IRS Amnesty Program And Thoughts On Income Taxes
This week the Internal Revenue Service announced that it is once again offering amnesty to delinquent tax payers. The IRS will allow individuals to pay penalties and avoid jail time. This initiative follows a similar one in 2009 that the IRS deemed to be a success. Of course, the Government has only completed review of 2000 of the reported 15,000 taxpayers cases. Isn't this typical.
The IRS states that an additional 3000 taxpayers came forward after the last amnesty program ended. I think this is great. However, if the IRS doesn't have the manpower to deal with these individuals, why do another amnesty program? Is the United States broke????
If you are one of the people with assets in a foreign bank account or you are evading the IRS and not paying taxes, now would be a good time to consult a good tax attorney to get details on this program. If you are a tax evader, you may want to seek out an attorney with criminal defense skills as well.
Wouldn't it be nice if the Government put their brainpower to work on creating a system with an incentive to pay taxes? Wouldn't it be nice to pay off the national debt? Wouldn't it be nice to have a surplus, rather than a deficit each year? Why is a deficit acceptable?
Thinking Out Loud: Here is a novel idea? Why don't we have a reverse system? I would be motivated to earn more money if there was a system in place which allowed me to pay less money in taxes. In other words, the less you earn, the more you pay.
Talk about motivation. Of course, this would make people scream. However, if you think about this for a minute it makes some sense in a warped sort of way. According to 2008 statistics, the top 5% of wage earners in 2008 paid 58.7% of all income taxes. 95% of the people paid less taxes. So, what do we do in this Country? We say the rich need to pay their fair share. Why? What do they get in return? Nothing that I can see.
Turn it around and say, we are going to raise your taxes if you make less than $25,000 per year, and you will see a nation of workers rise up. If you change the tax code and say, make over 50,000 per year and we will lower your taxes by 1% for each additional $5,000 per year you earn. Holy Cow, now we are talking some real dollars. Can you say Surplus. Likewise, with everyone working like hell to not pay taxes, crime would go down.
The economy would be booming. Entrepreneurial spirit would overtake the workplace, and we would become the most prosperous country the world could imagine with a balance sheet to match.
Imagine a world with no taxes.
Wow, what a dream I had last night. I have to lay off the soda and cheese crackers before bed.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's bankruptcy blog, mortgage modification blog, www.floridainjuryandaccidentlawyerblog.com and www.fairdebtcollectionpracticesactblog.com.
