/biz/ - Business & Finance

[Anonymous No.8672475]

is it true filing income tax is just voluntary?

[Anonymous No.8672489]

>>8672475
Yeah, and they will voluntarily put you in prison.

[Anonymous No.8672557]

>>8672489
Realistically, what could the feds do if hardly anybody filed. Just curious.

[Anonymous No.8672586]

>>8672475
Actually filing is voluntary, whereas paying the tax is mandated through code. There are ways to pay taxes without the 1040 system, but its complex and usually done only by the wealthiest or savviest citizens.

[Anonymous No.8672590]

Considering the American government had to shut down recently due to lack of funds and is on the verge of collapse, not much. They don't have control over the large majority of exchanges or themselves.

[Anonymous No.8672612]

>>8672586
>only done by the wealthiest
The wealthiest just pay someone else to do it

[Anonymous No.8672618]

>>8672557
knock on your door with a GPS guided bomb and then move on to your neighbor.

[Anonymous No.8672624]

>>8672557

well 99% of people already pay the majority of taxes via paychecks since they are wageslaves

[Anonymous No.8672697]

>>8672557

It's a trust based system. People bitch about taxes, but most generally will pay it because they understand it's needed to pay for government services, and they understand they will be imprisoned if they're ever caught in the low chance they are audited. If you're self-employed or trade a few bitcoins here and there, the odds of you getting audited are incredibly low, they tend to go after the big tax dodgers.
Hypothetically, the government would be completely fucked and become insolvent. Perhaps introduce a federal sales tax which would be harder to get around and tariff the shit out of anything imported from foreign soil.

[Anonymous No.8672806]

>>8672697
I can tell by that answer you're pretty young, naive and havent been in the workforce for very long.
Do a bit of research on where every penny of what you earn goes to. I mean EVERY penny.
Federal income tax
State income tax
Local income tax
Employee social security tax (your employer pays the other half)
Employee Medicare tax (your employer pays the other half)
Property taxes
Road toll charges
State sales tax
Driver's license renewal fee
TV Cable/Satellite fees & taxes
Federal telephone surtax, excise tax, and universal surcharge
State telephone excise tax and surcharge
Telephone minimum usage and recurring/nonrecurring charges tax
Gas/electric bill fees & taxes
Water/sewer fees & taxes
Cigarette tax
Alcohol tax
Federal gasoline tax
State gasoline tax
Local gasoline tax
Federal inheritance tax
State inheritance tax
Gift tax
Bridge toll charges
Marriage license
Hunting license
Fishing license
Bike license fee
Dog permit/license
State park permit
Watercraft registration & licensing fees
Sports stadium tax
Bike/nature trail permit
Court case filing fee
Retirement account early withdrawal penalty
Individual health insurance mandate tax
Hotel stay tax
Plastic surgery surcharge
Soda/fatty-food tax
Air transportation tax
Electronic transmission of tax return fees
Passport application/renewal fee
Luxury & gas-guzzler car taxes
New car surcharge
License plate and car ownership transfer taxes
Yacht and luxury boat taxes
Jewelry taxes & surcharges
State/local school tax
Recreational vehicle tax
Special assessments for road repairs or construction
Gun ownership permit
Kiddie tax (IRS form 8615)
Fuel gross receipts tax
Waste Management tax
Oil and gas assessment tax
Use taxes (on out-of-state purchase)
IRA rollover tax/withdrawal penalties
Tax on non-qualified health saving account distributions
Individual and small business surtax (page 336 of Obamacare)
Estimated income tax underpayment penalty
Alternative Minimum Tax on income
Business Taxes & Fees

[Anonymous No.8672839]

If they want my money I'd be happy to let them come in and do all the work for me. But until then, i'm not lifting a finger, and they can't make me!

[Anonymous No.8672960]

>>8672806
No, that anon is right. A big part of the tax income comes from trust. The IRS frequently complains of the revenue they lose simply because people are fed up with their poor serivce, long wait times, etc. and just don't bother doing their taxes.

[Anonymous No.8672968]

[Anonymous No.8673551]

>>8672968
I actually wrote off TRUMP and BLRY last year lol

Anyway any government institution that collects money is a textbook definition of a racket.
>tfw liberal parents bitching that car didn't pass inspection because license plate wasn't shiny enough
>so they had to buy a new plate from the state
>and then get it reinspected to get the graces of the state
It's the future you chose