I only have to keep tax receipts for seven years. Thermal paper isn't a great choice, but more formal laser printed receipts are.
Here in Australia, paper is far more authoritative than email, because decision makers think they understand paper. Muppets. I was photo shopping medical certificates when I was still in high school...
yeah, i had a friend who liked to play such games. they work of course. forensics is always an afterthought. pen pushers working for the government are mostly in a permanent trance. no independent thought. just do the work and go home and guzzle a sixpack and that's yer day.
Yeah you're suppose to keep any tax related records in the US for 7 years, but I throw everything away. IMO if the IRS wants records maintained they can do it themselves. Not my problem if they they can't figure out whether or not I paid my taxes correctly. 🤷🤣
LOL very true.
Its not your fault, but it is your problem, though. They can and will lock you up if they think the example will lead to more revenue...
Alfons Capone was not prosecuted for racketeering, bootlegging, or murder. He was prosecuted for not paying taxes. But the reason they were able to prosecute him is that they got ahold of his ledgers that detailed all of his income. If there are no records, then they can't prove anything.
"Cash is King!" I like to tell my customers. If neither of us is putting the transaction in writing, The Man can go f--- himself.
The issue is if I didn't keep a record but my counterparty did. The odds of a random tax audit are really really low, but my counterparty could get involved in fraud or bankruptcy, and have the bank do the initial audit...
The IRS doesn't even have the manpower to audit all of the wealthy people in the USA. I'm not worth their time. Real tyranny will happen when they finally acquisition an AI system that can audit billions of financial transactions every year. But even then they'll need the lawyers to prosecute cases against people. For now the best thing for most people is to keep your tax fillings as simple as you possibly can. Things like doing itemized deductions raise your audit risk. Take the standard deduction even if you end up paying a little more that way. Keep it as simple as possible and you'll fly under their radar.
Very good points.
My concern is in an economic downturn, they will "streamline" their own rules. Due process has a much weaker grip here in Australia.
I want my every transaction either fully off books, or as boringly compliant as possible. I am worth their time, if only just, and many of us might suddenly become worth their time if they get really hungry...
y'all must have IRS agents milling about around you or something, how the fuck do they get such an intimidating reputation if they aren't feeding masses of snitches?
fair enough play by the rules if you have a shopfront or something but when most of your customers are informal af why file???
uggly corrupt shit... yeah, if ya gotta deal with normies ya gotta do normy shit.
doesn't seem to be so relevant as the economy is crumbling tho.
i say, probably is gonna be cheaper to dodge them and pay the fine later.
works for corporations.
tax is a literally fraudulent debt claim so i say, erroneous goals, erroneous methods.
Corporations can bilk normies for billions in false invoicing, and if caught its "oh well". You or I do that - its off to jail.
I have just enough assets to be worth robbing, but not enough to get the bulk discount on politicians.
Cash, #monero and noncustodial Lightning look like the best ways forward...
why would you keep the same bitcoin wallet through tax periods anyway? how they gonna prove any of it is your address without you still having that key? smh.
