The FED is aware. They have no firm plans to combat inflation. Stocks and commodities will rise along with everything else as they will continue to inflate. You can't just sit on your cash and wait for a crash; you have to put your money to work, start investing gently, and then pick up the pace as the prices fall further.

@waltzwalter

Жыл бұрын

The market is continuing declining, so I've been researching tactics. It seems that there are equal opportunities to make significant gains in both bull and negative market conditions; after all, I've heard of people gaining up to $300k during this crash, and I'd like to know how.

@Elska2

Жыл бұрын

@@waltzwalter study study study......fortunes are not just handed out, it takes work to learn how to gain Alpha during a Beta period.

@aznosu

Жыл бұрын

lol are you telling the 70% of Americans who live paycheck by paycheck to do better with their income? Or are you talking to the top 5% who have access income and is already doing what you are saying. It's funny how out of touch the top is to what is really happening. By hoarding all the wealth at the top and coming up with a credit card Debt system, those who run the US is about to destroy it. Have you noticed the increase in crime... do you know what that reflects? It is the result of a economic system that doesn't work for more and more Americans hence what does one do when they are playing a game and the rules don't make it fair... they start breaking them. Are your eyes open now... are you awake to what kind of advice you should give. You should tell the top that they will lose everything bc the starving population isn't going to sit there are starve... they are coming to take things as they please. There isn't enough law enforcement and the US already has the more prisons. There will be no country if the trend keeps up.

I heard that in Japan, the tax department sends the filled out form to you and you just have to make sure it is correct, sign it, and send it back to them.

@MOBMJ

Жыл бұрын

france is like that too, as well as many other countries

@Misaka-gt5yj

Жыл бұрын

Too bad American tax prep companies lobby massive amts of $ to congress to prevent that from happening. It makes you spend more money on those companies to prep your taxes as they try to make it more and more obnoxious.

@tedlahm5740

Жыл бұрын

10 years from now, same thing will be here. The tracking/reporting of everything you do (financially) is reported directly to the IRS.

@ChristianRunsNY

Жыл бұрын

Thanks to Turbo Tax and other companies profiting off tax returns and being the ones donating to the candidates, it isn't going away

@aznosu

Жыл бұрын

Sorry but the US is an economic system that is rigged for the wealthy. It is unfair and it created the credit card to keep slavery alive so that the top can hoard more and more of the wealth. It will collapse bc more and more at the bottom are starving and angry. Why does the country with the biggest GDP result in a country full of crimes and the population is unhappy... Americans are too proud, or uneducated to learn from other countries so there will be a collapse that was always preventable.

“There’s more and more of a concern that incoming data is revealing that the Fed might be a little bit behind the curve than maybe they expected heading into this year,” said Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months.

@graceocean8323

Жыл бұрын

@Finest Bear Hug You will need a strong FA to help you through the current market turmoil. I've been talking to a coach named Maria Juliana Ramirez for a long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

@mcginnnavraj4201

Жыл бұрын

@@graceocean8323 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?

@graceocean8323

Жыл бұрын

@@mcginnnavraj4201 My Financial Advisor is MARIA JULIANA RAMIREZ. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

@tampabayrodeo2474

Жыл бұрын

I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.

@mcginnnavraj4201

Жыл бұрын

@@graceocean8323 Maria Juliana Ramirez appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.

IRS goes after the small fishes ($100K or less households) and not the whales (multi-million dollar households or corporations.) The whales have tax lawyers and accountants who have worked for the IRS and know ins and outs of all the loopholes that newer agents who haven't study thousands and thousands of volumes of tax codes.

@aznosu

Жыл бұрын

Yep bc the small fish don't have the time and resources to fight it.... the fall of the US is near.

The irs is so unhelpful when you call they don’t help you with the tax code at all. Plus they’re incredibly rude.

The only time I get audited is when I get my taxes professionally done. If I do my own taxes, they are 100% correct.

@jasonpark1556

Жыл бұрын

​@@CNBC09reported

@thedude9461

11 ай бұрын

Lol

They still audited me due to a supposed discrepancy of $2.40, which I disputed and ended up winning.

