Putting a true socialist president in vowing to raise taxes to 75%, just waiting for it to crumble. From the rich people fleeing france… It will ruin them…
Well you know they brought it upon themselves. They will go the way of Ancient Athens.
|—||Ludwig von Mises, The Theory of Money and Credit, pg 281.|
WASHINGTON (AP) — The Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011, Treasury Department investigators said Thursday. They estimate another $21 billion could make its way to ID thieves’ pockets over the next five years.
The IRS is detecting far fewer fraudulent tax refund claims than actually occur, according to a government audit that warned the widespread problem could undermine public trust in the U.S. tax system. Although the IRS detected about 940,000 fraudulent returns for last year claiming $6.5 billion in refunds, there were potentially another 1.5 million undetected cases of thieves seeking refunds after assuming the identity of a dead person, child or someone else who normally wouldn’t file a tax return.
In one example, investigators found a single address in Lansing, Mich., that was used to file 2,137 separate tax returns. The IRS issued more than $3.3 million in refunds to that address. Three addresses in Florida, the epicenter of the identity theft crisis, filed more than 500 returns totaling more than $1 million in refunds for each address.
In another troubling scenario, hundreds of refunds were deposited into the same bank account — a red flag for investigators searching for ID thieves who may be filing for refunds for multiple people. In one instance, the IRS deposited 590 refunds totaling more than $900,000 into one account.
“We found multiple reasons for the IRS’s inability to detect billions of dollars in fraud,” J. Russell George, the Treasury Department’s inspector general for tax administration, in a statement. “At a time when every dollar counts, these results are extremely troubling.”
Topping the list of concerns is the IRS’s lack of timely access to third-party information it needs to verify returns and root out fraud.
Many Americans are struggling to pay their bills and the IRS takes pride in processing returns and issuing refunds promptly. But taxpayers can start filing their returns in mid-January, while employers and financial institutions don’t have to submit withholding and income documents for taxpayers to the IRS until the end of March. That means the IRS often issues refunds long before it can confirm the veracity of what’s listed on taxpayer returns.
Thieves are also exploiting vulnerabilities in the way the IRS delivers refunds, investigators found. Of the 1.5 million undetected cases of potential fraud, 1.2 million used direct deposits, including pre-loaded debit cards. Thieves often prefer those methods to a paper check, which require a physical address to receive the check and photo ID matching the taxpayer’s name to cash it.
IRS officials said the growth of identity theft-related fraud is one of its biggest challenges. Already this year, the agency has stopped almost $12 billion in confirmed fraud, it says. And it says its criminal investigators are actively pursuing those who perpetrate fraud — including the previously undetected cases identified by the audit.
“If the IRS determines a refund has been issued improperly, we will attempt to recoup the funds,” said IRS spokeswoman Michelle Eldridge.
But IRS officials disputed the notion that $21 billion in fraudulent returns could be issued over the next five years, arguing that the estimate didn’t take into account the IRS’s stepped-up compliance and prevention efforts.
“We’re going to continue to monitor the IRS in this area until we see some improvement,” Michael McKenney, the acting deputy inspector general for audit, told The Associated Press.
Investigators went back through a sample of the 1.5 billion undetected cases to see why the IRS never flagged them as fraudulent. In 49 of 60 returns, investigators said, the return didn’t score high enough on the IRS’s fraud filter to merit a closer review. In eight of the 11 cases where the IRS did perform an additional review, it never verified the income and withholding on the return.
Repeal the 16th amendment and get rid of the IRS.
Wanted 600 dollars for a 5 year magazine subscription.
Telling us some sob story about her being a single mom.
Unfortunately for her she met my mom, who raised me on her own for quite a while and worked 70 hours a week and two jobs after my dad left. Those were bad times.
I’ll have to write a post about that sometime. Talk about my mother’s work effort and refusal to take assistance. She literally pulled herself up by her bootstraps. That’s the American spirit.
An anonymous donor has offered to pay up to $20,000 of the cost of extra security for President Obama’s visit to a New Hampshire college town after the town asked the Obama campaign to foot the bill.
CBS Boston reports Jay Gooze, the Town Council Chair in Durham, announced Sunday a local resident has offered to cover the cost of the president’s Monday campaign stop.
“We are grateful for this generous offer,” Gooze told CBS Boston.
Gooze says the resident stressed he or she believes the town did the right thing by asking the Obama campaign to pay up, and he or she felt donating the money is the right thing to do.
