Bob's right, congrats on being successful! Look at it this way, if the IRS owed you mony, that just means that you OVERPAID them and they get to ride the interest. Here its reverse - you got a $6,500 loan interest free!! I know, I know - it still sucks...
Actually I have paid $$ to the IRS, and using that excuse was of no comfort. Just making a smartass reply....
I fully agree with the above comments on RE taxes. That is the biggest bunch of BS. I live in S. Florida and between the RE tax, HOA fees and now sky high insurance, I have no idea how people can afford a home. Yet I see people everyday driving BMW's, Benz, Jags, etc..... God love credit..... I guess
""""""Audits raise very little extra taxes paid""""""""
Then there is the asshole IRS agent that either wants to make a mark, had a fight with the wife that morning, or is just a $2 prick.
Your taxes have been prepared professionally and his audit shows you owe another $44,000. No, I don't!!!! Yes you do, look right here!!!
So you spend a week trying to make this guy understand 1 & 1 usually equals 2, and end up wondering why you don't kill and bury this SOB and tell the Good Lord he just died.
The accountant fights til he is blue in the face, requests another IRS agent, that agent ends up backing up everything the first said without running his own audit.
This goes on and on til the agent freezes all you assets (another fight with the wife?) and all it took was a $5500 check to an IRS attorney to say, "what is wrong with this idiot, can't he add 1 & 1 or 2 & 2???????
So it ends up costing me all kinds of grief, $5500 I shouldn't have had to spend, and a 160 mile trip to IRS HQ to complain about this situation only got me a reply of ""We know, we are looking over current procedures to see what can be improved"!!!!!!!!!!!!!
Flat tax for everyone ... no loopholes ... no deductions ... no tax breaks ... nothing but a flat even taxation for everyone ... no matter how much or how little you earn we all pay a flat percentage of our income.
Just think of the cost savings to the government ... no need for all those IRS workers ... flat tax ... the only way to go.
The flat tax still gives us....April 15th. The Fair Tax Plan does not.
I know we've covered all these tax plans before, but the FTP let's you keep everything you earn...period. Some call it a user tax, but it's a national sales tax, that includes a "tax rebate" up to the poverty level, for everyone.
GunDr is correct. The FTP is the right way to go. It puts the irs out of business and out of your affairs. If you combine the "the irs" you get "theirs." That is what the irs thinks of your money that you earn.