View Full Version : IRS Stupidity
85Sooner
3/17/2006, 10:57 AM
OK, Now that I have filled out a 1040 for my THREE YEAR OLD.
It has a place for his signature. Hell, he can't even write. How stupid is this? This country has to do something about this criminal institution. A kid so young he can't even write has to pay taxes. SCREW THE IRS
Why does a 3 year old have to fill out a tax return?
85Sooner
3/17/2006, 10:59 AM
Why does a 3 year old have to fill out a tax return?
Capital Gains income.
mdklatt
3/17/2006, 11:00 AM
Capital Gains income.
How is little Bruce Jr. doing? ;)
I started to put a disclaimer on my post about this being some kind of Bruce matter.
:D
85Sooner
3/17/2006, 11:07 AM
How is little Bruce Jr. doing? ;)
Heck he pays more in taxes than 40% of the US population and yet can't vote. There has got to be some law that addresses that. How can you be a tax paying citizen and not be allowed to vote yet we have a bunch of deadbeat citizens that don't pay taxes that DO get to vote. We need a change:):D
Frozen Sooner
3/17/2006, 11:16 AM
Why are you filing his taxes separately? Claim his income as yours and throw him down as a dependent.
Hatfield
3/17/2006, 11:29 AM
uhmmm....i guess killing him is not an option?
85Sooner
3/17/2006, 12:03 PM
Why are you filing his taxes separately? Claim his income as yours and throw him down as a dependent.
can't do that. He has actual capital gains. I can only put him on my form if he has only interest, dividends or capitol gain distributions. No Where on the form for actual capital gains. Another problem devised by the idiots elected to office.
salth2o
3/17/2006, 12:03 PM
e-file anyone?
Pricetag
3/17/2006, 01:35 PM
How is your kid making money?
1stTimeCaller
3/17/2006, 01:36 PM
hand over fist
RacerX
3/17/2006, 03:56 PM
That's what happens when you sell your kids.
85Sooner
3/17/2006, 04:37 PM
How is your kid making money?
investments
investments
Does he like the SBC/AT&T merger?
What is his feeling on the housing bubel?
mdklatt
3/17/2006, 04:41 PM
What is his feeling on the housing bubel?
There is only one kind of bubble a 3 year old knows about.
http://media.urbandictionary.com/image/large/snotbubble-40797.jpg
TUSooner
3/17/2006, 04:48 PM
I've seen tha snot bubble a zillion times but it always cracks me up anyway.
but I digress...Complaints about your kid's capital gains are right up there with complaints about your maid, your swimming pool, and your Lexus that I just can't relate to and refuse to sympathize with.
;)
swardboy
3/17/2006, 04:52 PM
I don't want to hear yer whining! Get a message to your senators and congressman that they better get the FAIR TAX ACT passed or it's REVOLUTION TIME!
Then you can laugh at the former IRS agents as they fill the unemployed ranks...sweet.
85Sooner
3/17/2006, 05:19 PM
I don't want to hear yer whining! Get a message to your senators and congressman that they better get the FAIR TAX ACT passed or it's REVOLUTION TIME!
Then you can laugh at the former IRS agents as they fill the unemployed ranks...sweet.
I like your thinking.
just place his little hand on an ink pad then put his hand on the sig
Heck he pays more in taxes than 40% of the US population and yet can't vote. There has got to be some law that addresses that. How can you be a tax paying citizen and not be allowed to vote yet we have a bunch of deadbeat citizens that don't pay taxes that DO get to vote. We need a change:):D
I seriously believed once that only taxpayers should get to vote. Problem is, what about retired people, housewives, disabled, etc? So, I have changed it to "anyone who is on public assistance (except the elderly and handicapped) loses their voting rights"
This way you don't have people voting for politicians that will give them the biggest peice of the pie.
Stoop Dawg
3/17/2006, 05:45 PM
I seriously believed once that only taxpayers should get to vote. Problem is, what about retired people, housewives, disabled, etc? So, I have changed it to "anyone who is on public assistance (except the elderly and handicapped) loses their voting rights"
This way you don't have people voting for politicians that will give them the biggest peice of the pie.
So you're thinking that if someone pays taxes then they won't vote for a politician that offers them (or their business, or their community) a huge benefit?
That's ... uh ... interesting.
So you're thinking that if someone pays taxes then they won't vote for a politician that offers them (or their business, or their community) a huge benefit?
That's ... uh ... interesting.
