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Taxes Quotes

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Taxes Quotes

“Let's talk about how to fill out your 1984 tax return. Here's an often overlooked accounting technique that can save you thousands of dollars: For several days before you put it in the mail, carry your tax return around under your armpit. No IRS agent is going to want to spend hours poring over a sweat-stained document. So even if you owe money, you can put in for an enormous refund and the agent will probably give it to you, just to avoid an audit. What does he care? It's not his money.”

“However accurate or inaccurate the agency's numbers may be, tax law explicitly presumes that the IRS is always right -- and implicitly presumes that the taxpayer is always wrong -- in any dispute with the government. In many cases, the IRS introduces no evidence whatsoever of its charges; it merely asserts that a taxpayer had a certain amount of unreported income and therefore owes a proportionate amount in taxes, plus interest and penalties.”

“Churches are tax exempt because they are supposed to provide a public good. To prove that good to the IRS, churches arent supposed to hoard their money. They are supposed to spend it on goods and services for the faithful. Under this pretense, the church has made massive investments in tax free real estate all over the world. And when it comes to labor costs, they are almost free.”

“Every year I write a tax advice column and I used to always make fun of that. One year, one of my favorite IRS commissioners, I think his name was Roscoe somebody, wrote that one of the most often-asked questions by taxpayers was, "How can I contribute more?" Well, I tell ya, ol' Roscoe's really been doing situps under parked cars again. I've heard a lot of people ask a lot of questions about taxes, but I never heard anybody say, "How can I, the ordinary person, send more money for no reason?"”

“When preparing your return, you should be sure to avoid common mistakes. The two most common taxpayer mistakes, states the IRS booklet, are (1) "failure to include a current address," and (2) "failure to be a large industry that gives humongous contributions to key tax-law-writing congresspersons."”

“Is there another way? Of course there is. There is a way based on simple moral principles: Everyone keeps his own money. Everyone decides what to do with his own money. No income tax. No IRS. No government grants or assistance to anyone. All charity is voluntary. It's called freedom. It's a peaceful, harmonious way of life, one that Americans once believed in.”

“Punishing enemies and rewarding friends - politics Chicago style - seems to be the unifying principle that helps explain the Obamacare waivers, the NLRB action against Boeing and IRS's gift tax assault on 501(c)(4) donors. They look like examples of crony capitalism, bailout favoritism and gangster government. One thing they don't look like is the rule of law.”

“I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine. He said, "What these other accounting firms have done is very unethical. The [tax avoidance scheme] works best if it's not found out [by the IRS], so we only give it to our best clients, not the rest, so it's unlikely to be discovered. So my firm is better than the others." [Laughter] I'm not kidding. And he was a perfectly nice man. People just follow the crowd...Their mind just drifts off in a ghastly way.”

“In enforcement, you always have to have both a focus on the really worst actors - you know, gang bangers, in this case, drug dealers, that sort of thing - but also routine enforcement because think about, for instance, the IRS. They don't say, OK, well, if you're not a money launderer, it doesn't matter whether you fill your tax return out right or not. They have both. They go after the really bad actors and they have a kind of general, routine enforcement.”

“Suppose that throughout your childhood you were good with numbers. Other kids used to copy your homework. You figured store discounts faster than your parents. People came to you for help with such things. So you took accounting and eventually became a tax auditor for the IRS. What an embarrassing job, right? You feel you should be writing poetry or doing aviation mechanics or whatever. But then you realize that tax collecting can be a calling too.”

“In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.”

“Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.”