@kenc2257

Жыл бұрын

Wow. Auditing someone over $2.50 just doesn't make sense. [even if the IRS did this over the mail, with the cost of postage and labor, it was a money-losing proposition]

@mrbn2022

Жыл бұрын

@@kenc2257 It happens all the time. When I was a teenager in the '70s making under $1000 a year part time after school I was audited for $10 - yes ten dollars. It probably cost them ten times that to "get" me

@HaimRich94

Жыл бұрын

@@mrbn2022 It didn't cost them more, it cost you more. Remember that you pay for their job ;)

@Noexcusis

Жыл бұрын

​@@kenc2257they spent more money going after you then 2.40

Just tell me what I owe. They're like nah, we're gonna have you jump through flaming hoops 🔥

Here is how the IRS works. They know how much money you owe them, and they require you to fill out forms hoping to figure this number out. If you claim too much of your money back, they investigate you. It's basically a protection racket.

@kenc2257

Жыл бұрын

What I got from this video clip, is that the IRS audits infrequently, unless it's something relatively easy/straight forward, like the complex/confusing (for taxpayers) EITC.

@christopherdixon4472

Жыл бұрын

A protection racket that doesn't actually provide any protection.

Under funding government agencies is the quiet way to either make them look incapable and therefore seem better if replace by a corporation or simply strangle the agency. For the IRS, big donors want the agency to be too broke to be able to afford to audit them.

The IRS is also commonly referred to as the KGB

The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?

@Curbalnk

Жыл бұрын

We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.

@anthonyrussell5718

Жыл бұрын

@@Curbalnk There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.

@glenbert1396

Жыл бұрын

@@anthonyrussell5718 I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders

@glenbert1396

Жыл бұрын

@Alexis Anders Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "KAITLIN ROSE STERNBERG" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

@javierisaai

Жыл бұрын

Buy TSLA. Thank me later.

You know other countries don't do this. We should reform this.

@Hans-gb4mv

Жыл бұрын

Why would you think other countries don't do this? It's an easy cost saving for so many governments and one most people won't complain about. I've never been audited in my life and probably never will be. And yet, if they audited me today, it would cost me a lot of money due to a mistake a few years ago when I was living abroad.

@djpuplex

Жыл бұрын

@@Hans-gb4mv 88% of people take the standard deductions. Most banks, brokerage, websites and all employers report income. Forcing people to cross T's and dot I's is inefficient.

@TheGuitarHero666

Жыл бұрын

Sadly they’ll never reform it. Companies like TurboTax have been picketing from the get go and they’ll never let their profits go down the drain.

@anonymous05067

Жыл бұрын

@@Hans-gb4mv they usually only audit big companies and people with businesses only. Heck, they don't even have enough staff to answer phone call. Everytime, I need to call them, it takes couple hours to get through. As matter of fact, the IRS staff calculates our 1040 by hand calculation. It will take them forever to audit one tax return.

@djpuplex

Жыл бұрын

@@anonymous05067 A couple hours I called and was told after being in hold for 45 minutes our computers aren't working and won't be working until January 13th this was in September. One time I call at 7am on the dot when the specific line was to open up and woke up the person out of bed, these idiots are working from home and just letting the phone ring.

I love how you put this out on April Fool's 😂

@chadwolf3840

Жыл бұрын

As if the IRS has a problem "funding the government". Nice spin CNBC, the Government has a massive spending problem is the issue.

Just imagine if the USA was a first world country. We wouldn't need huge numbers of tax agents because the system would be automated. Manually review people's tax returns? Are you INSANE?

@davidcantor293

Жыл бұрын

Such a waste. I hope AI eventually takes over the job. Maybe people who cheat the system will actually be held accountable.

@jtgd

Жыл бұрын

You need digital automation to be a first world country?

@Hans-gb4mv

Жыл бұрын

There is no way to automate it all. Tax law is very complex and it is easy to make mistakes, be it intentional or not. There is so much nuance between something that is legal and something that isn't. And there are so many exceptions, often negotiated that you can't just give a computer a set of basic rules and ask it to check over something. Some countries have tried to use machine learning to identify tax returns that might have a higher risk of having something wrong. And generally speaking, those systems are turned off within 2 to 3 years. Either because the ROI was negative, or because the system was accused of racism and discrimination.

@themomaw

Жыл бұрын

@@Hans-gb4mv Simplify the tax laws. Our current system is fundamentally flawed, as demonstrated by billionaires who pay less in taxes than people who are actually important to society like teachers and doctors.

