I think the IRS should be stopped in their attack on the middle class. It's shameful how the IRS and Congress can look a blind eye at corporate tax scams and instead focus on innocent family members years/decades latter.
I can see the IRS going after the estates of deceased persons to collect back taxes, even the ill gotten gains of family members if such has happened knowingly or not. But this current IRS scheme is way over the top.
A similar scam is happening to ex-pats and their children who are citizens of other nations such as Canada. This is the government as "collection agency" after the low hanging fruit instead going Wall Street crooks like Goldman Sacks et al...
The IRS out sources this "stuff" - as Joe Biden might say. It's become a shakedown operation like a criminal loan shark scheme. I've not gotten any letter from the IRS - just a pissed off citizen... I may join the Tea Party!
Here's an example of what's wrong in the tax code:
Intel polluted our air with fluorides for 30 years and lied about it to DEQ and still get tax breaks galore: SIPs, property tax abatements and now this... I believe in R&D but I want proof of such on an annual basis reported to the state and feds. Intel is the largest employer in Oregon and yet this past year had a $40,000 negative income tax! What a deal...
"Tax breaks being closely watched by businesses in Oregon are gaining traction in Congress and could pass this spring. The business tax credits, called extenders, can mean real money. The popular research-and-development credit, for example, lowers Intel Corp.'s federal tax rate by 1.5 percentage points – saving Oregon's biggest private employer $189 million in a year…
More tax schemes for the 1% -
- The Red Tory