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Tax professionals ‘horrified’ by IRS decision to destroy data on 30 million filers
CNBC ^ | Kate Dore | PUBLISHED THU, MAY 12 20221:58 PM EDT - UPDATED 3 HOURS AGO

Posted on 05/13/2022 10:45:59 AM PDT by Red Badger

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To: karnage

I agree with your entire post...


61 posted on 05/13/2022 1:50:49 PM PDT by FtrPilot
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To: mass55th

My take is I have a rather simple tax return. For some reason the electronic filing company I was using started requiring info when it wasn’t necessary. The small tax data I had was unable to be accepted in their systems, so I said the heck with it and went back to snail mail..


62 posted on 05/13/2022 1:52:53 PM PDT by EVO X ( )
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To: Red Badger

My guess is there’s more to this, like massive fraud tucked in among the destroyed documents.


63 posted on 05/13/2022 1:53:57 PM PDT by 9YearLurker
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To: Red Badger

I find this story confusing. How do you “damage the reputation” of an organization that is already one of the most hated in the world?


64 posted on 05/13/2022 2:03:25 PM PDT by irv (Live Tea or die!)
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To: DIRTYSECRET

> Here’s a question: I returned $30k to my IRA within 60 days of taking it out. H & R Block counted the $30k as income and the folks at Fidelity said the IRS would take it into account and not count it as income. The state(ca) folks did not do that. Now I have to find that other form that counts the $30k as a deposit. It doesn’t look like a tax form. Forgot the # of it.

I am no tax consultant but imho there should be an h&r block option to avoid counting the IRA withdrawal as income provided that it is re-invested in another IRA within a certain period (60 days sounds familiar). I used such an option in TurboTax. If you did not have such an option or failed to use it, then you might be stuck in a dialogue with the IRS and/or need to file a corrected return. As for your state, maybe they got an independent report from Fidelity or the IRS that you re-invested the money within the time limit; I have found that my state is generally more taxpayer-friendly than the IRS (ymmv).


65 posted on 05/13/2022 2:05:24 PM PDT by SteveH (.)
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To: FtrPilot

Trump is the best thing to happen to American politics since Ronald Reagan.

Looking forward to The Return.


66 posted on 05/13/2022 2:16:02 PM PDT by karnage
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To: Born in 1950

They don’t have enough workers to process tax filings. The workers they have are too busy finding and persecuting conservative groups.


67 posted on 05/13/2022 2:52:01 PM PDT by 17th Miss Regt
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To: Red Badger
destroy an estimated 30 million paper-filed information return documents

I don't see what the problem is.

68 posted on 05/13/2022 3:07:50 PM PDT by T Ruth (Mohammedanism shall be destroyed.)
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To: Red Badger

Maybe this mess will Cloward-Piven the IRS and the tax system to death.


69 posted on 05/13/2022 3:45:40 PM PDT by mikey_hates_everything
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To: Flavious_Maximus

File form 3911 to claim it


70 posted on 05/13/2022 7:03:17 PM PDT by NonValueAdded (Proud subject of the Great MAGA King)
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To: T Ruth

Does this mean 30 million do not have to pay taxes as there is no record one way or another?

The Simpsons Police Chief Wiggum would delete emergency calls when he came in to work on monday.
I guess the IRS does the equivalent when they get too much paperwork.


71 posted on 05/13/2022 9:00:54 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: DIRTYSECRET

There are a couple of HRB agents that frequent this website.

There is a place in their software that allows them to show that it was returned within the 60 day window.

Still has to be declared for the IRS.


72 posted on 05/15/2022 12:07:25 PM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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