It is a problem, but not the problem. The IRS has more than enough resources for administering our income tax system except for examinations to ensure compliance. The need for examinations is a direct result of the complexity of our tax laws. Simplify the laws and the amount of resources necessary to ensure compliance decreases substantially.

What is the definition of income? Economists have a simple definition, the change in wealth over a period of time. Accountants have a simple definition, revenues minus expenses. And then there is the definition according to Congress that requires Sections 1 through 1564 of Internal Revenue Code.

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Posted by Tiger n Miami AU83

Miami

Member since Oct 2007

45656 posts

Posted on 7/11/14 at 10:21 am to Poodlebrain

quote:
It is a problem

Someone agrees.

quote:
Simplify the laws and the amount of resources necessary to ensure compliance decreases substantially.

Wisdom has been unveiled on the poliboard.

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Posted by WeeWee

Member since Aug 2012

40257 posts

Posted on 7/11/14 at 10:29 am to Poodlebrain

quote:
It is a problem, but not the problem. The IRS has more than enough resources for administering our income tax system except for examinations to ensure compliance. The need for examinations is a direct result of the complexity of our tax laws. Simplify the laws and the amount of resources necessary to ensure compliance decreases substantially.

WeeWee's tax plan for 2016

15% personal income tax (first 15k tax free so the poors don't bitch)
15% corporate income tax
2% federal sales tax that can never be raised

quote:
What is the definition of income?

For individuals whatever you are paid minus your first 15k.
For corporations: revenue minus expenses (must be legit expenses not the family farm had a 5 min stockholders meeting in Destin fl, so we wrote off the whole trip at a cost of 10k).

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Posted by Tiger n Miami AU83

Miami

Member since Oct 2007

45656 posts

Posted on 7/11/14 at 10:33 am to Poodlebrain

BTW, the Taxpayer Advocate (watchdog type group of the IRS) agrees with me.

quote:
However, this must be understood in the light of the fact the
Congress has underfunded the IRS, overburdens it with new provisions, and, for
the job Congress expects the IRS to perform, IRS is decidedly undermanned.49
A 2014 TAS Objective Report is notable in that the TA states that “Today the
IRS is an institution in crisis. In my view, however, the real crisis in not the one
generating the crisis. The real crisis facing the IRS—and therefore taxpayers—is
a radically transformed mission coupled with inadequate funding to accomplish
that mission. As a consequence of this crisis, the IRS gives limited consideration
to taxpayers’ rights or fundamental tax administration principles as it struggles to
get its job done.”50