Sunday, August 23, 2015

Shrink the Bureaucracies!

The following only deals with the IRS by examining a portion of their involvements. This is about the publications and of the total governmental functions, agencies and the size of the list of publications, offices and officers.
 

Look at what the IRS controls or want to control.

There have been E-mails that cite the IRS as wanting to do away with cash. That will mean you cannot sell used items for cash. Those who purchase coin, stamps, art or sell to pawn shops, etc. will be reported or restricted

Donations to Grandchildren are bank reported if they are $10,000 or more.

Your 401K is limited in size. What about the persons that had a financial crisis who are trying to catch up?

Donations to charities are required to be reported in more and more detail.

The IRS scandal is about denying active political party membership to tax exempt status:

 A top official with the Internal Revenue Service dropped a bombshell. IRS staffers had singled out conservative organizations with "tea party" or "patriots" in their name that were seeking tax-exempt nonprofit status, subjecting them to extra scrutiny to see if they were abusing the tax law as it relates to political activity.

Maybe I will be audited for writing this. Think about the cost of running the IRS bureaucracy costs the Federal Budget.

Ask yourself why the IRS is so indulgent in your personal finance.
The best thing that can happen to America is reduce the tax code, and the IRS.

There are 24 Employment Tax Publications.                                                         24
There are 10 publication for Starting and Operating a New Business.                  10
There are eight General Business Expenses publications.                                   08
There are eight General Forms.                                                                            08
There are four Specialized Forms.                                                                        04
There are eight Employee Benefits forms.                                                            08
There are eight regulations on the Excise Tax for indoor tanning services.   08
There are ten publications for collecting the tax, filing Form 720 and pay the tax related to Indoor Tanning as well as calculating the tax.                                    20
There are Excise Tax publications for:                                                                09
Online Form 637 Registration Status Check
Exemption
from Excise Tax for Certain Wooden Arrows


As a Self-Employed Individuals there are:                                            10


For Small Business there are eleven publications.
·        Small Business Forms and Publications
Download multiple small business and self-employed forms and publications.

·        Employer ID Numbers (EINs)
Find out more on EINs or apply for one online.

·        e-File Form 940, 941 or 944 for Small Businesses
Learn your options for e-filing Form 940, 941 or 944 for small businesses.

·        Starting, Operating, or Closing a Business
Important tax information related to the various stages of owning a business.

·        Employment Taxes
Federal income tax, Social Security and Medicare taxes, FUTA, self-employment tax and more.

·        Independent Contractor (Self-Employed) or Employee?
It is critical that you, the employer, correctly determine whether the individuals providing services are employees or independent contractors.



And the list goes on.   There are neither space nor time to continue!

 
·        Self-Employed Individuals Tax Center
The basics on self-employment, filing requirements, and reporting responsibilities for independent contractors.

·        Information Return Filing Requirements
If you made or received a payment as a small business or self-employed (individual), you are most likely required to file an information return to the IRS.

·        IRS Video Portal
Video, webinars and audio presentations for small businesses, individuals & tax pros.

·        Small Business Events
Workshops and webinars on a variety of topics for small businesses.

·        Online Tools & Educational Products
Choose from a variety of products,

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