@timberwolfe1645

Жыл бұрын

There are HUGE loopholes on automated. What's not in the taxes are what the billionaires LOOPHOLE or LEAVE OFF. One has to LOOK for those

When a man makes money, LET HIM KEEP THAT MONEY

If you are rich, NO. If you are poor, working class, YES

@B86432

Жыл бұрын

chalk it up to the "willingness to pay for calm tone" - remember the 2020 election

“What is your annual income, as an individual? Ok. Give us $___” “What is your annual revenue, as a corporation? Ok. Have a nice day!”

I'd be just a bit less anti-IRS if the government actually spent my money effectively and efficiently. Alas...

@KamiInValhalla

Жыл бұрын

That's not an IRS issue though. The IRS doesn't create and pass the US budget. You are barking up the wrong tree bro.

@kenc2257

Жыл бұрын

The IRS just "collects" the money...the Congress controls the purse strings (the Congress also writes the Tax Code).

@christopherdixon4472

Жыл бұрын

​@@KamiInValhalla that doesn't obsolve them of their role as the agency stealing money from people to pay for that budget.

@Misaka-gt5yj

Жыл бұрын

They will just spend it on hamster fight clubs and counting amberjacks.

@christopherdixon4472

Жыл бұрын

@@Misaka-gt5yj if we're lucky

The question SHOULD BE, "Why Is The Government Still Struggling To Live Within Its' Means?" People have to, companies have to, why should our government be exempt?? 25% of TOTAL US 2022 4TH quarter tax revenue was required just to pay THE INTEREST ON OUR NATIONAL DEBT! Just let that sink in for a few minutes.

Get rid of the IRS all together, budget problem fixed

@dannnyyang

Жыл бұрын

you want to collapse the federal government lmfao

There are no need for taxes or the IRS 🤷🏾‍♂️

I think a great funding value for the irs next year is $0.

@spicychad55

Жыл бұрын

Good, don't expect there to be maintained roads, healthcare, military, etc. Let's go for $0!

In other countries, their taxing agencies figure out people's taxes for them, and simply send them a bill with the option to modify it if there are unreported income or deductions. The IRS could do the same; they already get documents from employers, banks, investment businesses, and other things, and they use that information to figure out your taxes so they can compare it to the tax forms you send in to make sure you didn't make mistakes. The IRS doesn't do your taxes for you because the tax prep companies lobbied congress and begged congress not to take away their goose that lays the golden eggs. Congress, of course, told the IRS they can't do that. Think about how much the money the IRS, and you, could save if they didn't have to try and figure out if your submitted taxes matched the taxes they've already calculated for you.

@steveg9302

Жыл бұрын

This is true, but you can't forget that the Supreme Court has ruled and solidified certain legal axioms that are unique to U.S.A.'s tax system. The main one being that technically, we operate on a "voluntary" tax system. Now, that's not to say that you are allowed to opt to not pay taxes, but it does mean that there are several government overreach issues that must be adhered to by the federal government which include privacy overreach. This is also why our tax code is so incredibly complicated. You ever wonder why no presidents of late have managed to simplify the tax code? Or why congress seems to be in a forever back-and-forth with regards to tax code reformation? You may think it's because of special interest and lobby groups... well, that is only a small part of the story. The main reason is because the tax code has been designed keeping the aforementioned legal axioms in mind that emphasize privacy and government overreach. You see, USA didn't have a federal income tax for its first 200 years of existence (unlike most other countries in the world). So the "federal income tax" is technically still an "ongoing experiment" here if you will. The IRS is still carving out its strategy to, on the one hand, effectively collect the tax, while, on the other hand, not snooping in everyone's bank accounts, having access to everyone's financial and banking situation. For example: the IRS is entitled to meta-data from one's banking behavior, but is not allowed to know WHAT bank a person uses. The IRS is allowed to dates and transaction amounts, but is NOT allowed to know who initiated those deposits onto one's bank. This makes it incredibly difficult for the IRS to figure out a person's financial situation until an audit has been conducted. That brings me to the next issue: audits. Do to the high emphasis on privacy protection, the IRS is virtually incapable of getting the "high earners" as they will be entangled in law suits for years upon years, which will cost more money than what an audit can usually yield. Which is why they don't pursue the rich. They actually target the middle class and the poor. I am willing to bet that the IRS really only targets low-to-middle-class W-2 earners who have all the red flags of side-income. It's the easiest way for the IRS to make an audit worth it. It's the so ccalled "low-hanging fruit". middle-to-upper class earners typically make their wealth through capitol gains and investments and businesses. The third class of earners that aren't heavily pursued by the IRS is the self-employed since they can have countless different income sources. These latter two groups pose a maze in terms of audits.. which is why they aren't heavily targeted. At the end of the day, USA is still a country that proioritizes freedom. And income tax doesn't really fit into the concept of freedom that well. It's why the IRS has become a bloated, ineffective, bureaucratic mess that all other agencies sort of steer clear from. There are congressional hearings here on youtube where the secretary of treasury literally admits that the agency is completely and utterly disorganized and out of control. It has become the hot potatoe of agencies that republican politicians like to underfund (as they like the status quo of inefficiency) and the democrats like to throw money at (while never resolving the root issues of why the agency doesn't operate effectively. You see... sometimes, when a system is broken, it actually works. And this is what the IRS has devolved into: a broken system that works.

