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IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers
Just headlines for now. Think of all the budget savings from the ever increasing lack of transparency. Perhaps the administration can say that by keeping the Fed's books in the dark for perpetuity it is saving US taxpayers several trillion on an NPV basis. Perhaps the "people" will respond appropriately by withholding to pay taxes...
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Withhold, bitchez
Apportioned, bitchez.
Freedom to Fascism by Aaron Russo:
http://video.google.com/videoplay?docid=-1656880303867390173#
Be careful with the "There is no law" crowd. There is a law(s)...the key question is "Are you liable?" Pay very close attention to the definitions. If it is defined in the law it no longer means the same as it normally does in common usage.
Taxes have to be apportioned. Living wage is not a choice, like driving or smoking, it is a necessity.
Direct Taxes have to be apportioned, that is correct. Direct taxes are those that fall directly upon your natural rights, basically they tax your exisistance. Excise taxes do not have to be apportioned (examples: smokes, alcohol, employment). Yes, employment taxes are excise taxes upon employment. So the questions one must ask are... Who is an "employer"? Who is an "employee"? What are "wages" and who can pay them or make them? Research this and you may be stunned at the fraud being played on all of us! A defined "term" loses its normal meaning when CONgress defines it in a statute. In other words they may define "black" as white and vise versa. Slick Willie gave it away when he said....."It depends on what your definition of "is" is."
There is no law. There are only thugs who impose their will on the slaves too blind to notice what is happening.
There is only one rule to which the thugs adhere. That is, ... Do nothing so drastic as to cause the masses to openly revolt. And, they seem to be pushing that envelope.
I disagree. There IS a law(s). The key is: Does it apply to you and your situation? I'm guessing no. Research it. As far as the thugs are concerned, they use fear, intimidation, and out right theivery to put you back into the box.
So, how is this different than our current government?
Uggh it isn't different. Just because there is a law does not mean our government will follow it. The way the tax law is setup in no way makes you or I liable for taxes on our money earmed via our time spent working, absent a gov sponsered privledge. However the companies we work for send in cute little documents (w-2, 1099's) every year basically saying we did in fact earn income liable to taxation. Its all in the terms and definitions. The companies more then likely have no idea what there doing as the common terms wages, employee, employer may not have the same meanings as they do in the code. The Gov does not care..they have an document saying you made income and thats all they need to shake you down.
The spiral down into the darkness of fascism is picking up speed.
Or as the MSM likes to say, the second derivative of the YoY increase in fascism is accelerating. The recovery from capitalism and individual/corporate responsibility is nearly complete. All hail the corporate King.
Somekind of -ism bitchez! (but not capitalism)
First they didn't file a 2010 budget, now this. Before long, they will report wildly optimistic growth figures as fact.
Anyway, it's all good; Obama is scheduled to announce that chocolate rations have been increased to 20gr/week.
The second derivative is acceleration. A change in acceleration is called 'Jerk', really, look it up.
So, what we really have is a jerk of fascism.
A den of thieves.
US equities to lose almost 2% today, -1% tomorrow, and -1% on Monday as the DXY winds back up to 82.5. Then come Tuesday, as I am anticipating QE 1.67, I think we will have a huge reversal and the DXY will plummet to 73, this by the midterms. Equities will most likely rise along this time frame. Gold and the other PMs will sky rocket.
If it hits 73, it still has a ways to go. It will either stop at 74, or it will plunge through 73 and keep going.
Wow the govt must be listening to the AC/DC big balls songs..
Dirty deeds done dirt cheap (on your dime).
Highway to Hell.
Timmy's still running the numbers through turbo tax
That's weird, my income is becoming more opaque as a direct result.
The rest of you can have fun paying my share to the shell corporate front of TBTF known as the IRS.
Frankly, the FraudRS can eat my shit.
You do not have to break the law to make a statement that you are pissed off. I invite ZH-ers worldwide to make such a statement on Thursday August 12.
If we get enough people to pull $500 (or local equivalent) from the ATMs on Aug. 12, that will send a message that will most definitely get noticed.
So how about it? Get there early, there may be lines! We can show .gov and the banksters that there ARE some of those who will ACT! Hope to see you in line at the local ATM!
Events appear to be accelerating.
Slippery slopes have a way of doing that.
... --- ...
What we NEED to do is:
1) Default on the national debts (and so will the rest of the world, so it won't be so bad!)
2) Go back to a Gold and Silver backed currency
3) Drop income tax (thus banishing the IRS) and replace it with a 10% VAT Tax
4) Restore the US Constitution by reviewing every Federal Judge and removing those who haven't upheld their oath.
5) Repeal ObamaCare and every other law that violates the Constitution.
Is that all? We should have that done by Thursday.
The Founding Fathers created a nation. All we have to do is save it.
Those are all good ideas.
Re: #4. A recipe for anarchy. There would only be about 3 judges left :>/
"IRS to withhold indicator that shows refunds owed to tapxayers." It may be due them waiting on the discs to copy software from California's IOU Refund program.
Maybe that is why I just got my '04 refund...
Increase you exemptions to 10. Starve the beast!
Is this the story? (Sorry, format locked in) . . . Is this really a big deal, and why? http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a5ak44MNi6Qg IRS Won’t Help Banks Underwrite U.S. Tax Refund Loans (Update1)
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By Ryan J. Donmoyer
Aug. 5 (Bloomberg) -- The U.S. Internal Revenue Service said it will stop electronically underwriting tax refund loans made by banks including HSBC Holdings Plc and Republic Bancorp Inc. that lawmakers and consumer groups say carry unfairly high interest rates.
