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Tag Archives: IRS

Chumph Son In Law Facing 3 Separate Felony Criminal Investigations

The Chumph’s Son-in-Law Jared Kushner now has the State of New York, the IRS, and of course the FBI on his behind looking at criminal activity.

Talk about hitting the Trifecta!

And this scumbag was somehow supposed to get a Whites Only House Security Clearance?

The bot is not only looking at serial stays in Leavenworth… But followed by a stay in Rikers!

Looks like the wrong Chumph family wife filed for divorce.

 

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US Collects Taxes on Those Olympic Gold Medals

Go to the Olympics representing the United States and win a Gold, Silver, or Bronze?

Well…There’s a tax for that.

For US Olympians, gold medals come with a hefty tax bill

She has flipped, tumbled and leapt her way into the hearts of millions over the course of the Olympic games. But when Simone Biles returns home she will be in for not just a major celebration but also a hefty tax bill.

The 19-year-old has won five Olympic medals – four gold and one bronze. She has cemented her title as the world’s best gymnast by taking home the gold in the all-around after three successive world championship titles – a feat only accomplished by three others in history.

But all that winning will cost her. On 21 August, Biles could be slapped with a tax bill close to $43,560 (£33,479)

That estimate is based on the $2m that she has accumulated in endorsement deals and assuming she is charged in the highest income tax bracket in the US – 39.6%.

Biles is not alone, her fellow US medallists will be slapped with tax bills for their victories as well.

American Olympians are subject to a so-called “victory tax” – a tax on both the money they receive from the Olympic committee for winning and on the value of the Olympic medal.

What are they taxed on?

US athletes who win a medal at the Rio games will take home the hardware and a cash bonus from the US Olympic Committee.

Gold medallists will receive $25,000, silver medallists get $15,000, and bronze winners earn $10,000.

Those winnings are taxed as income, the same way Americans are taxed on other prize money, like lottery winnings. Most countries exempt their athletes from these taxes.

But there’s more, the medals are also given a value and taxed. The value is based on the value of the materials the medals are made of.

Gold medals – which are mostly made of silver with a gold plating – are worth roughly $600 based on current commodity prices, silver medals are worth close to $300, bronze medals – which consist mostly of copper – have barely any monetary value, approximately $4.

How much is the tax?

Assuming the athlete was already a high-income earner, paying the top bracket of US taxes, they would be paying 39.6% on the combined value of the medal and cash payout.

Americans for Tax Reform calculated the bills to be: for a gold medallist $9,900, for silver $5,940, and for bronze $3,960.

That’s also assuming the athlete only won one medal.

 
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Posted by on August 18, 2016 in Giant Negros, Great American Rip-Off

 

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Tax Extension, Thanks to “The Last Colony”

Automobile Tags in the District of Columbia have carried the words “Taxation Without Representation” for years. Sometimes referring to the City as “The Last Colony”, because the Capital City has no voting rights in Congress, City Politicians and activists have campaigned hard through the years for DC to receive Statehood status. The addition of one voting Congressman and two Senators has been resisted heavily by Republicans. The reason for that is similar to the Missouri Compromise, where  the slave states demanded that a slave state be added to the Union for every free state. DC is heavily Democrat. Obviously, Republicans don’t want another “free state” with Senators who might shift the dynamics of power in Congress, in a situation erily similar to the position of their ideological forbears.

In any event – those of us living in the (shrinking) majority of the country which does get the sometimes questionable “benefit” of a voting Congressman and Senator,  get a 3 day  “emancipation” of sorts because of a DC Holiday. The Holiday ironically is “Emancipation Day“…

Nine months before President Lincoln issued his famous Emancipation Proclamation, he signed into law the D.C. Compensated Emancipation Act of 1862, which ended slavery in the nation’s capital.More than 3,100 slaves were freed immediately, and “loyal Unionist” masters were compensated up to $300 per freed slave (roughly $6,000 in today’s currency).

Federal tax filing deadline pushed back 3 days, to April 18, because DC holiday falls on 15th

The filing deadline is delayed because the District of Columbia will observe Emancipation Day on Friday, April 15. By law, local holidays in the nation’s capital impact tax deadlines the same way federal holidays would, the Internal Revenue Service said.

Taxpayers will have until midnight Monday, April 18, to file their 2010 returns. Taxpayers requesting an extension will have until Oct. 17 to file their returns.

Emancipation Day marks the occasion when President Abraham Lincoln signed into law a bill ending slavery in the District of Columbia. Lincoln signed the bill on April 16, 1862, more than eight months before he signed the Emancipation Proclamation, which eventually led to all slaves being freed.

The IRS expects to process more than 140 million individual tax returns this year. Most taxpayers can fill out their returns and file them as soon as they receive all their tax documents from employers, banks and other financial institutions. Some taxpayers, however, will have to wait to file until mid- to late February to file their returns because of late changes to the 2010 tax law passed by Congress in December.