Imagine if Americans got to keep their hard earned dollars and spend it on their own needs.

@B86432

Жыл бұрын

they would be voting republican then

@pdxmusl1510

Жыл бұрын

I absolutely hate this agreement. Government needs to be funded. If you don't want to participate... leave the us... That said... theres a perspective problem. If your company is paying you 50k... really... thats not your pay. You should be concerned about what ypur paycheck is more than what your total pay is. 100k 150k... etc.. none of that matters..

@frankthomas2410

Жыл бұрын

Except if you have money, they tax you to leave 😂

So yall not gonna talk about government corruption and ridiculous spending.

They need to audit millionaires and billionaires instead of single parents

@KevinSmith-qi5yn

Жыл бұрын

More than 10% of tax returns for people earning more than a million in a year get audited verse less than 1% for people earning less than $200k. The only reason a person making less than $200k will be audited is if there are obvious red flags.

@tijmenberends242

Жыл бұрын

Someone didn't watch the video

@nicholaslayton6199

Жыл бұрын

You do realize the million and billionaires pay the most taxes right

@B86432

Жыл бұрын

single parents dont have legal teams

@tedlahm5740

Жыл бұрын

Sadly incorrect. The people you mention ALL USE high price tax lawyers to prepare and SIGN the return. Any errors the attorney responds.

Lack of IRS funding is the real April's Fool joke

@IllIlIIllIlIIIll

Жыл бұрын

They've got money for guns and ammo..

" budget cuts had made it difficult for the IRS to carry out its duties" Lets cut their budget even more!

@Acteaon

Жыл бұрын

Duh!

Ban the IRS. Government spends too much

this how irs robs you

Grew up in the states before, I left and I never understood USA taxes. In South Korea unless, your self employed very few people the majority of people who work for a company that's their responsibility to file your taxes since you work for them. The only things you file is deductions or property if you own property the biggest, complaint the tax filing site might be down from high demand depending when you file. In the EU, takes 5 mins the finance ministry sends every working person a copy of their taxes you say yes or no make corrections if need send back in mail done government files for you all free. The usa tax system is a ponsy scheme, America doesn't do alot of things very well.

@CHRIS-tg5cn

Жыл бұрын

At least our neighbor to the north isn't run by a a guy named Kim.

BIg Corp plays with tax code, and we regular citizens can't. and we end up paying a big chunk of taxes. Also When we have an ex-president that pays more taxes overseas than here.

Love how when IRS accidentally stops by someone house just before they testify News organizations run reports like this. (Matt Taibbi)

@chadwolf3840

Жыл бұрын

With some convenient spin that it's the IRS responsible for "funding" the excessive spending of our elected officials, rather than the elected officials spending way more than the IRS collects. What a jokey ass government spin video out of CNBC.

@kurttuchscherer7706

Жыл бұрын

Nothing happens by accident at the IRS.

I hate doing taxes. Really hating it

@kenc2257

Жыл бұрын

Use tax software (even the free stuff, available online)--it makes doing taxes more enjoyable [less arithmetic].

Friendly reminder the United States fielded an Army, Navy, and fledgling Air Force in WW 1 without income tax or the IRS.

@SilkCrown

Жыл бұрын

This is completely false. The IRS issued its first 1040 in 1913 and began collecting taxes the next year. The top income tax rate in 1918 was 77%.

@ShamileII

Жыл бұрын

Income tax was a "temporary measure" to help fight ww1. Like Regan said, "nothing is more permanent than a temporary government measure" lol

How IRS works: you do all the works, and they takes part of your money :))

Irs should be shut down entirely

How the IRS takes.

87000 new "agents" but no new border agents.

