay that tax on anything you import into the state, or buy without paying their sales tax.
And then states go after services, wanting sales taxes to apply to services as well as goods, or wanting the sales taxes to apply to transactions where goods are provided with a service. That's just the back door to a tax on the gross receipts of self employed people.
You forgot the part about the need to pay the gift tax on the value of the property you gave them.
I 1) plan my tax payments so I don’t depend on refunds, and 2) always send paper returns.
I worked for the IRS in the 70’s when all the returns were paper, and even with 70’s staffing we got ALL of them processed. BTW, I was paid $500 per month back then. I think most of them make $3,000 to $4,000 a month now.
The Peter Principle is the reason for the problem. They promote the dumbest idiots to management, and they are also the laziest. Add to that is the fact most people today (especially government employees) don’t want to work, just gib me dat check!
This looks like official propaganda to 1) force everyone to file returns online, and 2) hire more IRS agents. It’s every American’s right to pay them as little as possible, and as slowly as possible. Sending in a paper return slows down the process.
Refund? What is this ‘refund’ thing? Some of us just pay, and pay, and pay.
Yes, Democrat Presidents always find a way to weaponize the IRS (and other agencies) to attack Republicans and other conservatives.
The media always covers and conceals it for them too.
Wrong.
I have run a business through the whole gamut of C corp, S corp, and private ownership. And been self employed.
You present a false premise.
Sales and inventory are not income. In fact, you are in agreement with the IRS which now demands 1099s for sales. You would not pay taxes on sales. You would on the amount of money you profit.
I know from experience that you can hide income with S and C corp gimmicks. Maskingtrue income as dividends at lesser tax rates, avoiding Social Security and Medicare taxes using alternate income schemes, etc. You can also hide income- in-kind by using your company car etc. for personal use but charging it off to the company.
Sorry, but you are no different from the other beneficiaries of tax laws. You just don’t want to lose your benefits.
Since you claim to be someone with a lot of business experience please tell the rest of us how you will determine the income for something as simple as a proprietorship on your simplified tax form with just 4 entries.
What is the income amount for a business that took in $100,000 in payments and spent $50,000 on materials?
What do you report on your simple form?
I always figure out the penalty, but never pay it, I choose to let them have to expend the effort.
I don’t make that much money, retired, so the penalty is generally $50 or so.
The expenditure of manpower to bill me probably costs more than the fine.
I do everything I can to Fuk the Democrat run government.
You tell me.
You are the one presuming yourself the expert.
Got it. Another safe harbor is if the tax owed after payments and credits is $1,000 or less there is no penalty or interest. Maybe you're in that situation. Computers generate the bills so there is no discretion involved.
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