|
|
|
|
|
by thelogos
4251 days ago
|
|
This has been the case for a long time. The IRS works on a guilty-until-proven-innocent basis. Take the case of collectible gain tax, if you do not have evidence to prove the value of the item on the date it was acquired, then the IRS calculates the tax based on the total value of the item, not just the profit. So if you buy something that might increased in value at a later date, you better keep the receipt. And of course, anytime the government freezes your asset and property, it takes a tremendous amount of time and effort to get it back. Meanwhile, you won't have any means to hire a good lawyer. |
|
Great book if you want to get really scared about how much power the IRS actually has: http://www.amazon.com/Law-Unto-Itself-Abuse-Power/dp/0679732...?
I wonder whatever happened to the "kinder gentler" IRS we were supposed to get with the Restructuring and Reform Act of 1998?
Just in case you're lazy: http://en.wikipedia.org/wiki/Internal_Revenue_Service_Restru...