Lol. Jokes on them. I got audited bringing in less than 40k taxable income last year….come to find out, after a few months of trying to figure out why and my return on hold….the IRS had messed up. Waited for nothing….

The irs probably gets qualified immunity when they dont pay their own taxes.

Abolish the IRS

Or “ how the irs steals”

@jessereinhardt6320

Жыл бұрын

they also return some of your stolen money if you do what gubment wants you to do!

I haven't been a resident of the United States yet I'm still expected to file taxes for what I earn here in Germany. The IRS are a greedy lot.

@jonb5493

Жыл бұрын

That's not the IRS's fault, that's the fault of the American people, who do not accept the idea of everyone paying fair taxes. Also, the fault of every other nation's voters + pols who are too lazy, scared and stupid to confront the U.S. gov once and for all and demand that the U.S. obey the dual-taxation agreements that they have signed up to under international law.

5:23 Ironically if you return to minute 2:29 and listen it is claimed that the most important thing for the IRS is service yet only 3.2 Billions when earmarked for services. That’s 14 times less money than the 45 billions earmarked for enforcement. Interesting. 6:17 Are those 5000 new armed employees? How many is armed enforcement? How many of the 600 people that hold the vast majority of the wealth those armed enforcers will audit? How many of the $334,517,196 remaining US citizens will die at the hands of the IRS armed enforcement officer? 6:42 there’s my point. 7:37 and there’s another. 10:21 the projected hiring is not 5000 as stated before but 10,000. How many for service and how many for enforcement?

I think the post office should be designed to make a profit. A small profit to be designed to upgrade all equipment every 30 years or so.

If no one likes why do we still keep it? Obvious what to do isn’t ?

From 2002 until 2012 I was audited every year and I made less than $50,000/yr.

What about Pristine Edge??

i got audited . I had a weird situation where I was a union steward for the rail road but not eligible for rail road retirement. (if your in rail road retirement you don't pay social security) . When the union paid me they took out rail road retirement. I asked them to stop they said the IRS forces to and just put the amount down as overpayment of social security so I did . two years later I get audited explain it ,they don't care the make me pay it all back with late penalties. it's not like the didn't understand the situation they understood YES the union has to pull out rail road retirement and NO in 1000 years I won't have paid in enough to retire but NO i can not get the money back and yes I am getting a worthless deduction for nothing and no there's nothing I can do about it.

@WilsonianGarveyite

Жыл бұрын

You have spoken to a lawyer about this? That is bullsh1t.

@williambrennan5701

Жыл бұрын

@@WilsonianGarveyite no I was not going to sue the union , that I was a representative of and ruin all kinds of future opportunity for a few thousand dollars. That being said I didn't trust a single one of them after that.

The government has a spending problem.

@thebatfear1012

11 ай бұрын

Is the IRS by the federal government

they need to audit billionaires and multimillionaires...

@colehowe

Жыл бұрын

Ah, have to disagree with you here. I say it’s time we crack down on those with little to no money. Not only to make the average person jump through hoops and struggle further, but also to give a give a break to the rich and powerful. Plus, I’m not sure if you have thought of this, but it would be hard to audit someone if they are taking a trip on their private jet or yacht. Much easier to hassle the working class. Just my two cents! :)

@5lanediver

Жыл бұрын

@@colehowe happy april fools!

@ronblack7870

Жыл бұрын

almost anyone who owns a home in an expensive city is a millionaire. and we tax income not net worth . net worth is almost impossible to figure out in most cases especially people who own a business. what is it worth? it may have net income of a million bucks but only because of a key person or 2. many companies have been sold and then gone out of business without the right leadership. many companies where the owner dies get liquidated because the kids and spouse don't want to run it.

@colehowe

Жыл бұрын

@@ronblack7870 Definitely all good points. It’s def more complex than the average person thinks it is to just increase tax revenue from wealthier people due to the nature of their worth and income. However, I’d say starting with the egregious examples like Apple (a literal trillion dollar worth company) paying little to nothing in taxes over the past few years would be a great start. But you’re right, inflation in the past few decades has taken a lot of the punch out of the term millionaire. I think most would agree that modest, working family, homeowners in a city are not the ones to blame in the US.

@KamiInValhalla

Жыл бұрын

Need funding and people to do that

It’s an inforcement agency because it’s illegal like many things unforced cooperation is easy but most people don’t like being forced to do illegal things like taxes

Losing control....that's what they are focused on...control!

the IRS checks my return every year and I don't have a complicated return. if I don't send in what I owe I will get a letter every year with penalties and interest and what I did not send in correct . so don't say they only check .38% of returns.

