Furious dealing with IRS

This is a discussion on Furious dealing with IRS within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Generally meals and incidentals under $25.00 does not require a receipt. At the link below is the record keeping section of pub 364. I have ...

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  1. #16
    Senior Member Array rolyat63's Avatar
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    Generally meals and incidentals under $25.00 does not require a receipt. At the link below is the record keeping section of pub 364. I have traveled under the FAR for 30+ years and the we've followed the 25 dollar rule. Some companies are have been more stringent but the FAR permits it with records just like the table referenced. Make yourself a weekly "expense report" with all of he elements required from their pub.

    Publication 463 (2011), Travel, Entertainment, Gift, and Car Expenses

    IF you have expenses for . . THEN you must keep records that show details of the following elements . . .
    Amount
    Time Place or
    Description
    Business Purpose
    Business Relationship
    Travel
    Cost of each separate expense for travel, lodging, and meals. Incidental expenses may be totaled in reasonable categories such as taxis, fees and tips, etc. Dates you left and returned for each trip and number of days spent on business. Destination or area of your travel (name of city, town, or other designation).

    Purpose: Business purpose for the expense or the business benefit gained or expected to be gained.

    Relationship: N/A
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  3. #17
    VIP Member Array Eagleks's Avatar
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    There are over 3.8 million words in the IRS tax codes. Think about that.

    Fair or Flat tax would solve that and save costs on IRS agents, buildings, paper, computer space / maintenance, etc. and headaches by the taxpayers. One reason they'll never do it..... too many accountants, CPA's, etc jobs all depend upon it. Also Companies like H&R Block, Turbo Tax , etc. would all be out of business. Companies would need all of those tax accountants, etc as well. Tax attorneys, could be looking for a new avenue to make income in the legal system.
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  4. #18
    VIP Member Array nedrgr21's Avatar
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    Careful with the Fair/Flat tax - I believe the people promoting it aren't telling the whole story. According to The Tax Foundation, about 33% of all people who filed owed no tax and 1/2 of those received a refundable credit, the number increases to 40% when you include people who were not required to file. Then there's all the people that fall into the category of having an average tax of less than 25% (or whatever flat tax rate one wants to argue), which is quite different than having a marginal tax rate of 25, 28, or 35%. When these people are educated on how this works, I doubt they'd support it. I have doubts about guys like Buffet and Gates talking about claiming they pay too little in taxes; why don't they just send a gift to the federal government? Yes, there's the argument that everyone pays their share/something, but there's also the argument that the top 20% who pay the most taxes benefit the most from government services - a regulated investment environment, infrastructure that enables the efficient movement of people and goods, etc; they tend to discount these benefits b/c they think nothing of the hidden costs to provide those benefits. I'm also aware of people using refundable credits based on the # of children using the $$ for entertainment instead for the children. I know there are gov't officials who get paid to do nothing, but I've also seen union workers getting paid ludicrous amounts for the services they provide. The flat tax examples I've seen show a lack of a basic understanding of accounting principles that have been recognized to put things on a more even keel among businesses. The reason the tax code has gotten complicated is a response to people abusing a more simple system and to recognize a difference in the value of different contributions to society - and, yes, the input of politics. Even if the slate is wiped clean now, it will get muddy again shortly. The flat tax form I have seen is virtually no different than a 1040EZ, and the "no tax" scenarios are already present in the current system. The problem I see mostly is people have been told the system is complicated so often, they don't even try to understand it. Most people's situations are simple and completing a tax form is very straightforward. People with more complicated returns with the current system will have a "business form" to also fill out, thus complicating their return once again.

    I don't claim to know the answer, but I doubt such a simple answer is the solution - it seems to be completely oblivious to the myriad of situations encountered in real life.
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  5. #19
    VIP Member Array nedrgr21's Avatar
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    Also, think of the Saturn concept - it was billed as everyone pays the same price so there was no haggling and it was "fair"; reality was that everyone paid sticker but you could already do that at any car dealership and the markup was no different than other makes. Bottom line is that it failed as people figured out what was actually happening. It's just another stab selling the American public a bill of goods.

  6. #20
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    The Tax Reform Act of 1980 did a significant job of reducing complexity too. We went from something like 35 tax rates to five, among a host of other changes. What we all knew though, was the number of rates did not equal complexity. The complexity is in the definitions of "income", deductions, and the like.

    The "Code" was one volume when I started, it is now two. The Regulations were three volumes, they are now five.

    It's a matter of definition. Here is a simple and flat tax:

    Line 1: What did you make? $______________

    Line 2: Send it in: $_____________


    Cheers. I am tired of taxes for now.

  7. #21
    Distinguished Member Array deadguy's Avatar
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    Quote Originally Posted by WHEC724 View Post
    It is amazing to me that we can't even own the land that we live on. My home was assessed at greater than market value last year, and I had no recourse. Even though the property is paid in full, I still feel like I'm a renter.
    Our County government doing its best as always. Happened over here too. Had my house not been on the market I would have appealed.
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  8. #22
    Senior Member Array rolyat63's Avatar
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    Double post
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    VIP Member Array packinnova's Avatar
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    Quote Originally Posted by glockman10mm View Post
    Funny how we were free sovereign people prior to 1891, with the ability to own and earn, without a by your leave or tax on owned property or earnings, and now as citizens we will never really own anything without owing a tax or make an earning without owing.

    They got me good this year. I think I'll go down to the creek and throw a few Lipton tea bags in to protest.
    Be careful. The EPA might read this thread.
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    VIP Member Array farronwolf's Avatar
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    If I hadn't been recovering from this past tax season, I would have answered your question earlier.

    What has been posted previously is right on. Meals/Incid you can use the per diem, everything else you have to have reciepts. Usually the motel reciepts will suffice to show that you were in X town Y number of days for calculating the number of days you use the per diem rate for.

    We have an entire new batch of auditors here now. I am getting along fabulously with them. They like my work and haven't found any changes or adjustments in the last two corporate audits they have done. They are doing their job. If you are respectful of them and their possition, things usually go fine. If they are wrong, show them why, if you or the client is wrong, admit it. Most things can be worked through with some tact.
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  11. #25
    Distinguished Member Array phreddy's Avatar
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    Count me as a CPA who is all for simplification of the tax code. It is too complicated and allows for too many games to be played by the politcians.
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  12. #26
    Senior Member Array CowboyColby's Avatar
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    As a cattle producer sending a 1099 to anyone I lease ground from to pasture my cows on is a royal pain. I don't know year to year who I will lease ground from or for how long or how much.

    Along with providing a 1099 to anyone who does day work for me if resulting in over $600. Day work wages are at $125/day around here. That means I can I can only use the same guys 4 times each which isn't much when you figure in branding time, weining time, gathering to change pastures, any help with fence work.

    I'm sure there are many worse things but this is a big pain to me
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  13. #27
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    Cowboy Colby:

    Quickbooks is your friend! Set up your vendors correctly and just push a button at YE for 1099's. Kind of..........

  14. #28
    VIP Member Array varob's Avatar
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    This is a little off subject, but one thing that makes me furious when calling a U.S Government agency is having to dial 1 to speak in english. In the USA you have to press a number to speak to our Government in our language.
    Don't believe what you hear and only half of what you see!
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