No, I'm saying if you're a leach or a bum, and you do not contribute to society, then you should not have the right to vote. Specifically, any non-disabled/non-elderly who is on welfare and doesn't have a job. IN OTHER WORDS- PEOPLE WHO ARE TOO LAZY TO WORK.
mdklatt
3/17/2006, 05:51 PM
No, I'm saying if you're a leach or a bum, and you do not contribute to society, then you should not have the right to vote.
Good luck getting Congress to pass a law that takes their right to vote away.
1stTimeCaller
3/17/2006, 05:53 PM
you think those people vote?
you think those people vote?
Does a bear crap in the woods?
1stTimeCaller
3/17/2006, 05:56 PM
Does a bear crap in the woods?
not if he lives in desert ;)
Stoop Dawg
3/17/2006, 06:20 PM
No, I'm saying if you're a leach or a bum, and you do not contribute to society, then you should not have the right to vote. Specifically, any non-disabled/non-elderly who is on welfare and doesn't have a job. IN OTHER WORDS- PEOPLE WHO ARE TOO LAZY TO WORK.
Oh, okay.
I'd rather get those people off govt assistance, though.
Stoop Dawg
3/17/2006, 06:23 PM
And as for the original post, if the IRS were to exempt children under 18 from having to file tax forms, you'd have a very large number of millionaire minors in this country over night. I'm not sure that such a loophole would be good for the national debt.
Why does your 3 year old need investments?
I say just give the tot a crayon, have him scribble around the signiture line, and send the form in to the IRS
In fact, just fill out the WHOLE THING with crayon scribbles and send it in. What are they going to do? Send a 3 year old to Club Fed?
What are they going to do? Send a BATFE tactical team to do a dynamic entry into your home to arrest a toddler?? Wait! Nevermind, they actually might do that.
Stoop Dawg
3/17/2006, 06:49 PM
College?
While I'm certainly no expert in the matter, I think there are a number of good ways to save for your child's college education without having that child need to file a tax return.
My hunch is that he's investing in his kid's name to try to avoid paying higher taxes on his own return. I have absolutely no problem with that, but turning around and complaining about having to file a tax return seems ironic. Or, maybe he has a very different, very valid reason (other than tax avoidance). I'd be interested to know.
85Sooner
3/17/2006, 11:38 PM
While I'm certainly no expert in the matter, I think there are a number of good ways to save for your child's college education without having that child need to file a tax return.
My hunch is that he's investing in his kid's name to try to avoid paying higher taxes on his own return. I have absolutely no problem with that, but turning around and complaining about having to file a tax return seems ironic. Or, maybe he has a very different, very valid reason (other than tax avoidance). I'd be interested to know.
Not at all. WE don't earn that much. When My son was born My wife and I decided to put 5k in an account for him. It could be for education, or a myriad of other things. THen we put 1k in for every birthday. THat way when he does come of age, hopefully he will have some ability to start off right. Keep in mind that I have full control until 18 and it can be reversed if I so choose.(if he decideds to be an idiot) He has more at 3 than I had at 30. Hopefully this will allow him options that I never had.
As for voting, I believe once you are on government assistance, That one of your payments/reimbursements should be your vote. We are Damn near 49% of the pop not paying fed income tax. Once that is over 50% this country will go downhill faster than the majority of this board on Jessica Simpson.
.
Once that is over 50% this country will go downhill faster than the majority of this board on Jessica Simpson
TELL ME HOW LACHEY TASTES
Stoop Dawg
3/18/2006, 03:29 PM
Not at all. WE don't earn that much. When My son was born My wife and I decided to put 5k in an account for him. It could be for education, or a myriad of other things. THen we put 1k in for every birthday. THat way when he does come of age, hopefully he will have some ability to start off right. Keep in mind that I have full control until 18 and it can be reversed if I so choose.(if he decideds to be an idiot) He has more at 3 than I had at 30. Hopefully this will allow him options that I never had.
Good job saving for your kid's future. It would be great if more parents did that. I probably would have just opened a new account in my name then transferred it to his name when necessary. But I guess it doesn't matter.
Bottom line, I don't think it's stupid for you to have to pay taxes on the earnings. But people think I'm too serious around here anyway, so maybe you were just joking.
85Sooner
3/18/2006, 03:39 PM
Bottom line, I don't think it's stupid for you to have to pay taxes on the earnings. But people think I'm too serious around here anyway, so maybe you were just joking.
Yeah, He is taxed 0.00 on the first 800.00 then at a lower rate on the next 800.00 then at my rate for everything over. So its not really like your trying to dodge or lower your tax rate. I just wish there were a different way. iT IS SUCH A rip off the way its currently done.
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