They like to do independent third-party evaluations

Anybody who makes $5 million a year should get audited every year

@Mistro07

Жыл бұрын

Why? The middle class cheats on their taxes way more than the rich!! For one the rich don’t have to cheat, and for two they know they will likely be audited, the middle class on the other hand are always looking for a cheat, the rich use expensive CPAs which instead of cheating just use the tax code to their advantage (ie. Not cheating)

@RaginBeach

Жыл бұрын

Aka they need to audit our government officials

@CHRIS-tg5cn

Жыл бұрын

Obviously you're not sum1 who 1.) makes $5M/yr and 2.) doesn't know how to manage money or taxes.

Irs was created to make sure the private bank of the Federal Reserve to have funds through Taxes. Since 1913 the U.S. Government approved the private Bank to control the Money Printing for the nation that was founded on (1776) to avoid English Taxes. The irony

i thought robots already steal tax away from each of my paychecks(fed, state, SS, med, sales tax,etc.) yet they WANT MORE??? In my 50 years i never seen roads improve , nothing improves

Defund the irs

I don't feel like I got an answer to the question the video proposed here...

The only people who benefit from cutting funding to the IRS is the people with complicated returns which require a lot of resources to audit which tend to be the wealthy. Anyone that gets paid on a W-2, 401k, pension, brokerage statement, social security, or any other form you get in the mail is easy because the IRS gets a copy of those forms as well. Don't report those and you will get a letter. Actually, cutting funding to the IRS and reducing audit rates hurts those people the most because they are being forced to comply while the IRS is missing all these people who are not complying. It is amazing how they will give way too much money to every government agency and not care but with the IRS, basically the only agency which actually brings in money, no one wants to fund them. Either change the laws or fund the agency that enforces those laws.

I had my share of those xuv… not easy task.

What about the use of AI in auditing.

Let's SEE...... They charge 80 billion to MAKE 4.1 TRILLION!!!! Yeah!!! I think that's a great deal

Simple, the government has a borrowing/spending problem.

They should have included the stats from each of those metrics on percentage of successful wrong filings If the poor tend to get an adult more, but don't have a lot of people making false claims then why would you consistently audit them? Plus, are they doing audits more on poor because it gives the IRS more money to reclaim? Or is there just a perception of it? All this aside I assume ChatIRS AI will come audit everyone soon enough. But why even have any IRS if we can just have AI do our taxes for us, right?

You should re-look your opening! Any sovereign entity who issues it's own currency isn't "funded". The IRS doesn't provide money to the US government even though it collects taxes from it's citizenry. The government is funded at all times to full budget regardless. A "budget" that Congress sets its more a means to control money circulation and thereby inflation.

@456myer

Жыл бұрын

Isn’t US funded by the federal reserve? Serious question

@theone9273

Жыл бұрын

@@456myer nope! The fed is in charge of printing money, setting rates, and controlling banking.

in sweden it took me 30 secunds.. Bank id, Go to the app , 2 clicks boom done, taxses done and this year I will get back 5k, so america... what a joke

Leave the IRS alone they are doing a great job! -Sincerely a satisfied customer-

I'll just say it - The IRS will RUIN your whole entire life over a few dollars that they want ASAP, but they will have no problem taking their sweet time when giving you your tax return. The IRS owed my $5,000 from 2019 and I didn't receive it until March, 2022 and every time I called them? We would play "Ring around the Rosie" IRS: " Ring around the Rosie - Pockets full of Posie - *I DON'T HAVE YOUR MONEY* - ashes, ashes, - GTFO" -____-

defund the federal gov

I’m getting Audited as We speak !! 🥳

@JDMSwervo2001

Жыл бұрын

Why

@skycaptain95

Жыл бұрын

🎉

@junito1008

Жыл бұрын

@@JDMSwervo2001 Supposedly I made a lot of money and the credits that I used in my tax return, were suspicious 🤦🏻‍♂️ but I have all my documents to prove that everything was legitimate.

@junito1008

Жыл бұрын

@@skycaptain95 🥳

@M3ganwillslay

Жыл бұрын

@@junito1008 how do u get receipts for the coke I sell ?

