Results 1 to 13 of 13

Thread: IRS scheme to fleece the small business owner

  1. #1 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default IRS scheme to fleece the small business owner

    The IRS is always looking for low hanging fruit to boost their revenues, and what better way than to fleece the small business owner.

    Ten years ago I had incorporated my business and that created more IRS paperwork that I could handle. Taxes has to be paid quarterly, and the forms aren't complicated but they make no logistical sense. It literally took me a day to file, reading the rules and filing out the forms and writing the check. Every three months I'd have to re-read the rules because again, unlike by business which is based on the fixed laws of physics, IRS rules are arbitrary and can change at the whim of some POS in a suit.

    So eventually I hired a CPA to do that for me. He filled out the forms, told me the amount of the check, I'd sign the forms and mail the shit to the IRS.

    Then one day I got a phone call, some little biatch at the IRS office, demanding that I now pay a $2000, 'because I had used the wrong form'. Then the $2000 became $4000 because I told her to pound sand.

    I called my congressman to complain, and he told me that since this was a corporation, I'd have to hire an attorney and go through another channel.

    To avoid this scam I killed the corporation and went back to running the business as a sole proprietor with a simple DBA. No more quarterly returns. And if the IRS fucks me, I can call my congressman.

    Since then my business has grown and I have consultants that work for me as non-employees. This avoids all the employee payroll tax bullshit. All I have to do is estimate my tax bill before December 31 and write a check for the year, less a few hundred bucks. Then file by April 15 and pay the remainder. Then send my consultants 1099-MISCs before February 1, then send a copy of those plus a 1096 to the IRS by March 1. Simple, and has gone like clockwork for ten years.

    Last year they added a new variant of the 1099 called the 1099-NEC: Non-Employee Compensation. It is obviously used for small businesses who prefer not to have employees because of that time and income destroying burden.

    Now here's how the IRS bully figured out how to screw us small guys. When you file a NEC, you must file the corresponding 1096 by FEBRUARY 1. AND the 1099/ 1096 forms, top sheet is in red ink that you are not allowed to download and send a facsimile copy. You MUST obtain an original print from IRS, archaically type or print on that, then mail the original. These forms are not available at the local post office, you have to send away for them, and they take at least two weeks to mail them to you. Mine took almost a month.

    So unless you are big enough to have an office manager or accountant to be on the ball and order this shit before the end of the year, it is improbable that you will make the deadline.

    I wonder how much Little Miss IRS Biatch will decide how much to fine me this time.

  2. #2 | Top
    Join Date
    Feb 2021
    Posts
    616
    Thanks
    14
    Thanked 222 Times in 160 Posts
    Groans
    2
    Groaned 28 Times in 28 Posts

    Default

    Do what Trump did and ask your dad for a small gift of a few million dollars.
    #RepublicanProblemSolving

    Or maybe you should have been born rich. It's not society's fault you chose to be born not rich.

  3. The Following User Groans At American Man For This Awful Post:

    Matt Dillon (02-26-2021)

  4. #3 | Top
    Join Date
    Jul 2009
    Posts
    134,846
    Thanks
    13,245
    Thanked 40,785 Times in 32,151 Posts
    Groans
    3,661
    Groaned 2,865 Times in 2,752 Posts
    Blog Entries
    3

    Default

    Quote Originally Posted by American Man View Post
    Do what Trump did and ask your dad for a small gift of a few million dollars.
    #RepublicanProblemSolving

    Or maybe you should have been born rich. It's not society's fault you chose to be born not rich.
    it's sad that you post stupid things which are not true.......
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

  5. The Following User Says Thank You to PostmodernProphet For This Post:

    Lightbringer (02-27-2021)

  6. #4 | Top
    Join Date
    Jul 2020
    Posts
    1,417
    Thanks
    5
    Thanked 71 Times in 70 Posts
    Groans
    0
    Groaned 2 Times in 2 Posts

    Default

    She's after my job.

    e2f72bc025a8b5d1a82f77fa78037ec4.jpg

    Two couples with strollers. After the guys are going to cook you dinner
    and when you're done they're going to rub your feet. Throw them out!






    The ADF has a added crocheting feature besides the knitting.
    The CMS only knits.

  7. #5 | Top
    Join Date
    Nov 2020
    Posts
    53,154
    Thanks
    0
    Thanked 15,989 Times in 11,516 Posts
    Groans
    873
    Groaned 2,459 Times in 2,200 Posts

    Default

    Quote Originally Posted by China Joe View Post
    The IRS is always looking for low hanging fruit to boost their revenues, and what better way than to fleece the small business owner.

    Ten years ago I had incorporated my business and that created more IRS paperwork that I could handle. Taxes has to be paid quarterly, and the forms aren't complicated but they make no logistical sense. It literally took me a day to file, reading the rules and filing out the forms and writing the check. Every three months I'd have to re-read the rules because again, unlike by business which is based on the fixed laws of physics, IRS rules are arbitrary and can change at the whim of some POS in a suit.

