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IRS penalty for underpaying estimated taxes jumps to 8% of the shortfall from 3% two years ago - with freelancers and the self-employed most at risk
Daily Mail ^ | 12/03/23 | Keith Griffith

Posted on 12/03/2023 6:39:36 AM PST by Libloather

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To: Libloather

All kidding aside, I always thought that only Congress, more specifically the House, makes all the decisions regarding taxes. Not the bureaucrats.

Both parties claim to be the party of the working man and woman. Kind of hard to believe that when they take away the ability for folks to deduct property taxes and mortgage interest on your 1040, if you’re taking the standard deduction.

So, I guess only those that have numerous deductions, for various things, and the rich get to use those deductions while the middle/working class folks get screwed…..as usual.

And it’s been reported that the IRS is going to increase audits on the middle class. Praying in those that can’t afford a $1000/hr tax attorney. What the hell do they think they’re going to get? I guess it’s easier to get an additional $500-1000 from someone that can’t defend themselves rather than the millionaire that shows up with a law firm.

https://www.breitbart.com/politics/2023/01/09/irs-audits-working-class-the-rich/

And republicans in congress do nothing. But everyone will keep voting for them


21 posted on 12/03/2023 8:49:00 AM PST by qaz123
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To: Libloather

Was there a Congressional vote on this?

Naaaah.


22 posted on 12/03/2023 8:56:14 AM PST by simpson96
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To: qaz123

When the SCOTUS reverses the Chevron deference this session, there will be a huge reduction in the powers of the administrative state.


23 posted on 12/03/2023 9:13:06 AM PST by WASCWatch ( WASC)
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To: qaz123

After about 20 years, I’m still waiting for the IRS to identify the law that requires most people to file a return.


24 posted on 12/03/2023 9:14:32 AM PST by WASCWatch ( WASC)
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To: WASCWatch

Should that be….IF SCOTUS reverses the deference?


25 posted on 12/03/2023 9:16:49 AM PST by qaz123
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To: WASCWatch

Have you ever watched, Freedom to Fascism by Anthony Russo?

If not and if what he/they say is correct, it will make your blood boil.

Example….guy shows up to an audit and secretly records it…IRS agent asked in court if he took any note - answers NO….recording shows agent taking notes, thus committing perjury…..judge doesn’t allow the video in as evidence.


26 posted on 12/03/2023 9:20:07 AM PST by qaz123
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To: Openurmind

Wasn’t much fun, was it?


27 posted on 12/03/2023 10:30:19 AM PST by GaltAdonis
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To: GaltAdonis

No, broke us and we had to build something else from scratch again.


28 posted on 12/03/2023 11:11:21 AM PST by Openurmind (The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
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To: 2nd Amendment
I heard it was 87,000 agents and they weren’t going to target the middle class

And the check is in the mail.......

29 posted on 12/03/2023 11:13:15 AM PST by dfwgator (Endut! Hoch Hech!)
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