The government and its long fingers and iron fist at work.
Just think of how efficient they will be with ObamaKare.
And...Imagine if your parent received an over-payment from the government but decades later, the government took the money out of your tax return. Gilbert Stokes, 60, of Jacksonville, said it happened to him.
Social Security comes after man for $895 overpayment they made to his mom | firstcoastnews.com
In 1972, President Richard Nixon cruised to re-election. “The Waltons” premiered on CBS. And Sumner Redstone, who wasn’t yet a global media mogul, made a taxable gift to his children and failed to file a return.
At least that’s what the Internal Revenue Service is maintaining 41 years later.
“This is unheard of,” said Richard Behrendt, a former IRS estate and gift tax auditor who is now director of estate planning at Robert W. Baird & Co. Inc. in Milwaukee. “I can’t remember ever hearing of anybody going back 41 years to raise an issue. It’s really unprecedented in my experience.”
Billionaire Redstone Challenges IRS on Tax for 1972 Gift - Bloomberg