    So eventually I hired a CPA to do that for me. He filled out the forms, told me the amount of the check, I'd sign the forms and mail the shit to the IRS.

    Then one day I got a phone call, some little biatch at the IRS office, demanding that I now pay a $2000, 'because I had used the wrong form'. Then the $2000 became $4000 because I told her to pound sand.

    I called my congressman to complain, and he told me that since this was a corporation, I'd have to hire an attorney and go through another channel.

    To avoid this scam I killed the corporation and went back to running the business as a sole proprietor with a simple DBA. No more quarterly returns. And if the IRS fucks me, I can call my congressman.

    Since then my business has grown and I have consultants that work for me as non-employees. This avoids all the employee payroll tax bullshit. All I have to do is estimate my tax bill before December 31 and write a check for the year, less a few hundred bucks. Then file by April 15 and pay the remainder. Then send my consultants 1099-MISCs before February 1, then send a copy of those plus a 1096 to the IRS by March 1. Simple, and has gone like clockwork for ten years.

    Last year they added a new variant of the 1099 called the 1099-NEC: Non-Employee Compensation. It is obviously used for small businesses who prefer not to have employees because of that time and income destroying burden.

    Now here's how the IRS bully figured out how to screw us small guys. When you file a NEC, you must file the corresponding 1096 by FEBRUARY 1. AND the 1099/ 1096 forms, top sheet is in red ink that you are not allowed to download and send a facsimile copy. You MUST obtain an original print from IRS, archaically type or print on that, then mail the original. These forms are not available at the local post office, you have to send away for them, and they take at least two weeks to mail them to you. Mine took almost a month.

    So unless you are big enough to have an office manager or accountant to be on the ball and order this shit before the end of the year, it is improbable that you will make the deadline.

    I wonder how much Little Miss IRS Biatch will decide how much to fine me this time.
    Do you know where you copied this text?

  8. #6 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by BidenPresident View Post
    Do you know where you copied this text?
    No.

  9. #7 | Top
    Join Date
    Sep 2017
    Posts
    25,590
    Thanks
    79
    Thanked 9,916 Times in 6,548 Posts
    Groans
    2
    Groaned 1,882 Times in 1,756 Posts
    Blog Entries
    2

    Default

    Quote Originally Posted by China Joe View Post
    The IRS is always looking for low hanging fruit to boost their revenues, and what better way than to fleece the small business owner.

    Ten years ago I had incorporated my business and that created more IRS paperwork that I could handle. Taxes has to be paid quarterly, and the forms aren't complicated but they make no logistical sense. It literally took me a day to file, reading the rules and filing out the forms and writing the check. Every three months I'd have to re-read the rules because again, unlike by business which is based on the fixed laws of physics, IRS rules are arbitrary and can change at the whim of some POS in a suit.

    So eventually I hired a CPA to do that for me. He filled out the forms, told me the amount of the check, I'd sign the forms and mail the shit to the IRS.

    Then one day I got a phone call, some little biatch at the IRS office, demanding that I now pay a $2000, 'because I had used the wrong form'. Then the $2000 became $4000 because I told her to pound sand.

    I called my congressman to complain, and he told me that since this was a corporation, I'd have to hire an attorney and go through another channel.

    To avoid this scam I killed the corporation and went back to running the business as a sole proprietor with a simple DBA. No more quarterly returns. And if the IRS fucks me, I can call my congressman.

    Since then my business has grown and I have consultants that work for me as non-employees. This avoids all the employee payroll tax bullshit. All I have to do is estimate my tax bill before December 31 and write a check for the year, less a few hundred bucks. Then file by April 15 and pay the remainder. Then send my consultants 1099-MISCs before February 1, then send a copy of those plus a 1096 to the IRS by March 1. Simple, and has gone like clockwork for ten years.

    Last year they added a new variant of the 1099 called the 1099-NEC: Non-Employee Compensation. It is obviously used for small businesses who prefer not to have employees because of that time and income destroying burden.

    Now here's how the IRS bully figured out how to screw us small guys. When you file a NEC, you must file the corresponding 1096 by FEBRUARY 1. AND the 1099/ 1096 forms, top sheet is in red ink that you are not allowed to download and send a facsimile copy. You MUST obtain an original print from IRS, archaically type or print on that, then mail the original. These forms are not available at the local post office, you have to send away for them, and they take at least two weeks to mail them to you. Mine took almost a month.

    So unless you are big enough to have an office manager or accountant to be on the ball and order this shit before the end of the year, it is improbable that you will make the deadline.

    I wonder how much Little Miss IRS Biatch will decide how much to fine me this time.
    FAKE NEWS!

