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-   -   Slow, frustrating IRS (https://www.talkofthevillages.com/forums/villages-florida-non-villages-discussion-93/slow-frustrating-irs-329272/)

Geodyssey 02-17-2022 11:09 AM

Quote:

Originally Posted by Babubhat (Post 2062171)
Congress lives on donations from special interests. Never will happen

"donations" are no longer special, now just business as usual.

JMintzer 02-17-2022 02:00 PM

Quote:

Originally Posted by daniel200 (Post 2062381)
I don’t know the solution. But a flat tax on income is very beneficial to the rich… Example: Elon Musk who receives no paycheck from Tesla. So his income tax is zero on earned income. He has smartly arranged for all his compensation to be from the valuation of his shares in Tesla. As long as he does not sell his shares, he pays no income tax.

I prefer the European method which relies heavily on the VAT (value added tax). The advantage of this tax is that it taxes everyone including all the “cash” businesses that do not report their cash income by taxing spending and not income.

Elon Musk is not typical of "the rich". He (and a few others) are the exception, not the rule...

So a flat tax will be more equitable.

The VAT with be a greater burden on the poor and lower middle class than on the upper middle class and the actual rich (not the mega rich)...

DaleDivine 02-17-2022 08:42 PM

Quote:

Originally Posted by blueash (Post 2062065)
If we properly funded the IRS with enough representatives and agents to do the job with which they are tasked... but that is another topic.. 1444C is an informational letter telling you what the IRS did about giving you money because of the impact of Covid. You are required to report what you received whether or not you get the letter in a timely fashion. You do not "submit" the letter, you use it to correctly report your income.
So if you know what you received, you need not await the letter or wait your turn to speak with an overworked IRS phone person.

I know nothing about tax law, nothing. My answer is based 100% on Google. Use at your own risk.

Way to cover yourself...
:coolsmiley::1rotfl:


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