handyman2
Senior Member
Joined: Dec 29, 2010 23:56:33 GMT -5
Posts: 3,087
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Post by handyman2 on Feb 20, 2011 20:26:56 GMT -5
I agree they should be given a deadline or work out a payment plan with the IRS. By the way try and get a job with delequent taxes due on your background check. Good Luck.
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
Posts: 31,709
Favorite Drink: Sweetwater 420
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Post by AgeOfEnlightenmentSCP on Feb 20, 2011 23:42:50 GMT -5
I don't think it should be up to the IRS to determine who is tax delinquent. Instead, the IRS should have to bring charges and a taxpayer should have their day in a real court room with a real judge and/or a real jury of their peers. I would apply this to government employees as well-- true due process.
The IRS would then have to establish itself as a credible witness, and I think that would be challenging given that the IRS itself refuses to stand by its own tax advice / guidance, and the IRS routinely offers different answers to the same tax question.
And on this one- do your own homework. I'm not looking for links to post- what I've said is common knowledge for the well informed.
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ChiTownVenture
Familiar Member
Joined: Dec 22, 2010 10:39:06 GMT -5
Posts: 648
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Post by ChiTownVenture on Feb 21, 2011 10:18:17 GMT -5
I don't think it should be up to the IRS to determine who is tax delinquent. Instead, the IRS should have to bring charges and a taxpayer should have their day in a real court room with a real judge and/or a real jury of their peers. I would apply this to government employees as well-- true due process. The IRS would then have to establish itself as a credible witness, and I think that would be challenging given that the IRS itself refuses to stand by its own tax advice / guidance, and the IRS routinely offers different answers to the same tax question. And on this one- do your own homework. I'm not looking for links to post- what I've said is common knowledge for the well informed. Isn't this the case now? Tax code is written by Congress the commerce department releases the tax law via regulations, the IRS releases its interpretations of how the tax law is to be applied. If a tax payer disagrees with the IRS they are allowed to take their case to federal court, appeal and so on with the Supreme Court being the ultimate decider. Although the IRS is a function of the commerce department they are not the ultimate authority, the supreme court and congress are the ultimate authorities.
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
Posts: 31,709
Favorite Drink: Sweetwater 420
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Post by AgeOfEnlightenmentSCP on Feb 23, 2011 0:17:21 GMT -5
I still remember the Rose Law Firm, the Whitewater land deal, renting out the Lincoln bedroom, campaign cash from Budhist monks, Charlie Tri, the Clinton's parting gift of pardoning Rich what's his name-- major tax cheat-- and my personal favorite- more than a thousand FBI files missing and under supeona for years finally turning up in the residence quarters of the White House. Night time reading for Hillary I suppose.
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reasonfreedom
Well-Known Member
Joined: Dec 21, 2010 8:50:21 GMT -5
Posts: 1,722
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Post by reasonfreedom on Feb 23, 2011 10:49:34 GMT -5
Well... the stock market has fully recovered... as have corporate profits... that's a good thing... right Henry... Actually, the amount owed did drop by like a 3rd when dems came in in 2007... but then in the past year it ticked up 32% again... wonder why? You are talking about U.S. markets and U.S. corporate profits? Where do you get your statistics, because I want to avoid that source.
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Deleted
Joined: Apr 25, 2024 16:47:59 GMT -5
Posts: 0
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Post by Deleted on Feb 23, 2011 18:27:10 GMT -5
American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms. The government does not adjust the numbers for inflation, in part because these corporate profits can be affected by pricing changes from all over the world and because the government does not have a price index for individual companies. The next-highest annual corporate profits level on record was in the third quarter of 2006, when they were $1.655 trillion. Corporate profits have been doing extremely well for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history. As a share of gross domestic product, corporate profits also have been increasing, and they now represent 11.2 percent of total output. That is the highest share since the fourth quarter of 2006, when they accounted for 11.7 percent of output. www.nytimes.com/2010/11/24/business/economy/24econ.html?_r=1The stock market's solid performance from 2010 has quietly continued into the new year and put an extra shine on what already was a smooth, wealth-generating machine. Major indexes are at bull market highs. The broad market has doubled from the 2009 low. And important segments of the market are breaking out to record highs. "We're back off to the races," says Michael Farr of Farr Miller and Washington. •Doubling from the bottom. The broad Wilshire 5000 index, a measure of the entire stock market, gained 1.8% last week to close Friday 100% above its hair-raising March 9, 2009, low. That means $8.3 trillion in shareholder wealth has been created since the bull market began. •Notching new records for key corners of the market. The Standard & Poor's MidCap 400 index, a measure of companies that fall between being large and small, set its highest point ever Friday, completely erasing the damage from the credit crisis-inspired bear market. abcnews.go.com/Business/stock-market-recovery-appears-firmly-track/story?id=12629556
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