The agency said it will withhold a digital indicator that tells banks when taxpayers qualify for refunds claimed on their tax forms and that a deposit is imminent. Tax preparation firms such as Jackson Hewitt Tax Service Inc., H&R Block Inc. and Liberty Tax Service advertise the loans as a way to get immediate cash.
“We no longer see a need for the debt indicator in a world where we can process a tax return and deliver a refund in 10 days,” IRS Commissioner Doug Shulman said in a statement. “We encourage taxpayers to use e-file with direct deposit so they can get their refunds in just a few days."
Thanks for the info Doc. This sounds like a good idea, actually. One less way for banks to cheat the people.
About fucking time. If you're going to have a nanny state, no sense half-assing it by pretending citizens are private and have some freedom of choice. And why would you? You know if they aren't going to run out and spend their annual "bonus" checks on malt liquor and pornography, they're going to use just enough of it to get the collection calls to stop (maybe even keep the sheriff from dropping off some paperwork...if he wasn't already on furlough and could give a shit who gets served), get their cell phones turned back on, and then it's off to the races at the mall to buy as much deeply-discounted and deep-fried foreign made consumer goods as is needed to fill that deep, dark place in the middle of their souls. Like all things, if people can't make decisions for themselves, the State will be more than happy to do it for them. Your Dear Leadership'll even throw in the apathetic, if not openly insubordinate, sigh from a welfare mother being forced to work in an agency call center farm (give them a taste of the hard-working good life, they'll claw their way out of poverty in no time) just to show you how much they care.
Tyler: I'm truly disappointed in your last statement; dare I say it lacked the typical sharp observational wit I've come to know and love. See, you're making the fatal mistake of assuming anyone's actually paying taxes. Fully half of the nation is looking at you, mouth agape and heavily-pronouced brow ridge furrowed, wondering what are these taxes you speak of? You might as well have said we'd hold our breath until they gave our checks back.
Your post indicates that there are some who needs that refund to hold off the wolves going after them for personal debts.
If you did not have any debt and there was not income sufficient to pay any extra taxes due for the year then.. we are living within means and no need to get the refund if any.
I have gamed the system for many years by making sure that the company deducts enough federal and state money by additional withholding so that when tax time came, I wont see a bill.
Now I have gone the other way. I have reduced the outflow from each paycheck down to the bare legally required deductions and built a savings suffcient to deal with the IRS in Feburary. They always ask us if we would like a refund anticipation loan, we say no. Electronically file the thing and we get a deposit whenever if any weeks later.
Now I am trying to prepare for rising taxes and even a time where refunds will not deposit for a very long time. I have ceased to worship at the altar of the cell phone and disposed of other money pit type materialistic crap and mourn the death of great old shopping malls www.deadmalls.com
I am pretty sure that taxes are paid somewhere. The gasoline, the sales taxes etc. Along with whatever isnt covered by deductions.
In short, we have made all the decisions we are able to make while there is still time to make them. The only decisions we cannot make is where we are going to be in 5, 10, 15 or 20 years if we are still around.
I worry for the young generation 19 to 30 who are in debt and contract bondgage everywhere and have nothing at all to show for it. I am certain that there are a small number who have not fallen for it and show resources and assets sufficient and growing.
Those young ones who are on the good side of the money book inside the house budget are going to need to take Leadership in our Government in sufficient numbers in time to stop the bleeding and force this USA to get also living within our National means as well before it is too late.
I believe it is already too late. But here in my house and my pathetic small amount of land, America as the Consitution says it ought to be still exists.
My first triple post. Now I know things are really slow.
I beg apologies from everyone.
Double posted. Slow internet server today.
"Making Work Pay"
Form 1045s - which are used to claim refunds of taxes paid in prior years for folks with NOLs in the current year - these tend to be extremely large refunds - are being rejected for complete BS reasons - IRS claiming for instance that NOLs can't be carried back 5 years when that is in fact their own new rule - its cash flow management at its finest - they will eventually pay them, but its crystal clear that the intent is to push them back for 12 to 18 months by rejecting the 1045s for the 12 months in which they are allowed to be filed and then forcing a 1040x at that point which they can sit on for ages if they want to. They are purposely backlogging major refunds - no surprise that now they don't want to disclose this number.
The point of this is to discourage 'refund anticipation loans' which are offered by tax preparers and banks and usally carry interest rates ranging from 50% to 500% APR.
The IRS does issue direct deposit refunds in as little as 9 days, and I think one can have the refund deposited to a prepaid Visa card, so there really is no reason for the IRS to encourage the tax preparers and banking sharks to continue raping their customers...
Landless Peasant megaphone fun:
http://www.youtube.com/watch?v=5oogQgUwv8Y&feature=player_embedded
i have not been in the states for 15 years now but it seems to me from all i read and hear its turning into a system where the government owns everything, in effect.
this thing about witholding tax is interesting to me because i have always wondered what is the total amount of money in the government's pocket at any one time from the aggregate of this witholding tax on the working population and what drag does that have on savings and spending becasue the money is not available to consumers? does anyone know of a source for an estimate how much witholding the goverhment has in its hands at any one time?
It's not just the budget savings from the lack of transparency...it's the ink savings. They need to stock up.
Interesting SP500 chart ...
http://stockmarket618.wordpress.com
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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