H&R always got me a nice lump of about 800 to a grand back. I noticed though that it was far less since I got married. Hope I'll still get something this year.

- Peter.

Since switching over to software to process/print the tax returns, I have gotten quite a bit back, a couple thousand usually. But thats because I've also gotten paid next to nothing :D

Booze expenses? :cool:

That would be an interesting exercise. I should take a spin over after I get mine back from my accountant.

He said 1200, not 12000. :D

It's as much the hassle and inconvenience of the audit as anything else. We had our company books audited by the nice IRS lady last year. Everything was in order but it took the better part of two days and many hours of our bookkeepers time back and forth to fetch the documents she wanted to see.

They're going after the low hanging fruit first to get the easy pickings. And the deductions are the red flags.

D'oh! My bad. What's an extraneous 0 here and there? :D

Still, probably closer to that than his arsenal expenses. :)

That's what I said....I'm like honey, are you sure we have THAT much in deductions??

"Moooon Riveeerrr!" :eek:

I love that movie.

It's not how much you get back at tax time that matters. You pay the same amount regardless. Either you have it taken out each paycheck and get something back or have a bigger paycheck each time and pay in during tax time.

The whole idea of paying somebody to "find" what's yours to begin with after the government artfully "hides" it really gets me steamed. There's no way I could do our taxes manually without the help of an accountant or Turbo tax. Its way too complex. The software solution requires investing in a newer Windows computer that you might not otherwise need. Double ripoff.

They're after big fish too.....


-2011-14, Feb. 8, 2011

WASHINGTON — The Internal Revenue Service announced today a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes. The new voluntary disclosure initiative will be available through Aug. 31, 2011.

“As we continue to amass more information and pursue more people internationally, the risk to individuals hiding assets offshore is increasing,” said IRS Commissioner Doug Shulman. “This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax problems once and for all. And it gives people a chance to come in before we find them.”
The IRS decision to open a second special disclosure initiative follows continuing interest from taxpayers with foreign accounts. The first special voluntary disclosure program closed with 15,000 voluntary disclosures on Oct. 15, 2009. Since that time, more than 3,000 taxpayers have come forward to the IRS with bank accounts from around the world. These taxpayers will also be eligible to take advantage of the special provisions of the new initiative.

For the 2011 initiative, there is a new penalty framework that requires individuals to pay a penalty of 25 percent of the amount in the foreign bank accounts in the year with the highest aggregate account balance covering the 2003 to 2010 time period. :eek::eek:Some taxpayers will be eligible for 5 or 12.5 percent penalties. Participants also must pay back-taxes and interest for up to eight years as well as paying accuracy-related and/or delinquency penalties.

Taxpayers participating in the new initiative must file all original and amended tax returns and include payment for taxes, interest and accuracy-related penalties by the Aug. 31 deadline

Lemme see now:

Back income taxes Ka-ching
Interest Ka-ching
Late payment penalties (25% of bal. due) Ka-ching
Accuracy related penlties (20% of tax due) Ka-ching
and lastly
New penalty 25% of highest account balance penalty KKAAAAAA-CCHHHHIIIIINNGGG!

Whoaa Nellie :eek::eek::eek:!!!

The good news is, I suppose, they get to keep their sorry azzes out of jail.:rolleyes:

It makes me appreciate our expensive, by the book accounting firm quite a bit more! :)

Swamp,

Google Circular 230. We're under the same microscope as you!:rolleyes:;)

Should I send a thank you note to Arthur Andersen? Oh, wait.. :D