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Tag Archives: IRS

Fun on Friday: It’s Just the Price We Pay…

So, last Monday was tax day.Ouch!I don’t know about you, but I had to write a big check. But I took solace in the fact that I’m helping create a more civilized society!That’s the mantra, right? Taxes are the price we pay for a civilized society. That sounds like something a tax collector would come up with.And you know what? I question it.Anyway, the government pushed the date back from April 15 this year due to the reasons. So, we got a little reprieve last month. But as they say,...

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A Shocking USPS Admission

USPS: We Don’t Care; We Don’t Have To Last Monday, January 11, I mailed off my estimated tax payments to California’s state government (an agency called the Franchise Tax Board) and the federal government (IRS). Both, but especially the check to the IRS, were for large amounts. At about 10 a.m., I put them in a mail box close to my office in downtown Monterey. The sticker on the box says that pick up is at 12 noon. At about 2:20 p.m. I received a call from a man at a...

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Fun on Friday: What Have You Done for Me Mr. Taxman?

I have to confess, I’m not really feeling particularly fun this Friday. This past week was tax week.And taxes aren’t fun.A lot of you might not even realize that tax day was July 15. The government pushed the date back from April 15 due to the coronavirus pandemic. So, we got a little reprieve in the spring. But as they say, nothing is certain but death and taxes. The grim reaper and the taxman always cometh eventually.But if you got a refund, you probably went ahead and filed so you could...

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Q: How much turnover is there among the richest Americans? A: A lot according to IRS data – Publications – AEI

AEI Q: How much turnover is there among the richest Americans? A: A lot according to IRS data As I reported on CD back in 2016 in a post titled “New IRS data show that 71% of US taxpayers who make it into the ‘Top 400’ are there for only a single year“: Of the 9,200 total tax returns filed in the 23 years from 1992 to 2014 for the 400 highest earners in each year, there were 4,584 unique, individual taxpayers in the Top 400 over those 23 years, since some taxpayers were in the...

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Understanding the Tax Man: The Gold & Silver Buying Guide & $10K Reporting Myth

You may have heard that you can’t purchase more than $10,000 worth of gold without it being reported to the IRS.This is a myth.You  avoid IRS reporting requirements, even on large-scale purchases. You just have to know the rules. Our revised provide the information you need to navigate the complex world of IRS reporting. You’ll learn:The truth about $10K reporting requirements.What kind of sales transactions trigger IRS reporting.How to buy and sell gold and silver in complete...

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Some thoughts, facts, and charts for Tax Day: Bring us back to 1913; or better yet, bring us back to 1912! – Publications – AEI

AEI Some thoughts, facts, and charts for Tax Day: Bring us back to 1913; or better yet, bring us back to 1912! We are quickly approaching the deadline for filing (and paying in some cases) our federal and state income taxes on Monday (April 15), and that means it’s time for my annual post at tax time to help put things in perspective. 1. Some Historical Perspective. “In the beginning” when the US federal income tax was first introduced in 1913, it used to be a lot, lot simpler and a lot...

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Fun on Friday: The Tax Man Cometh

It’s time for Fun on Friday and I have to be honest — I’m not feeling very fun.Why?Because the tax man cometh! And no matter how you slice it, taxation is a fun subject. It’s no wonder “death” and “taxes” are often mentioned in the same breath.But April 15 is lurking right around the corner and that means it’s almost tax day.This is the time of year we find out who is a procrastinator and who isn’t. The guy sitting in line at the post office at 11:55 p.m. Monday – procrastinator.No. Taxes...

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About Those Tax Cut Savings…

Your Trump tax cut isn’t going to be quite as big as you might have thought.According to a report by the , a new inflation measurement included in the GOP plan and recently implemented by the IRS will cut into your tax cut savings in 2019.Ron Paul warned you about this during the debate over the tax cuts. The cited Congress’s Joint Committee on Taxation estimates projecting that a new inflation measure included in the GOP plan will result in a slower rise in the annual standard deduction...

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IRS Building Walls to Keep Americans In

There has been a tremendous amount of debate about building walls to stop illegal immigration. But the IRS is building walls to keep Americans in.The US government is cracking down on Americans with outstanding tax bills by revoking passports. The IRS says 362,000 Americans with “seriously delinquent” or overdue tax payments will be denied passport renewal if they don’t pay up, according to a report by .A law passed in 2015 empowered the IRS to block passports if a person owes more than...

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Some thoughts, facts, and charts for Tax Day: Bring us back to 1913; or better yet, bring us back to 1912! – Publications – AEI

AEI Some thoughts, facts, and charts for Tax Day: Bring us back to 1913; or better yet, bring us back to 1912! We are quickly approaching the deadline for filing (and paying) our federal and state income taxes (extended to Tuesday, April 17 this year because April 15 falls on a Sunday and Monday is Emancipation Day), and that means it’s time for my annual post at tax time to help put things in perspective. 1. Some Historical Perspective. “In the beginning” when the US federal income tax was...

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