So you did not file your income tax returns for at least ten years, and here you come back into the country finding out that the IRS had been contacting you through your old good address but to no avail. Until such time that they find out of your quiet return to the country, they will automatically send for you to pay your dues for those ten years of being unable to file your income tax returns.
All this hoopla really started four years ago. While recuperating from major surgery gone awry, I decided to hand over the preparation of our annual income tax forms to a professional. A co-worker recommended a CPA firm her family had used for five years for both business and singapore Us Expat singapore work.
A family may have experienced higher than singapore tax normal medical expenses for a child that was diagnosed with a learning disability and needed intense therapy during the year.
Here’s a detailed look at the return on investment for the Social Security funds paid in presuming a person lives to the mortality tables. See Table 1 – Present Law Scenario in the link. Of course, if you die before the Actuarial Table says you are supposed to die, well, the return drops – yes, live longer the return increases.
If you gamble, you are responsible for reporting your earnings and paying taxes if you won more than you lost during the year. If you lost more than you won, you get to right off the winnings. Unfortunately, the IRS will not let you claim a loss from gambling. In short the house always wins with the IRS being singapore taxation the house.
We have some other heroes here today. Annette Kirk, will you please stand in honor of your son, Private First Class Paul Cuzzupe. Paul lost his life while fighting for our freedom in Afghanistan. Annette, it was an honor to meet your family in Tampa and to hear about Paul’s bravery in combat. Please join me in thanking Annette and every military family for their sacrifice and their service.
Okay, so I’m being crazy here with such an idea – or am I? My point is, just as our employer would laugh us out of the building, isn’t it time to do the same for these incompetent officials who continue to spend and tax. Let’s laugh them out of the building. Besides, didn’t it used to be ‘tax and spend’? At least then the money (supposedly) was already available in their coffers. They budgeted to match funds. Here’s a forgotten concept, they used to plan ahead. Now it is all knee jerk reaction.