Taxes

[Popeye_Card]

I scoff at the postcard tax return because there is no way the folks who make the decisions (i.e. the uber-rich donor class) are going to give up all of their tax loopholes. They don't mind taxes being complicated, because they'll pay dozens of people to figure out how many millions they can save.

[Arthur Dent]

Remember, we already did the postcard tax return. Achieved by offloading the lines on the old 1040 onto supplementary schedules with only the final summaries entered on the postcard 1040. Promises made, promise kept, and all that.

In terms of burden for ordinary filers, the formatting of the forms is not the major issue. As this, and others repeatedly point out, the IRS already has most of the information it needs. Without changing any forms, they could simply send you copies that are already filled out, so you could just confirm if you agree or file new version if there’s some issue. The only reason this doesn’t happen is Congressional corruption led by H&R Block et al.

[Leroy]

Both of these above posts are true.

Not the first or last time I say this, but the political class counts on us being dumb.

But like I said, one complicator is the government has no idea how much my business spends on two martini lunches and hookers, so they are counting on my honesty there.

[CardsofSTL]

[expletive] I have to do my taxes soon.

[heyzeus]

I miss JackOfDiamonds

[ghostrunner]

I wonder how many people have been confused about this when doing taxes this year, not understanding how the payments worked last year.

[Superorganism]

Everyone

[CardsofSTL]

My taxes are complete. You're welcome, America.

[Leroy]

https://www.americanprogress.org/articl ... s-in-2021/

Here is an interesting article. I always hear about how Amazon pays no taxes but it looks like in 2021 they do, to the tune of $2.1 billion. But I never hear about AT&T. Essentially a tax refund of $1.2 billion on earnings of $29.6 billion. That's a lot of flat screens.

I have no problem with these corporations taking advantage of current tax law. Just change the damn law.

On the other hand, if we don't think prices will go up if taxes do, we are delusional. We just have to suck it up though, which we aren't very good at doing.