Tag Archives: irs

U.S.

Martial Law U.S.A.: Tax collector IRS turning into domestic spy agency!

11 June 2013 (13:55 UTC-07 Tango)/02 Sha’ban 1434/21 Khordad 1391/04 Wu-Wu (5th month) 4711

The Government Services Administration (GSA) has published a Purchase Order (PO) for the Internal Revenue Service (IRS).

The gist is; the IRS is seeking to buy hidden cameras and clock radios: “Plant Concealment Color 700 Lines Color IP Camera…..Covert Coffee tray with Camera…..DVD Burner and 2 Internal HDDs, cameras…..Concealed clock radio…..Color IP Camera Concealment with single channel network”.

What does a tax collection agency need with hidden cameras, and even a hidden clock radio?  Visit the GSA’s www.fbo.gov website to see the PO for yourself!

 

Business/Economics, U.S.

Government Incompetence, What Economic Recovery? IRS fails to refund millions in taxes, blames postal addresses. Part of scheme to shut down U.S. Postal Service?

There are reports that the tax collector of the U.S. government, the Internal Revenue Service (IRS), is holding back on refunding $153 million in overpaid taxes!

IRS officials claim it’s because of postal addresses they just don’t trust.  So they’re not going to mail them out!  99,123 U.S. taxpayers are waiting for those refunds!

Here’s the sinister answer the IRS has for solving the ‘problem’: Everyone needs to stop using the postal system and use direct deposit!

To check the status of your tax refund click on the “Where’s My Refund” at the IRS website.

Business/Economics, International, U.S.

Occupy Wall Street, Class War: Latest study says Big Corporations do not pay their fare share of taxes

Not only are many of the biggest corporations reporting big profits, they’re paying small taxes.  The official tax rate for corporations is supposed to be 35%, but the latest study shows the average effective tax paid is about 18.5%.

Some corporations pay no taxes, and a handful actually have negative taxes!

280 companies in the Fortune 500, that were profitable for all three years between 2008 and 2010, were studied.

111 companies paid effective tax rates of less than 17.5% over the three-year period.  98 paid a rate between 17.5% and 30%.

The average rate is 18.5%.  But wait, there’s more.  Some companies paid zero taxes!  30 actually owed less than nothing over the three years!

Two of those corporations are Pepco Holdings and General Electric.  Over the 2008 to 2010 period Pepco made $882 million in profits, but had a tax rate of -57.6% (yes, put a negative sign in front of that)!   But here’s a bigger shocker: GE earned $10.5 billion, with a tax rate of –45.3%!   How do you make big corporate profits, and then effectively have the government owe you money?

Lobbyists hired by Corporate America convince your elected lawmakers to create more corporate tax breaks.

The study was done by Citizens for Tax Justice, and the Institute on Taxation and Economic Policy.

Business/Economics, U.S.

Government Incompetence: IRS will not collect lost tax revenues caused by FAA shut down, airlines get away with not paying taxes

Recently it was announced that the U.S. Senate made a deal that would put thousands of FAA employees, and contractors, back to work.  This after it was revealed that the government was losing hundreds of million in tax revenues from the FAA shutdown.  Those loses far outweighed the savings from not having to pay the laid off FAA employees.

Now the Internal Revenue Service says they will not attempt to recover those lost airline ticket taxes.  IRS officials say they were ordered by the U.S. Senate not to collect taxes on ticket sales relating to flights made during the FAA shutdown.

Also, people who flew during the FAA shutdown, but bought their airline tickets before the FAA shutdown, will not get the taxes they paid refunded.  Since the airlines are not required to pay the IRS the taxes they collected, on tickets for flights that occurred during the FAA shutdown, essentially the airlines made some free money.