Tuesday Newsfeed: ♬ Now my advice for those who die (Taxman!) Declare the pennies on your eyes ♬
Posted by on August 9, 2022 in General News
George Harrison @ The Beatles
One, two, three, four
One, two (one, two, three, four!)Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman
Yeah, I’m the taxmanShould five per cent appear too small?
Be thankful I don’t take it all
‘Cause I’m the taxman
Yeah, I’m the taxman(If you drive a car, car)
I’ll tax the street
(If you try to sit, sit)
I’ll tax your seat
(If you get too cold, cold)
I’ll tax the heat
(If you take a walk, walk)
I’ll tax your feetTaxman!
‘Cause I’m the taxman
Yeah, I’m the taxmanDon’t ask me what I want it for
(Ha, ha, Mr. Wilson)
If you don’t want to pay some more
(Ha, ha, Mr. Heath)
‘Cause I’m the taxman
Yeah, I’m the taxmanNow my advice for those who die
(Taxman!)
Declare the pennies on your eyes
(Taxman!)‘Cause I’m the taxman
Yeah, I’m the taxman (yeah, I’m the taxman)
And you’re working for no one but me (taxman!)
Charles C.W. Cooke: Americans Are Correct to Be Instinctively Terrified of the IRS
Imagine raising taxes in a recession to subsidize tax credits for rich people to buy electric cars, other green energy bs that will increase gas prices, making the IRS larger than the Pentagon for more audits, and looking Americans in the eye and saying this will lower inflation.
— Michael Seifert (@realmichaelseif) August 8, 2022
The IRS estimates that errors for the low-income Earned Income Tax Credit account for half of the “tax gap.” There just isn’t enough audit power to close the tax gap without targeting low-income Americans. https://t.co/SgKK1STWH4 pic.twitter.com/mZUgxFIbfC
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
Also curious if the language framing mistakes done on tax returns turning people into “criminal tax cheats” applies to EITC claimants.
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
The average non-business tax return takes 9 hours to do the paperwork and file. Make a mistake somewhere? Uh oh, you’re a “tax cheat.”
The idea that the tax gap is all about people trying to cheat the IRS out of money is absurd. https://t.co/1mUUBgco79 pic.twitter.com/1IzCCdcGti
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
This is true, it’s merely the tax gap for credits. The overall compliance rate with the tax code is in excess of 85%, while the IRS estimates only 50% of EITC payments are in compliance. https://t.co/Ofbx2ITf81 https://t.co/kPeyOQpWiD pic.twitter.com/HDEnlV6NTD
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
In that “underreported income” category are cases like Jonah’s here; for small businesses and contractors, that’s leaving out a 1099. Or, in the case of any amount less than $600, work done where you’ll probably never receive a 1099 anyway. https://t.co/omC7zdUvtY
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
When I was audited the first time, it was legit because I screwed up in not reporting a small amount of money (I’d lost the 1099 for a speaking gig). Fair enough but even so the process was an enormous ass ache. 2/
— Jonah Goldberg (@JonahDispatch) August 8, 2022
The second time, I did nothing wrong. But apparently once you get audited you’re flagged for more audits. Again, I came out fine in terms of penalties etc. But the hassle factor, stress, and frustration was considerable. 3/
— Jonah Goldberg (@JonahDispatch) August 8, 2022
I’d love to ask some of these people saying “unless you’re a criminal, you have no reason to worry” what they think of stop-and-frisk laws or no-knock warrants (I’d much rather be unfairly frisked than unfairly audited) 4/
— Jonah Goldberg (@JonahDispatch) August 8, 2022
Yes, the IRS needs to be able to audit people, but you shouldn’t pretend that one of the biggest invasions of privacy imaginable by the federal government is fine, fun, or cost-free if you’ve “done nothing wrong.” Particularly if you haven’t been audited yourself. 5/5
— Jonah Goldberg (@JonahDispatch) August 8, 2022
What the IRS needs is to focus on *service* (you know, like what IRS stands for) not enforcement. They have millions of unprocessed tax returns and never answer the phones to actually help taxpayers navigate the immense tax code. https://t.co/EXyaJQOB15 pic.twitter.com/Y5lKRxVQCD
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
In my experience as an IRS-certified tax preparer, everyone’s trying their best to comply. It’s just impossible, because the tax code is a mess. But the IRA law has decided to prioritize enforcement over service. That’s exactly backwards. pic.twitter.com/dc6gghrOTi
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
Anyway, try figuring out who’s supposed to claim the American Opportunity Tax Credit or the Lifetime Learning Credit. The qualification guidelines are so long I can’t fit them into one screenshot. Do it wrong? Oh well, you’re probably just a tax cheat https://t.co/AxUJ0CPauk pic.twitter.com/ALaNoRMHjN
— Kevin 👐 Glass (@KevinWGlass) August 8, 2022
~~Many thanks to Maggie and The Universal Spectator for reprint permission.
The post Tuesday Newsfeed: ♬ Now my advice for those who die (Taxman!) Declare the pennies on your eyes ♬ appeared first on Patriots' Soapbox 24/7 News Network.
Posted by Maggie on August 9, 2022 in General News George Harrison @ The Beatles One, two, three, four One, two (one, two, three, four!) Let me tell you how it will be There’s one for you, nineteen for me ‘Cause I’m the taxman Yeah, I’m the taxman Should five per cent appear too small? Be thankful I don’t take it…
Posted by Maggie on August 9, 2022 in General News George Harrison @ The Beatles One, two, three, four One, two (one, two, three, four!) Let me tell you how it will be There’s one for you, nineteen for me ‘Cause I’m the taxman Yeah, I’m the taxman Should five per cent appear too small? Be thankful I don’t take it…