  10. #8 | Top
    Join Date
    Sep 2009
    Posts
    107,358
    Thanks
    5
    Thanked 19 Times in 18 Posts
    Groans
    0
    Groaned 2 Times in 2 Posts

    Default

    Quote Originally Posted by floriduhfan View Post
    FAKE NEWS!
    Is that so?

  11. #9 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by floridafan View Post
    FAKE NEWS!
    Demonstrate how.

  12. #10 | Top
    Join Date
    Sep 2017
    Posts
    25,590
    Thanks
    79
    Thanked 9,916 Times in 6,548 Posts
    Groans
    2
    Groaned 1,882 Times in 1,756 Posts
    Blog Entries
    2

    Default

    Quote Originally Posted by China Joe View Post
    Demonstrate how.
    You are just a lying POS my dear, you have owned a business like trump was an alter boy.

  13. The Following User Groans At floridafan For This Awful Post:

    Underdog (03-01-2021)

  14. #11 | Top
    Join Date
    Jan 2018
    Location
    Digging up your yard.
    Posts
    8,682
    Thanks
    1,488
    Thanked 1,394 Times in 1,136 Posts
    Groans
    3,013
    Groaned 154 Times in 151 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by China Joe View Post
    The IRS is always looking for low hanging fruit to boost their revenues, and what better way than to fleece the small business owner.

    Ten years ago I had incorporated my business and that created more IRS paperwork that I could handle. Taxes has to be paid quarterly, and the forms aren't complicated but they make no logistical sense. It literally took me a day to file, reading the rules and filing out the forms and writing the check. Every three months I'd have to re-read the rules because again, unlike by business which is based on the fixed laws of physics, IRS rules are arbitrary and can change at the whim of some POS in a suit.

    So eventually I hired a CPA to do that for me. He filled out the forms, told me the amount of the check, I'd sign the forms and mail the shit to the IRS.

    Then one day I got a phone call, some little biatch at the IRS office, demanding that I now pay a $2000, 'because I had used the wrong form'. Then the $2000 became $4000 because I told her to pound sand.

    I called my congressman to complain, and he told me that since this was a corporation, I'd have to hire an attorney and go through another channel.

    To avoid this scam I killed the corporation and went back to running the business as a sole proprietor with a simple DBA. No more quarterly returns. And if the IRS fucks me, I can call my congressman.

    Since then my business has grown and I have consultants that work for me as non-employees. This avoids all the employee payroll tax bullshit. All I have to do is estimate my tax bill before December 31 and write a check for the year, less a few hundred bucks. Then file by April 15 and pay the remainder. Then send my consultants 1099-MISCs before February 1, then send a copy of those plus a 1096 to the IRS by March 1. Simple, and has gone like clockwork for ten years.

    Last year they added a new variant of the 1099 called the 1099-NEC: Non-Employee Compensation. It is obviously used for small businesses who prefer not to have employees because of that time and income destroying burden.

    Now here's how the IRS bully figured out how to screw us small guys. When you file a NEC, you must file the corresponding 1096 by FEBRUARY 1. AND the 1099/ 1096 forms, top sheet is in red ink that you are not allowed to download and send a facsimile copy. You MUST obtain an original print from IRS, archaically type or print on that, then mail the original. These forms are not available at the local post office, you have to send away for them, and they take at least two weeks to mail them to you. Mine took almost a month.

    So unless you are big enough to have an office manager or accountant to be on the ball and order this shit before the end of the year, it is improbable that you will make the deadline.

    I wonder how much Little Miss IRS Biatch will decide how much to fine me this time.




    Why did your accountant not pick up on this? I'd fire my comptroller if he didn't fix it. lol

  15. #12 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by floridafan View Post
    You are just a lying POS my dear, you have owned a business like trump was an alter boy.
    No doubt you could never imagine doing it yourself, so are projecting.

  16. #13 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by Big Money Dolla View Post
    Why did your accountant not pick up on this? I'd fire my comptroller if he didn't fix it. lol
    Read the OP for the answer. lol

Similar Threads

  1. Replies: 6
    Last Post: 09-02-2020, 10:32 AM
  2. Insurance Business = Legal Ponzie Scheme
    By bhaktajan in forum Current Events Forum
    Replies: 129
    Last Post: 09-10-2019, 01:49 PM
  3. Obama gets hug from small business owner
    By Guns Guns Guns in forum Current Events Forum
    Replies: 8
    Last Post: 09-10-2012, 10:05 AM
  4. Small Business plus Empathy
    By apple0154 in forum Current Events Forum
    Replies: 78
    Last Post: 01-24-2010, 12:05 PM
  5. Obama's war on small business
    By Canceled2 in forum Current Events Forum
    Replies: 1
    Last Post: 03-06-2009, 12:28 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •