87,000 IRS Agents Are Coming for You
Let me introduce this topic with an IRS story of my own.
About 5 years ago, my wife cashed in an annuity that had reached maturity. It was a tax free annuity which was purchased with already taxed money. In other words, it was like a savings account where you deposit money and the only tax bill you receive is on the interest.
About 18 months ago, I get one of those soft audit letters in the mail informing me that we owe 14 thousand dollars in back taxes and penalties. We did not report it as income because it wasn't.
So then we have to dig out the 1099. In the box where tax amounts are written in, it says "no tax." I forward that to the IRS thinking that will be the end of that.
About 3 months later, the IRS sends another letter. This is an agree or deny letter for 4000. The IRS says, you are right but you should have added it as income for the year.
To that I replied, "If I close out a savings or checking account, do we list that as income as well?"
This forces me to contact my accountant, refile that year's taxes, and wait for the next round of financial abuse. A couple months ago, I get a letter telling me that my tax liability is ZERO. This is what I had to go through.
Please note that I am an outspoken MAGA style conservative, now criminalized by President Biden in the Red Sermon. Is that a coincidence? Hard to say.
This is what I do know. The IRS can perform some sort of half ass audit on me via the mail. It was my duty to prove my innocence. I have no idea of what the process is exactly, but I do know that no strangers showed up at my door. No agents.
Now I'm no expert in these matters for sure- but if the government was only going to audit billionaires and mult-millionaires, I figure they could do that with an additional 500 agents.
So what do they need the additional 86,500 agents for?
For you.
They've already hijacked your deductions for out-of-pocket medical expenses, losses due to casualty and crime, mortgage interest is virtually nonexistent, and you can't even deduct state or local taxes that you are forced to pay. They are coming after charitable contributions next.
They are going to look at your bank accounts, your transactions, your lifestyle, and your Obamacare. They are going to pay home visits. look at books, look at businesses. You have a cash transaction business like a laundromat, car wash, auto repair, or RV park? Best of luck.
Deductions, business expenses, depreciation, offshore and foreign accounts, Obamacare subsidies.
You have a wife and kids, house, with no visible income? Plan on a visit.
This is an army. It is 40,000 people stronger than the TSA when they launched that bureaucracy.
I honestly can't believe that people are not discussing this. This is an opening shot across the bow from a government that has literally spent us into oblivion. And the only collateral this government has is it's ability to squeeze the collective nuts of every American here and abroad.
All that remains is whether they are going to target conservatives or everyone.
This government makes the Mafia look reasonable.
Comments
I know I am.
I visited Nevis in the early 00s and set up an account(and many times subsequent via sail boat to visit my money) and flat out asked my attorney there if the IRS sued me for any information about this account what happens? He said the laws on Nevis(and at the time I believe 3 other Carib countries) require first that the suit be filed in a Nevis court(IOW edits/degrees from foreign courts were not valid on Nevis) and second, intrusions into privacy with out solid proof that the money is ill gotten go no where. At the time they were called a Level 3 country. Among other things, it made you immune from ambulance chaser type lawsuits including child support.
Seems so quaint now doesn't it?
I had to prove my money was legally made to the bank and present affidavits from 3 professionals in the US that knew me and had done business with me. Was that the case with huge depositors? Couldn't say, I was only in the low 7 figures.
Under threat of prison around 2012(?) Congress passed a law requiring full disclosure of any and all out of the country assets and bank accounts on your tax return.
I took appropriate measures and of course followed the law.