To All Taxpayers!
I just thought I would give some secrets away! I worked for the IRS for almost 19 years before I decided it was time to "move on". The short and sweet of it? They do not want you to know about what I am going to tell you because it is not in their best interest or the government's. If I suddenly die of some tragic accident, well, let your imagination run away with you...
Here's the scoop:
Firstly, let's get this one thing out of the way...the I.R.S. does NOT make the tax laws so blaming them for the taxes you pay would not be correct. CONGRESS passes the tax laws, so if you want to blame someone, it is our beloved elected officials that do the dirty deeds!!
Okay, here we go:
1. Yes, there is a limit: good news for some folks. Some of the departments have a threshold of how much tax money is worth going out after. It changes from year to year. One year it may be $50 (tax due), the next may be $75 or $100 tax due. Some departments don't have a threshold.
2. Audits: almost all audits are RANDOM. I know you do not believe this, but it is true. I will tell you though, if you have had an audit in the past, your odds are higher that the system will randomly pick you again (it's in the computer program). VERY IMPORTANT: if your tax return has unusual deductions or very high deductions that do not seem reasonable, the computer will kick out your return and it will be manually audited before you are contacted about the issue(s) in question.
3. What to do if you are Audited: first of all DON'T PANIC! Revenue agents and auditors have this mindset that they are "God", so you need to try to get past that and just do what they ask of you. If you are being audited, the unfortunate thing is that you have to prove your deductions or earnings before they are going to move from their original "thought" that you are a lowlife piece of crap that doesn't deserve to have those deductions and that you are a lying son of a...I am not calling you these names, this is how THEY think. You have about a 25% chance that you will get a good agent, there are some but very few. If they ask you for verification, then give them what they want. It will only aggravate them if you cry about it. Don't complain, and only cry privately. One more thing, PLEASE - this is NOT the end of the world, if you fall you can get right back up. Anyone, and I mean anyone can start over again if necessary!
4. If you have to pay: don't panic here either. Request a payment plan. They are required BY LAW to allow you to make installments!
5. If you owe and you don't have much money: when you request a payment plan, they will ask you a lot of questions regarding your current finances. There is a minimum amount you have to pay per month, it used to be $25, but it has probably changed by now.
6. Required Allowances: they have to allow you these specific material items and expenses - a home to live in (doesn't matter if it's a house or apt, or the value), one car per driver in the household, money for food, utilities (no cable or internet), cleaning supplies, gas, dry cleaning, insurance, healthcare and there are other items I can't think of off the top of my head. They will try to get you to sell your big expensive house or car, but, all you should need to tell them is that with economy "how am I supposed to sell it without losing my shirt?". Get the picture?
I think that is about all you need to know for the moment. Stay tuned for more info in the future.
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