IRS May License Tax Preparers to Help Close ‘Tax Gap’ - New England Patriots Forums

***NEPatriot*** · 06-05-2009, 09:52 PM

http://www.bloomberg.com/apps/news?p...AfFVs&refer=us

Quote:

The Internal Revenue Service is considering registering or licensing paid tax preparers such as H&R Block Inc. and Jackson Hewitt Tax Service Inc. as part of a broad review of the way Americans file tax returns, Commissioner Doug Shulman said.

Shulman told a House Ways and Means subcommittee today he is preparing a “comprehensive set of recommendations” that may include new regulations for preparers to help recover an estimated $290 billion in uncollected taxes. He later told reporters that may include a registration or licensing requirement.

Requiring paid tax preparers to register or become licensed would establish a national accreditation framework for the industry for the first time, with the goal of improving accuracy of tax filings and ending fraud that investigators say fleeces both taxpayers and the government.

I'm not sure if it's going to be cheaper to go to H&R block if IRS taxes them.

***IcyPatriot*** · 06-05-2009, 09:58 PM

Way too many tax loopholes ... people incorporating themselves, s-corporations and all of that stuff. The tax code needs to be simplified by a ton. It can be if they take the time to do it. Get rid of off-shore tax havens, deductions for corporations that do not really exist ... stuff we have already been seeing in the news is on target IMO.

when those loopholes are closed Obama's people can then offer big breaks to companies doing business here and especially those companies producing things here. China won't be happy, nor will Japan or Mexico or the dominican Republic ... but too bad.

***BelichickFan*** · 06-05-2009, 10:00 PM

Quote:

Originally Posted by NEPatriot

I'm not sure if it's going to be cheaper to go to H&R block if IRS taxes them.

We can all "accidentally" under pay our taxes using Turbo Tax like Tax Cheat Geihtner now

***NEPatriot*** · 06-05-2009, 10:09 PM

I have to give Obama a credit for 'trying' to get money from everybody to compensate for the loss. If he can't get it from us, he tries to do it with companies. Obama NEVER STOPS TRYING to keep his EXPENSISVE spending and PROGRAM running .

***IcyPatriot*** · 06-05-2009, 10:12 PM

Quote:

Originally Posted by NEPatriot

I have to give Obama a credit for 'trying' to get money from everybody to compensate for the loss. If he can't get it from us, he tries to do it with companies. Obama NEVER STOPS TRYING to keep his EXPENSISVE spending and PROGRAM running .

Governments have been doing that for a long time

Quote:

http://www.taxworld.org/History/TaxHistory.htm

EGYPT

During the various reins of the Egyptian Pharaohs tax collectors were known as scribes. During one period the scribes imposed a tax on cooking oil. To insure that citizens were not avoiding the cooking oil tax scribes would audit households to insure that appropriate amounts of cooking oil were consumed and that citizens were not using leavings generated by other cooking processes as a substitute for the taxed oil.

GREECE1

In times of war the Athenians imposed a tax referred to as eisphora. No one was exempt from the tax which was used to pay for special wartime expenditures. The Greeks are one of the few societies that were able to rescind the tax once the emergency was over. When additional resources were gained by the war effort the resources were used to refund the tax.

Athenians imposed a monthly poll tax on foreigners, people who did not have both an Athenian Mother and Father, of one drachma for men and a half drachma for women. The tax was referred to as metoikion

ROMAN EMPIRE

The earliest taxes in Rome were customs duties on imports and exports called portoria.1

Caesar Augustus was consider by many to be the most brilliant tax strategist of the Roman Empire. During his reign as "First Citizen" the publicani were virtually eliminated as tax collectors for the central government. During this period cities were given the responsibility for collecting taxes. Caesar Augustus instituted an inheritance tax to provide retirement funds for the military. The tax was 5 percent on all inheritances except gifts to children and spouses. The English and Dutch referred to the inheritance tax of Augustus in developing their own inheritance taxes.

***DarrylS*** · 06-06-2009, 04:47 AM

Loopholes coupled with unpaid taxes are huge issues, and tightening up here would go a long way with this.. have run into people who brag about how they beat the US on taxes... usually walk away.

PatsFanInVa · 06-06-2009, 12:07 PM

Quote:

Originally Posted by IcyPatriot

when those loopholes are closed Obama's people can then offer big breaks to companies doing business here and especially those companies producing things here. China won't be happy, nor will Japan or Mexico or the dominican Republic ... but too bad.

Guess what the horrible, terrible weak dollar does to demand for American goods and services? Makes them more attractive, of course.

Also of course, that's not what one wants to rely on to attract business. In a global economy, however, the historically wealthy working and middle classes are in competition with the historically poorer working and middle classes elsewhere.

Essentially, back when they invented the Euro, I believe it was worth a buck, just as a starting point, but not pegged to the dollar. Maybe my memory's wrong, but let's pretend that's the case.

So when a euro is worth a buck, and you have to pay 1000 Euros in taxes, labor costs, etc. etc. etc., to produce goods in say Germany, and 1000 dollars to produce the same goods here, and transport for said goods costs 100 dollars or euros, a company exports nothing and imports nothing. It uses its German plant for German goods, and its American plant for the American market. Otherwise it spends 1100 of either currency to sell the same goods by moving them elsewhere.

Now: fast forward to where a Euro = 1.5 bucks. Say you spend 1000 dollars and 1000 Euros on said costs, and transport costs 100 euros (150 bucks.)

That thing you made in Germany costs 1500 bucks, plus 150 bucks for transport. 1650 bucks. You can make it for 1000 bucks in America. Granted, costs adjust upward when the currency is worth less, but the gap still remains. A country with a weaker currency does not adjust all the way to the cost standards of a country with a stronger currency.

Badda bing, badda boom. Unless we all go down the toilet together, and at the same rate (we are all going down the toilet, indeed, but taking different routes to do so.)

Long story short, the weak dollar is good for jobs, but bad for inflation (think expensive rather than cheaper imported goods.)

You probably knew all that but it is worth getting out there. You want a big trade deficit? Have a strong dollar. You want a narrower trade deficity? Have a weak dollar, but you also get inflation.

PFnV