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    More: Unlikely, Internal Revenue Service, Tax, Taxation in the United States, qualified business income deduction, tax breaks, new IRS watchdog report, QBI deduction, business owners  
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2364 clicks; posted to Business » on 19 Jan 2021 at 8:41 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



13 Comments     (+0 »)
 
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2021-01-19 7:30:18 PM  
For a guy under a 5 year audit, that's a bit of an oversight
 
2021-01-19 8:50:08 PM  

vudukungfu: For a guy under a 5 year audit, that's a bit of an oversight


Despite the article headline, the article has zero to do with Donald Trump.
 
2021-01-19 9:51:18 PM  

sprgrss: vudukungfu: For a guy under a 5 year audit, that's a bit of an oversight

Despite the article headline, the article has zero to do with Donald Trump.


Trump rubber stamped it after McConnell and Ryan told him to.  Other than that Trump had nothing to do with it.
The IRS will find it difficult to get money back from the truly wealthy and their army of attorneys and CPAs.
They will however go after small business owners and middle class S corporation folks who can't afford that kind of representation, and will pay.
Hey, don't forget about the social security payroll taxes that were not taken out for a good portion of last year.  The entire employee amount is due in April!
 
2021-01-19 11:04:56 PM  
57 million to the IRS is a far in a windstorm.
 
2021-01-19 11:05:53 PM  
*fart
 
2021-01-19 11:37:05 PM  

Northern: The IRS will find it difficult to get money back from the truly wealthy and their army of attorneys and CPAs.


Only if the amount they are seeking is worth paying that army of attorneys and CPAs who aren't free.  $57 million in "potentially erroneous" deductions on 12,980 tax returns might only be $4,391.37 per return.

/obviously some deductions are much larger amounts and other smaller, but...
 
2021-01-19 11:37:17 PM  
*fart-poot
 
2021-01-20 2:59:43 AM  
*diarrhea-shart
 
2021-01-20 6:06:50 AM  

Fark me all night long: 57 million to the IRS is a far in a windstorm.


Yeah, but underpay *them* by $38 and change and they'll go all T1000 hunting you down.

/Not speaking from experience
 
2021-01-20 8:04:58 AM  
Underfunded/understaffed IRS makes more mistakes than average.


Reality at 11.
 
2021-01-20 8:30:45 AM  
Honestly who cares? This is peanuts, it was apparently in error rather than fraud, and paid out amongst thousands of recipients.

I'm glad the IRS has someone looking over it's shoulders, but why this has been repeatedly in the news is beyond me.
 
2021-01-20 12:33:39 PM  
Troll headline, processing errors by personnel and negligible actual impact on the treasury.  Big deal.

This has nothing to do with Trump, but journalists are going to use any excuse in order to tie him to problems.
 
2021-01-20 7:02:59 PM  

freakdiablo: Fark me all night long: 57 million to the IRS is a far in a windstorm.

Yeah, but underpay *them* by $38 and change and they'll go all T1000 hunting you down.

/Not speaking from experience


...and if they accidentally overpay you, I believe they can and will ask for it back. Fail to pay up and they add interest.
 
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