I knew they only audited the rich people. I earn about 40K (which actually is well off for my area, just not in most places) and I have been cheating my taxes for several years and have never been audited. If done correctly I would come out about even, neither owing nor collecting a refund. However, I basically make up a bunch of false deductions, so I end up getting all of my taxes refunded. Lately though I have just not had any taxes taken out in the first place and then I don't file taxes at all. Most people don't know this but you can fill out a form at work to stop them from taking taxes out of your check. Legally you're only supposed to do it if you expect to get a full refund at the end of the year but nobody actually checks unless you get audited and you won't even be filing taxes this way so you can't even be audited.

@jarlaxle3588

Жыл бұрын

I just looked it up to refresh my memory and the thing I was talking about to stop your employer taking taxes out of your paycheck is called an exemption from withholding. So I wanted to make sure I added that info to help anyone who would like to use it to their advantage. Just ask your employer for an exemption from withholding form

@autismandy3050

Жыл бұрын

@@jarlaxle3588 do you exempt both state and federal?

Don’t care. End the IRS.

The IRS is not the accountant. Congress is.

87k I.T. - Info Tech Agents, 🖥️ 💻 🖥️ Servers etc. Should be 1 TAX Guy for ALL Americans VZ The IRS. Fair, Same. They're Gonna Tell ame If I'm Wrong, anyway.... Save ME the Hassle.

How the U.S. government works: spend one billion dollars to recover two hundred million dollars. 😅

Just tax everyone at the same rate.....This stuff is way too complicated.. The IRS can't even keep up with all these tax codes.. Ridiculous

Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2024 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?

@HildaBennet

Ай бұрын

Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.

@beafoster747

Ай бұрын

I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.

@FinnBraylon

Ай бұрын

Controlling my portfolio cost me losses in 2022. So, in January 2023 I sought advice from a fiduciary. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $1.2M portfolio surged, yielding an annualized gain of 28%.

@PennyBergeron-os4ch

Ай бұрын

One of my goals is to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?

@FinnBraylon

Ай бұрын

SONYA LEE MITCHELL is the manager I use. Just research the name. You'd find necessary details to set up an appointment.

All this propaganda to convince YOU the taxpayer. That you aren't taxed enough and yo give the IRS more money. Please..

@rodrigoccassiano

Жыл бұрын

Exactly

Eye are Es.

Cause we spend too much.

For most of the population in the United States this could absolutely be automatic.

Why is CNBC shilling for IRS? So gross to see private companies shilling for government agencies. Why not talk about all the abuses that the better funded IRS did that led to reps not wanting to fund them. The IRS is NOT having trouble funding the Government as CNBC's SPIN would like you to believe. Rather the elected leaders in our country have a MASSIVE spending problem and that's where the focus should be.

@TrollingWithTheTruth

Жыл бұрын

Cause they are establishment media......they lick boots for the standard quo

Not enough people are working

EITC recipients should submit 25,000 page tax returns like ultra wealthy.

Thieves

Defund the IRS!!! WE CAN ALL AGREE ON THAT!!!

I have been buying some stocks since the beginning of the year, but nothing substantial. Why am I treating this poorly? However, people in the same profession are earning six figures on articles, which inspires me to aim toward becoming the first person in my polygamous family to hit the million dollar mark. I am perfectly aware that working harder to gain more money is expensive.

@benardpatrick9482

Жыл бұрын

The market has taught me that it always bounces back, but I can't seem to concentrate in the long term when important issues like my retirement and my reserve are destabilizing inflation. I must have a strong data trajectory and a quick answer.

IRS Does not work if you're +millionaire*

They need the money to not fix anything in your city.

Calm down, our next goal is $40 trillion, and at this pace with interest compounding, we will reach there very soon.

I'll save you the trouble from watching. IRS is purposely I understaffed they head of the IRS said years ago its hard to audit cooperation so they go after regular Americans because it's easier. The retirement home that is Washington DC has not given the IRS any modern tools or computer systems to stream Line the process. Their policies haven't been updated since the 80s. So you can't complain why the most important agency can't seem to get enough money to run government when there had been years or neglect. Also income is taxed pretty heavily and that hasn't grown due to inflation. Basically the irs is going to be stuck if they can't get money out of the people who are hoarding it.

You watch this video …

The IRS paid a house visit to Matt Taibbi while he was testifying before Congress a la the Twitter Files.

we do not need the IRS, complete bs

Dont worry guys, i got this, keep the change 😂

Taxes r good. Taxes on stocks should be introduced coz we the public need services so if we don't pay its a disservice.