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Thread: Texas man flies plane into IRS building

  1. #201
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by apdst View Post
    What about people who gt their houses siezed on account of penalties and interest, with no tax liability?

    Obviously most of you have never had a run in with the IRS. Just wait!
    who has that happened to?

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by liblady View Post
    who has that happened to?
    I know a guy that it happened to.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  3. #203
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by apdst View Post
    I know a guy that it happened to.
    i've had issues with the irs, and paid additional taxes and penalties and interest. in both instances they worked with me and never once threatened to seize anything.

    by the way, penalties are based on tax liability, so how could the guy have no tax liability but incur a penalty?

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  4. #204
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by apdst View Post
    The same thing I did? I never evaded taxes. Be careful with the accusations.
    You failed to pay taxes that you were required by law to pay. How is that different than what Geithner, Daschle, or anyone else did? They credibly argued that their failure was due to error or oversight. To hear you tell it, your failure to pay was due to a deliberate disagreement with IRS interpretation of the law. Which sounds more worthy of punishment?

    I didn't go four years without paying taxes, like the head honcho of the IRS did.
    Neither did Geithner.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by liblady View Post
    i've had issues with the irs, and paid additional taxes and penalties and interest. in both instances they worked with me and never once threatened to seize anything.

    by the way, penalties are based on tax liability, so how could the guy have no tax liability but incur a penalty?
    Penalties aren't just based on tax liabilities. Penalties and interest can be acrued because of not following th IRS's time table, regardless if you've paid your full tax liability.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  6. #206
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by apdst View Post
    Penalties aren't just based on tax liabilities. Penalties and interest can be acrued because of not following th IRS's time table, regardless if you've paid your full tax liability.
    nope. the initial penalty as well as interest are based on your tax liability. but yes, if you don't pay as agreed, you can further be charged. however, there is no assumption that payments credit the liability.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  7. #207
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    Re: Texas man flies plane into IRS building

    [quote=RightinNYC;1058578083]You failed to pay taxes that you were required by law to pay. How is that different than what Geithner, Daschle, or anyone else did? They credibly argued that their failure was due to error or oversight. To hear you tell it, your failure to pay was due to a deliberate disagreement with IRS interpretation of the law. Which sounds more worthy of punishment?[quote]

    No, I wrote off deductions that the IRS cat decided weren't legitimate deductions. It was a deliberate disagreement. It was a difference in intepretation. The law that says entertainment can be written off doesn't say what does and doesn't qualify as entertainment. Aren't you supposed to be some kind of lawyer?



    Neither did Geithner.


    Neither did Geithner pay his taxes, that's right.

    Timothy Geithner didn't pay Social Security and Medicare taxes for several years while he worked for the International Monetary Fund, and he employed an immigrant housekeeper who briefly lacked proper work papers.

    http://online.wsj.com/article/SB123187503629378119.html
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by liblady View Post
    nope. the initial penalty as well as interest are based on your tax liability. but yes, if you don't pay as agreed, you can further be charged. however, there is no assumption that payments credit the liability.
    You're wrong. Penalties have nothing to do with your tax liability.

    If you owe $400 and you file a day late, but pay the $400, then you still owe penalties and interest and they will keep building up until you pay them.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  9. #209
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by apdst View Post
    You're wrong. Penalties have nothing to do with your tax liability.

    If you owe $400 and you file a day late, but pay the $400, then you still owe penalties and interest and they will keep building up until you pay them.
    good god......if you pay one day late you have incurred a penalty and interest, which is calculated based upon your liability.

    if you have no liability, you never have a penalty. jeez.

    How Does the IRS Calculate Penalties and Interest?
    Late payment of employment taxes will trigger penalties and interest charges to the taxpayer. These notices, particularly from the IRS, are next to impossible to decipher. Here is a quick primer on IRS penalty and interest calculations.

    Statue of Limitations
    There is NO statue of limitations on the failure to file and report payroll taxes (Social Security, Medicare, Unemployment, withheld income taxes). There also is no statue of limitations on assessment of tax, penalties and interest when a false tax return is filed. Household employment taxes are remitted with the employer's personal income tax return. Any household employer who did not pay these taxes has de jure submitted a false tax return.

    Penalty Charges
    -- Late Filing Penalties
    If you owe tax and don't file on time, according to IRS regulations, penalties are assessed and added to your bill. Penalties are in addition to BOTH the tax due and the interest on the past due tax. The total late–filing penalty is usually 5% of the tax owed for each month, or part of a month, that your return is late up to five months (25%). If your return is over 60 days late, the minimum penalty for late filing is the smaller of $100 or 100 percent of the tax owed.

    -- Late Payment Penalties
    If you file on time but don't pay all amounts due on time, you'll generally have to pay a late payment penalty of one–half of one percent (0.5%) of the actual tax owed for each month, or part of a month, that the tax remains unpaid from the due date, until the tax is paid in full. There is no maximum limit to the failure-to-pay penalty.

    Interest Charges
    The IRS will charge interest on late or unpaid taxes, regardless of cause. The period covered always begins with the due date of the return, and ends with the receipt of payment by the IRS. You may incur interest expenses for late filing, or simply for making a mathematical error on your tax return.

    Generally, interest is charged on any unpaid tax from the due date of the return until the date of payment. The interest rate on unpaid Federal tax is determined and posted every three months. It is the federal short–term interest rate plus 3 percent. Interest is compounded daily.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  10. #210
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    Re: Texas man flies plane into IRS building

    Quote Originally Posted by liblady View Post
    good god......if you pay one day late you have incurred a penalty and interest, which is calculated based upon your liability.

    if you have no liability, you never have a penalty. jeez.
    Uh, yeah, pay your taxes late, without paying the penalties and interest and see how that works.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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