“Perhaps the most telling indicator of taxpayer confusion over the code’s complexity is that today, 90% of individual taxpayers pay for professional tax preparation or tax software to prepare their tax returns. IRS research estimates that, over the past 10 years, the burden for the typical taxpayer has increased by about 20% and would likely be even more if they had to prepare returns themselves without any aids or tools. Moreover, we estimate individual taxpayers and businesses spend more than 7 [billion] hours each year complying with filing requirements.” [Tax-News via Tax Foundation]
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Breaking: Requesting Huge Tax Refunds Based on Crackpot Theories Still Being Attempted
- Caleb Newquist
- July 22, 2010
Presumably, because the IRS wouldn’t possibly think to question liens taken out against government employees:
Thanh Viet Jeremy Cao, 28, of Rancho Santa Margarita and Las Vegas, is accused of taking out 22 false liens ranging from $25 million to $300 million against employees of the Securities and Exchange Commission, the U.S. Attorney’s Office, the Secret Service and the Internal Revenue Service, as well as false liens against four federal judges, the Department of Justice announced Wednesday.
Young Mr Cao wasn’t just doing this out of spite. Oh my lord, no. He had a theory behind his request for $20 billion in refunds:
Cao, whose business was Phoenix Financial Management Group in Lake Forest, filed fraudulent forms with the IRS on behalf of six clients “that grossly overstate his customers income and withholding to get grossly inflated tax refund checks,” according to a complaint filed Tuesday in U.S. District Court in Los Angeles.
Cao used a theory called “redemption” or “commercial redemption” – which prosecutors called a “rejected tax defier theory.” This theory claims that the U.S. Treasury keeps millions in a secret treasury account for each taxpayer. The secret account can be used to pay a taxpayer’s debts and tax liabilities if a taxpayer sends the IRS and banks certain documents, the theory goes.
“Cao’s theory is complete fiction,” the complaint reads.
Jesus, man. Not even an original crackpot theory. Spend some of those 223 possible years working on developing something new.
Man accused of $20 billion tax fraud [OC Register]
California Man Indicted in Las Vegas for Filing False Liens Against Federal Employees & Filing False Tax Forms [DOJ]
Earlier:
Give It Up Tax Protesters, You’re Just Screwing Yourselves
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Coca-Cola Can’t Beat the Feeling That Its Taxes Are Just Fine
- Caleb Newquist
- September 18, 2015
Coca-Cola Co. is learning that the IRS side of life includes a challenge to its […]
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An IRS agent walks into a CFO’s office…
- Adrienne Gonzalez
- February 19, 2011
This was sent to me by my 69-year-old landlord who is spending his winter in Florida and we humbly present it to you now for your reading pleasure during this lovely busy season.
At the end of the tax year, the IRS office sent an inspector to audit the books of a local hospital. While the IRS agent was checking the books he turned to the CFO of the hospital and said, “I notice you buy a lot of bandages. What do you do with the end of the roll when there’s too little left to be of any use?”
“Good question,” noted the CFO. “We save them up and send them back to the bandage company and every now and then they send us a free box of bandages.”
“Oh,” replied the auditor, somewhat disappointed that his unusual question had a practical answer. But on he went, in his obnoxious way. “What about all these plaster purchases? What do you do with what’s left over after setting a cast on a patient?”
“Ah, yes,” replied the CFO, realizing that the inspector was trying to trap him with an unanswerable question. “We save it and send it back to the manufacturer, and every now and then they send us a free package of plaster.”
“I see,” replied the auditor, thinking hard about how he could fluster the know-it-all CFO. “Well,” he went on, “What do you do with all the leftover foreskins from the circumcisions you perform?”
“Here, too, we do not waste,” answered the CFO. “What we do is save all the little foreskins and send them to the IRS office, and about once a year they send us a complete dick.”