The IRS said it needs more time to re-program its processing systems to take into account the new law. The agency plans to announce a more definitive filing date before then.

Those who must wait to file include people who itemize their deductions, taxpayers who claim a deduction for college tuition and fees, and school teachers who claim a deduction for out-of-pocket classroom expenses.

 
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Posted by on January 5, 2011 in Black History, News

 

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Republican Candidates For The Orange Jumpsuit Awards

Stylish Orange Jumpsuits - Suitable for Groups

Not one, but two leading Republican/Tea Party figures under invetigation this AM for financial improprieties (theft). In one case it seems that may have been Republicans themselves who dropped the dime.

Caught in the Florida probe is Marco Rubio – the leading candidate for an open US Senate seat in Florida, and Tea Party darling…

FBI, IRS raid NY state senator’s Bronx clinic

NY Republican Senate Majority Leader, Pedro Espada

Federal authorities raided a government-funded clinic run by the state Senate’s majority leader, one day after New York’s attorney general accused him of siphoning money from it.

About a dozen FBI and IRS agents appeared Wednesday at the Soundview Healthcare Network in the Bronx, where a big canopy above the front door lists Sen. Pedro Espada Jr. as its president and CEO.

On Tuesday, Attorney General Andrew Cuomo announced a lawsuit accusing Espada of siphoning $14 million from the clinic. It said the money was used for lavish restaurant meals, trips to Las Vegas and Espada’s campaign.

Espada called it a litany of falsehoods. On Tuesday afternoon, he accused the Democratic attorney general of a politically motivated attack. He also accused Cuomo of tapping the phone lines used by himself and his relatives and of taking a “steamroller approach” against political enemies, a reference to the term disgraced and former Gov. Eliot Spitzer once used for himself. Read the rest of this entry »

 

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Domestic Terror Attack? Two Hospitalized After Letter Containing White Powder Opened in IRS Office

More Tea Bagger, Glenn Beck, Faux News  inspired Domestic Terrorism?

Hazmat crews respond to Utah IRS office

Hazardous materials crews and the FBI were on the scene Monday at the IRS building in Ogden, Utah, where two people were removed on stretchers and several others were undergoing decontamination showers.

The FBI released no information about the incident. The IRS said “an unknown substance” was discovered but gave no further details; local news reports suggested that a suspicious white powder may have been found in mail delivered to the facility.

Initial reports said the buiding was in Farr West, a small community near Ogden, but the IRS specified that the incident took place at the IRS campus on Rulon White Boulevard in Ogden, about 30 miles from Salt Lake City.

The incident began about 12:30 p.m. (2:30 p.m. ET) Monday, 11 days after a Texas man embroiled in a years-long dispute with the IRS crashed his small plane into the agency’s complex in Austin, Texas.

 

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Another Domestic Tea Bagger McVeigh Terrorist?

Once again we are confronted with what may be an act of domestic terrorism. The typical denials and excuses are in place, whenever a white, middle age guy does something tragic and stupid killing a few dozen or hundreds of his fellow Americans. But the fact the “terrorist” in this case destroyed the back trail (his home) prior to crashing an airplane into an office building 911 style – raises a few questions.

The “terrorist” in this case apparently left a suicide note.

This one is developing…

Official: Plane crash pilot left anti-IRS Web note

Aftereffects of 9-11 Style Attack on Federal Building

AUSTIN, Texas – A software engineer furious with the Internal Revenue Service plowed his small plane into an office building housing nearly 200 federal tax employees on Thursday, officials said, setting off a raging fire that sent workers fleeing as thick plumes of black smoke poured into the air.

A U.S. law official identified the pilot as Joseph Stack — whose home was set on fire just before the crash — and said investigators were looking at an anti-government message on the Web linked to him. The Web site outlines problems with the IRS and says violence “is the only answer.”

Federal law enforcement officials have said they were investigating whether the pilot, who is presumed to have died in the crash, slammed into the Austin building on purpose in an effort to blow up IRS offices. All the officials spoke on condition of anonymity because the investigation was ongoing.

“Violence not only is the answer, it is the only answer,” the long note on Stack’s Web site reads, citing past problems with the tax-collecting agency.

“I saw it written once that the definition of insanity is repeating the same process over and over and expecting the outcome to suddenly be different. I am finally ready to stop this insanity. Well, Mr. Big Brother IRS man, let’s try something different; take my pound of flesh and sleep well,” the note, dated Thursday, reads.

At least one person who worked in the building was unaccounted for and two people were hospitalized, said Austin Fire Department Division Chief Dawn Clopton. She did not have any information about the pilot. About 190 IRS employees work in the building, and IRS spokesman Richard C. Sanford the agency was trying to account for all of its workers. Read the rest of this entry »

 
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Posted by on February 18, 2010 in News

 

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