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re: IRS to make thieves report value of stolen goods for tax purposes
Posted on 1/4/22 at 4:04 pm to VolsOut4Harambe
Posted on 1/4/22 at 4:04 pm to VolsOut4Harambe
This has always been a thing. How do you think they got Capone?
It's my understanding that people who legally grew pot at the state level has to report all income received and could not legally deduct costs because it was not a federally legal way of making money.
It's my understanding that people who legally grew pot at the state level has to report all income received and could not legally deduct costs because it was not a federally legal way of making money.
0
Posted on 1/4/22 at 4:08 pm to cheobode
quote:
If I only made $5k in income, I wouldn't have to report it. But since I have a job, that I already pay taxes on, anything extra the IRS wants a piece of it.
There are a few problem with your reasoning:
1. The $5K is taxable income to you and by law you must declare all worldwide income as a US citizen under current law.
2. If you work for a business, they are required to issue a 1099 to you if you were paid $600, even in cash. You could run into a problem if this happens.
3. Your one off $5K is not that material but if every single one of us understated out income by "just $5K", that is a huge chunk of money to the government.
4. Tax protestors such as you are cringe as frick. You enjoy the benefits of society, pay your fricking taxes deadbeat.
Posted on 1/4/22 at 4:10 pm to jclem11
quote:
if every single one of us understated out income by "just $5K", that would be awesome.
Posted on 1/4/22 at 4:11 pm to VolsOut4Harambe
Way back at the birth of the modern State, only conquered peoples paid taxes.
Posted on 1/4/22 at 4:11 pm to jclem11
quote:
Tax protestors such as you are cringe as frick. You enjoy the benefits of society, pay your fricking taxes deadbeat.
A lot of the tax system sucks, but you are right on this. I'd bet that 99% of posters on this site don't have a marginal tax rate over 15% becuase they unknowingly utilize all of the tax credits and deductions they bitch about.
Posted on 1/4/22 at 4:16 pm to Big Ole Baw
quote:
A lot of the tax system sucks,
Agreed. I work with it every single day.
quote:
I'd bet that 99% of posters on this site don't have a marginal tax rate over 15% becuase they unknowingly utilize all of the tax credits and deductions they bitch about.
For sure, a majority of this board pays very little income tax but they are all temporarily embarassed Elon Musks. They will have a billion dollar tax bill soon.
It is pathetic.
Posted on 1/4/22 at 4:16 pm to jclem11
quote:
4. Tax protestors such as you are cringe as frick. You enjoy the benefits of society, pay your fricking taxes deadbeat.
How long have you been working for the IRS there Clemmy boy?
If I made only $5k total in income, I wouldn't have to report it.
"The minimum income amount depends on your filing status and age. In 2021, for example, the minimum for single filing status if under age 65 is $12,550. If your income is below that threshold, you generally do not need to file a federal tax return."
I had a side job for a year and it wasn't even worth the $1,500 or so that I made.
My wife and I pay our taxes. Thanks.
Posted on 1/4/22 at 4:19 pm to cheobode
quote:
How long have you been working for the IRS there Clemmy boy?
I don't work for the IRS but I am a taxpayer that reports all my income as everyone should.
quote:
If I made only $5k total in income, I wouldn't have to report it.
That is under the standard deduction but you are moving the goalposts, bud. You originally said $5K as a "side hustle" implying that you have a regular job or other forms of income.
quote:
I had a side job for a year and it wasn't even worth the $1,500 or so that I made.
And that is fricking taxable income chief. That's how it works. Lmao.
quote:
My wife and I pay our taxes. Thanks.
I would not be so sure of that as you have demonstrated a poor understanding of the tax code in this thread.
Posted on 1/4/22 at 4:27 pm to jclem11
quote:
And that is fricking taxable income chief. That's how it works. Lmao.
Yeah, I know that. Sorry I didn't pay my $70 in federal and $30 in state. Where should I mail my checks to?
Posted on 1/4/22 at 4:28 pm to cheobode
quote:
Sorry I didn't pay my $70 in federal and $30 in state.
Poor
An extra $1,500 in income would have cost me, ironically, right around tree fiddy in federal
This post was edited on 1/4/22 at 4:32 pm
Posted on 1/4/22 at 4:30 pm to jclem11
quote:
I don't work for the IRS but I am a taxpayer that reports all my income as everyone should.
Gold star for you!
Posted on 1/4/22 at 4:32 pm to cheobode
quote:
Again, how is anyone going to know if you work extra for cash and don't deposit any of it?
quote:
I made an extra $1,500 one year upgrading and troubleshooting computers
Ummm...maybe by posting about it on a message board which is being constantly monitored by federal agents?
Posted on 1/4/22 at 4:34 pm to texn
quote:
Ummm...maybe by posting about it on a message board which is being constantly monitored by federal agents?
I mean...if they're worried about my $1,500 from 13 years ago...
Posted on 1/4/22 at 4:35 pm to cheobode
quote:
I mean...if they're worried about my $1,500 from 13 years ago...
that P&I been building dawg
Posted on 1/4/22 at 4:36 pm to Big Ole Baw
quote:
that P&I been building dawg
Good luck finding me behind a VPN
Posted on 1/4/22 at 4:37 pm to texn
quote:
Ummm...maybe by posting about it on a message board which is being constantly monitored by federal agents?
Posted on 1/4/22 at 4:39 pm to jclem11
Oh hey, Mr. IRS worker person, I also made $1 billion in 2019 and another $370 million in 2020.
Posted on 1/4/22 at 4:40 pm to cheobode
And I didn't pay a dime in taxes. Come get me!
Posted on 1/4/22 at 4:41 pm to cheobode
quote:
I mean...if they're worried about my $1,500 from 13 years ago...
Last post as you are too smooth brained to get it.
The problem per se, is not your delinquent arse not declaring the $1,500 alone.
The problem is if we universalize your actions, it would cause bigger problems. If you have not noticed, the IRS has made concerted efforts to go after unreported income because so many folks flaunt the laws.
You can run but you will eventually get caught and you cause more crap for everyone else instead of voluntarily reporting all income as is currently the law.
Take a few moments to digest and if you have any other questions, hit me up.
Posted on 1/4/22 at 4:42 pm to jclem11
quote:
Take a few moments to digest and if you have any other questions, hit me up.
I don't have any side income or extra jobs currently and haven't in 13 years. Problem solved.
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