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RzaRectum
04-18-2011, 06:17 PM
Are you gonna get a tax refund or do you "owe" the gub-ment?

I owe a shit load of taxes this year. I can only console myself in the notion that I'm making more than I ever have in the past. What is your tax situation?

Art Vandelay
04-18-2011, 09:26 PM
haha, just got my shit in at the last minute today...

EAGLE EYE
04-18-2011, 09:39 PM
Used an online service for the first time this year.


This is kind of a stupid question to ask though, considering 3/4 of this board leeches off entitlement programs.

INF
04-18-2011, 10:18 PM
plus , I did my taxes like 2 months ago....wtf??? Did that shit and got the money RIGHT back.

EAGLE EYE
04-18-2011, 10:22 PM
is it true the IRS only takes notice of deposits over $9,999 ?

Some guy who used to flip muscle cars that I worked with told me that.

RzaRectum
04-18-2011, 10:46 PM
is it true the IRS only takes notice of deposits over $9,999 ?

Some guy who used to flip muscle cars that I worked with told me that.Well. They watch for transactions totalling $10k and over by requiring Form 8300 as a way to combat illegal activity (ie not paying tax, money laundering, terrorist funding, etc).

http://www.irs.gov/publications/p1544/ar02.html
Here's an exerpt
Why Report These Payments?

Drug dealers and smugglers often use large cash payments to “launder” money from illegal activities. Laundering means converting “dirty” or illegally-gained money to “clean” money.

The government can often trace this laundered money through the payments you report. Laws passed by Congress require you to report these payments. Your compliance with these laws provides valuable information that can stop those who evade taxes and those who profit from the drug trade and other criminal activities.

The USA PATRIOT Act of 2001 increased the scope of these laws to help trace funds used for terrorism.
Exerpt num2.
What Payments Must Be Reported?

You must file Form 8300 to report cash paid to you if it is:

Over $10,000,

Received as:

One lump sum of over $10,000,

Installment payments that cause the total cash received within 1 year of the initial payment to total more than $10,000, or

Other previously unreportable payments that cause the total cash received within a 12-month period to total more than $10,000,

Received in the course of your trade or business,

Received from the same buyer (or agent), and

Received in a single transaction or in related transactions (defined later).

EAGLE EYE
04-18-2011, 11:05 PM
i think i saw something in the news about a lady who was a small business owner that was audited for consistently breaking up her large deposits into $2500 transactions.

apparently that doesn't work as a loop hole to getting around that damn form. it was all legal money though.

L~>1<~NKS
04-18-2011, 11:07 PM
is it true the IRS only takes notice of deposits over $9,999 ?

Some guy who used to flip muscle cars that I worked with told me that.



I heard that too.

...when in doubt, try it and find out.

Don't get me started on this 'ponzi scheme' called the federal income tax.

Free Wesley Snipes!

RzaRectum
04-18-2011, 11:30 PM
i think i saw something in the news about a lady who was a small business owner that was audited for consistently breaking up her large deposits into $2500 transactions.

apparently that doesn't work as a loop hole to getting around that damn form. it was all legal money though.

She was found in violation of that last part (quoted in the second excerpt)
Installment payments that cause the total cash received within 1 year of the initial payment to total more than $10,000, or

Other previously unreportable payments that cause the total cash received within a 12-month period to total more than $10,000,

Received in the course of your trade or business,

Received from the same buyer (or agent), and

Received in a single transaction or in related transactions (defined later).

diggy
04-18-2011, 11:44 PM
Just filed mine last friday. Got some money back. Was not as much as last year cuz this year I get more dough.

^O^

Mumm Ra
04-19-2011, 12:04 AM
man i got my money back before february

TSA
04-19-2011, 12:44 AM
Used an online service for the first time this year.


This is kind of a stupid question to ask though, considering 3/4 of this board leeches off entitlement programs.
hahahahaha!

im barely getting shit back but with the little scraps i get and 2 paychecks i wanna start fucking with that stock market

i've been in the process of learning about it for the past month, it's a retarded gamble really but i'm going to bank on my fairly good current events awarness and foresight to capitalize of what i see as upcoming disasters

RzaRectum
04-19-2011, 01:12 AM
The stock market is how I got into this mess.

diggy
04-19-2011, 01:24 AM
hahahahaha!

im barely getting shit back but with the little scraps i get and 2 paychecks i wanna start fucking with that stock market

i've been in the process of learning about it for the past month, it's a retarded gamble really but i'm going to bank on my fairly good current events awarness and foresight to capitalize of what i see as upcoming disasters


Stock market is a legal shell game. It's speculations...Imo, mostly the people who make money from it are the stock brokers.

TSA
04-19-2011, 01:51 AM
seems like it, but stocks are still good collateral for loans

RzaRectum
04-19-2011, 02:11 AM
oh my gawd, lol. You all don't even know what you're talking about!