#400614 - 02/19/11 10:22 AM
Re: US Tax returns
[Re: beachdude]
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Joined: Jun 2008
Posts: 1,992
ragman
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I vaguely remember that conversation but I don't recall anyone stating that you had to file without any income. Most of us have income from either the USA or Belize. Either from earned income or unearned (dividends, rental ect)
You must remember that each one of us has individual circumstances that have to be considered in a complicated US Tax system.
Jim Formerly from somewhere on a beach in Belize
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#400638 - 02/20/11 07:44 AM
Re: US Tax returns
[Re: beachdude]
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Joined: Jun 2008
Posts: 1,992
ragman
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beachdude, Ok now I see where you are coming from. Back a few years ago when the laws were swayed in favor of rich people, they did a complete 180 degree turn, the burden of proof in now back on the IRS to prove that you are lying, not the other way around like it used to be. I understand now. You are talking about the 5 percent of people who paid more than one-half (53.8 percent) of all individual income taxes, but reported roughly one-third (30.6 percent) of income. Or are you talking about •Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes. In all years since 1990, taxpayers in this group have paid over 94 percent of all individual income taxes. In 2000, 2001, and 2002, this group paid over 96 percent of the total. Taxes paid by the lower 50% come to about 4% of all individual income taxes. Many get money back and pay no income tax with the $1,000 child credit. Yes, I would say the laws are swayed in favor of the rich. Or maybe this is the problem in the USA when so many can vote for things they do not have to worry about paying for.
Jim Formerly from somewhere on a beach in Belize
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#400641 - 02/20/11 08:11 AM
Re: US Tax returns
[Re: ragman]
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Joined: Aug 2010
Posts: 62
beachdude
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Hi, I am not going to get into a political debate over who paid for what, who has the right to vote, etc. The US is a mess, and it is what it is. When the original poster, who now won't own up to it now, posted that you must file every year, regardless of whether you made a dime or not, this sent me scrambling, because my CPA had told me not to bother to file. I decided to contact the dreaded IRS and see where I stood, I am IRS certified AOK in their books, saved email to prove it, not having filed in 5 years now. End of story, I don't talk religion , politics, etc, Staying legal and not clogging the over-bloated system with unnecessary returns to process is all I want to accomplish.
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