The town caused a controversy when they asked the Obama campaign to cover the $20,000 to $30,000 cost of extra police, fire and EMS services for his visit to the University of New Hampshire because the city couldn’t afford it. The Obama for America campaign refused.
There is no reason why the town should be forced to shell out cash for extra security just because someone chooses to have a campaign stop there. That goes for everyone’s campaign. I see no reason why the President can’t provide is his own security. It is unfair to the taxpayers of that community to be burdened with such a cost for the President’s political benefit.
This is not like he’s there on ‘official” business; he is campaigning. Therefore he should he foot the bill or his donors should. A donor has chosen offered to pay for it. That’s good. The burden should never fall upon local tax payers for these kinds of things.
I somewhat equate this to Michael Jackson’s funeral. The city which was already in debt shelled out something like 1.4 million dollars in costs for the event. That was ridiculous. It was a private event that was a great cost to an already cash strapped city.
Just my opinion.
Since when did having money become such a bad thing? Since when did earning a good wage after a hard days work and being able to purchase nice things become such an immoral action?
I’m serious. We’re going to hell in a hand basket really fast. The youth have been raised to believe they are entitled to other people’s money.
News flash! You’re not entitled to your fellow citizen’s property.
I don’t use a credit card. If I don’t have cash for it; I probably don’t need it.
I tried. I really did. I was ready to arrange a $500,000 donation toin Texas. The donor was in the car on the way to meet the CEO, checkbook in hand. But then Planned Parenthood called and told him to turn around. They didn’t want his money.
Want is the only word for it. Because, Planned Parenthood sure as hell needs it. See, in Texas,has viciously attacked family planning and health organizations like Planned Parenthood. Not only eliminating local funding, but depriving them, this year, of more than $35 million in federal funding. The situation has already become “acute:”
It took more than 20 minutes to actually tell him that they were not going to accept his money and that the meeting was off. Mind you, this conversation occurred as he was driving to Dallas. Eventually, they stopped being evasive and got to the real issue—self-righteousness. Planned Parenthood was actually willing to let clinics CLOSE rather than take money from a humorist (with millions of female fans) whose writing they didn’t like the perception of:
PP: “I guess it’s the way you write about women.”
Tucker “What do you mean? I’m not negative towards women in my writing. Women love my writing; more than half my fans are female.”
PP: “Well…there are certain jokes you make we feel can be perceived in a certain negative manner.”
Tucker: “So because I made a fat girl joke you won’t accept a $500,000 donation?”
PP: “I wouldn’t characterize it that way.”
Tucker: “How would you then? I’m listening and I want your best quote.”
PP: “We don’t feel it would be appropriate, given Planned Parenthood’s mission and your body of work, to accept your donation.”
Tucker: “What? I thought Planned Parenthood’s mission was about helping women, not passing judgment on humor.”
Everything in bold was from the article.
My motto has always been if you can afford to turn down a large donation you can afford to be privately funded. So the guy writes some controversial things that may hurt some peoples feelings. Money is money. If you have such a moral outrage to it, take the Billy Sunday approach: “The Devil’s had it long enough, and quickly cash the check.” I mean the only people you hurt by not accepting the cash are those that would have been helped by the funding to the clinic. I highly doubt there would have been an outrage by accepting this donation.
I’d also like to point out that it is really assholish to have someone who is bringing you a check, drive 3 1/2 hours and while he is driving call and tell him you are not accepting the donation. Real dick move Planned Parenthood.
Well Planned Parenthood. It seems you are too good for Tucker Max’s money. You must be too good for mine too.
You can read the full article on Forbes: http://www.forbes.com/sites/ryanholiday/2012/04/03/why-wont-planned-parenthood-take-500000/
Not The Onion:
It’s no secret that LimeWire was once a hotbed of peer-to-peer music piracy, but the RIAA has now attempted to sue it for $72 trillion - more money than exists in the world today.
LimeWire was shut down in October 2010, but litigation continues from music bodies around the world, including Merlin which represents independent labels.
How do they plan to collect?
A great video with Milton Friedman explaining the problems of the welfare system. One of the main points that is brought up seems to be the idea that government is not an efficient way to implement assistance to needy families. When it comes to economic assistance, each case is going to have different needs. We currently have a welfare trap in this country. The way the system operates actually keeps the very people it was meant to help in poverty.
“One of the greatest mistakes is to judge policies and programs by their intentions rather than their results.” - Milton Friedman