Posted on 09/19/2005 3:46:20 PM PDT by pigdog
I will have the wife sharpen the pitchfork. Yes. I actually have one(two actually).
I'm surprised that underreporting income is the biggest percentage, I would have just said people who just did'nt file were the biggest, I know a lot of people who could'nt afford their tax bills who just did'nt file, or "forgot", or figured that they'd never get caught, because only the "rich" get audited. (You can guess their political leanings...)
I'll admit it, with some shame, I let a couple years go unfiled in my foolish and spendthrift youth, and I hired a tax attorney two years ago to address it, it weighed on me like a lead weight, the thought of getting nailed for it!Granted, it was only a matter of less than $2000, but still, it's the IRS. I lived in dread of a letter from the IRS in my mailbox! I can't imagine the guilt I'd carry if I lied about my income - I feel guilty sometimes writing legitimate things off, but that's what the IRS has done to us. It was a HUGE relief to sign and mail the last check for penalties and interest, knowing I'd finally corrected something really stupid I'd let slip too long. How can people who may owe tens or hundreds of thousands sleep at night?
Besides, I've always wondered, I know a LOT of people who simply did'nt file, for one reason or another, some one year, a couple multiple years, how is it they never get caught? I got away with it for a long time - my unfiled returns were around for years, all they had to do was match up W2s they have on file with my filed returns, and see the hole. Maybe their "shortfall" would be less if they looked at holes like that? I don't mean to thrown anyone under the bus by suggesting that, but let's be honest - I would have been nailed too, and deserved it. Seems to me, it's a simple database search?
Plus, i took advantage of the tax amnesty, it would have been stupid not too. My lawyer told me, after the last amnesty was over, the IRS would be getting tougher...dunno if they have been, lots of people I know who did'nt file havent been caught yet.
Yes, taxes are too high, but you gotta pay them - the risks otherwise are too scary, especially later on, when you start getting into assets they can seize!
And this is just on what they can determing from audits and erroneous tax returns. It does not include one dollar of taxes evaded by the underground cash economy or in illegal trade.
If you would like to be added to this ping list let me know.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.
H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.Refer for additional information:
Well said.
Good for you. You were convinced by a tax lawyer that only had your best interest at heart.
The risks are determined by each individual. If you are planning on running for office, you can explain away a tax misunderstanding fairly easily (play dumb). If you are running against a Dem, photographs of you with a young Laotian boy will turn up anyway.
With respect to asset forfeiture,if you simply invest in distilled spirits and vinyl, you will be alright. Jack Daniels and great blues/jazz :)
This fits in with the idea of compliance costs which are about a like amount but not included in this figure.That's because the "like amount" of compliance costs doesn't exist when you aren't complying...Unless you can provide some proof of your words for a change.
Compliance cost are embedded in what you buy. Even those who don't pay taxes buy things and, therefore, pay the compliance costs of all those who do that are involved in making, distributing, and selling what they buy.
As if that will dent your skull.
Gross income being the sale price. Show me the cost breakdown of the compliance costs as a percentage of gross income of any one company, specifically the compliance costs that would be eliminated by a sales tax...Just one company.
Do you agree that it cost money to plan for paying taxes, record the income made, the taxes withheld, the deductions taken, maintain those records, compute the taxes, and file them? Is there any cost in that?
Do you agree that it cost money to plan for paying taxes, record the income made, the taxes withheld, the deductions taken, maintain those records, compute the taxes, and file them? Is there any cost in that?It doesn't matter what I agree with. It's not about me.
Show me the percentage of gross income for just one company, specifically the costs that would be eliminated by a sales tax...
Then why are you interested in an answer to your question?
That's a good illustration of some of the reasons we need the FairTax. There are a lot of taxpayers who have similar burdens and concerns due to the income tax system.
Always the optimist, eh?
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Good point..........
FRegards,
Were it only that simple ...
I think we are getting more government than we can afford.
I'm proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.
--Arthur Godfrey
Don't just blame the WB's for the problem. The U.S. Citizens who employ the illegal aliens are legally required to withhold the taxes. Obviously they do not. In additon, how many stay-at-home mom's neglect to tell the IRS about the income they earn taking care of other people's kids? The underground economy is hugh, which is why we need to scrap the current income tax for a national sales tax.
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