Sunday, March 14, 2010
The Internal Revenue Service is, in at least one case, in hot pursuit of four cents. I admit, I had no idea that the feds were so zealous about saving money. Sort of shakes my whole attitude about the competence of government. Maybe health care reform really will cut costs!
Something's fishy with that story. Most of us round off every item in our our tax returns to the nearest dollar and have done so for years.
Come to think of it, it's sad that many Americans would not understand that last statement.
I think the $.04 visit was an attempt by the IRS into having the revealing more information regarding his business. I would not be surprised as Car Washes have lots of cash sales that could possibly not be fully reported as sales on the return. I have seen the IRS issue "erroneous" returns to taxpayers, U.S. Citizens that are expats and receive Foreign tax Credits and Foreign Income Exclusions, so that upon cashing the "erroneous" refund the IRS then has an excuse to examine the prior year returns. Thus causing the taxpayer more harm.
DTG in NNJ
We can expect the IRS to beat up on small businesses even more -- it's the next phase of the DC Borg self-actualizing.
Back during the Y2K scare, computer programmers used it as cover to clean up their code more generally. So too, IRS gnomes have been using the cover of "anti-terror, anti-money laundering" to turn banks into better IRS compliance agents.
There's still pockets of resistance. I quizzed my son about why the local deli runs a cash box on the side of the register -- my daily purchases of coffee always get run out of the box, not the register. He figured the angle.