Comments on: $300 Billion in Uncollected Taxes?

By: plonkee

plonkee — Thu, 08 Mar 2007 12:30:07 +0000

Is that the difference between what people have claimed as owing on the tax returns and what is actually paid? In that case I’d guess that its lost because people are bankrupt.

Otherwise, it must be the difference between what they think people should be reporting and what is actually paid and I’d love to know how they work out what people should actually be reporting (and presumably aren’t).

By: Cathy Moran

Cathy Moran — Thu, 08 Mar 2007 04:37:51 +0000

Your choices for explanation are too limited. People end up with unpaid taxes because they underwithhold so as to have money to pay mortgage or credit card debt; to try to keep a struggling business afloat by deferring employment taxes; or incur taxes on stock options that tank or withdrawals from retirement savings to pay current bills. There are a thousand stories out there, and bankruptcy lawyers hear lots of them.

Cathy Moran

By: Mark

Mark — Wed, 07 Mar 2007 20:31:24 +0000

What a joke! The IRS sends this crap out every year just before April 15th. You’ll also see a bunch of news about them go after honest Americans and throwing them in jail, ‘because they didn’t pay their fair share’. I call BS! HEY CONGRESS! STOP SPENDING SOOOOO MUCH OF MY HARD EARNED MONEY! YOU SUCK!

By: Steve

Steve — Wed, 07 Mar 2007 19:32:49 +0000

This is the same bogus news item that the irs spews out every year to justify Congress giving them a budget increase. If anything I pay more than I owe so that my ratios don’t attract an audit.

I’m so ready for the fairtax!

By: Nick

Nick — Wed, 07 Mar 2007 15:33:32 +0000

Oops, this is my bad. I forgot to carry the 2 in the billions column on my 1040.

By: Clever Dude

Clever Dude — Wed, 07 Mar 2007 15:33:24 +0000

That would buy me a decent house I think.