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IRS to Mine Payment Data on Mortgages

hypocritexposer

Well-known member
How many retired folks with savings is this going to catch in their web?

IRS to Mine Payment Data on Mortgages
September 01, 2009

Coming from the office of a known tax cheat owing well over 100K to the IRS, Timothy Geithner

By MARTIN VAUGHAN

WASHINGTON -- The Internal Revenue Service will expand a program designed to catch tax cheats that searches for inconsistencies between mortgage payments and income.

After prompting from an IRS auditor, the agency will study whether it should make greater use of data on mortgage-interest payments provided to it by banks. The IRS currently uses such data to send notices to non-filers who it believes should have filed a return.

The data could also be used to target for audits individuals who don't file tax returns, or who report less income than they paid in mortgage interest, according to a letter released Monday by the Treasury inspector general for tax administration.

"We shouldn't presume that these struggling families are tax cheats just because they continue to make their mortgage payments despite losing their income," said Rep. Charles Boustany (R., La.), the ranking minority member on the House Oversight Subcommittee.
 

nonothing

Well-known member
hypocritexposer said:
How many retired folks with savings is this going to catch in their web?

IRS to Mine Payment Data on Mortgages
September 01, 2009

Coming from the office of a known tax cheat owing well over 100K to the IRS, Timothy Geithner

By MARTIN VAUGHAN

WASHINGTON -- The Internal Revenue Service will expand a program designed to catch tax cheats that searches for inconsistencies between mortgage payments and income.

After prompting from an IRS auditor, the agency will study whether it should make greater use of data on mortgage-interest payments provided to it by banks. The IRS currently uses such data to send notices to non-filers who it believes should have filed a return.

The data could also be used to target for audits individuals who don't file tax returns, or who report less income than they paid in mortgage interest, according to a letter released Monday by the Treasury inspector general for tax administration.

"We shouldn't presume that these struggling families are tax cheats just because they continue to make their mortgage payments despite losing their income," said Rep. Charles Boustany (R., La.), the ranking minority member on the House Oversight Subcommittee.


You are Canadian,why do you care?
 

Steve

Well-known member
hypocritexposer said:
How many retired folks with savings is this going to catch in their web?

IRS to Mine Payment Data on Mortgages
September 01, 2009

Coming from the office of a known tax cheat owing well over 100K to the IRS, Timothy Geithner

By MARTIN VAUGHAN

WASHINGTON -- The Internal Revenue Service will expand a program designed to catch tax cheats that searches for inconsistencies between mortgage payments and income.

After prompting from an IRS auditor, the agency will study whether it should make greater use of data on mortgage-interest payments provided to it by banks. The IRS currently uses such data to send notices to non-filers who it believes should have filed a return.

The data could also be used to target for audits individuals who don't file tax returns, or who report less income than they paid in mortgage interest, according to a letter released Monday by the Treasury inspector general for tax administration.

"We shouldn't presume that these struggling families are tax cheats just because they continue to make their mortgage payments despite losing their income," said Rep. Charles Boustany (R., La.), the ranking minority member on the House Oversight Subcommittee.

state audits seem to be increasing,.. like any business when revenue is down you have two choices.. cut costs.. which is impossible for the fed to do.. or get new revenue sources..

state income tax audits appear to be hitting alot of small businesses out here, and I know of a few who have seen audits of inheritance issues..

so if the IRS will go after the dead... and small businesses.. then I would presume grandma is fair game..

you don't have to increase taxes to make the poor pay more taxes.. as we can't afford the litigation to resolve tax disputes, so often we just have to pay....
 

TexasBred

Well-known member
nonothing said:
hypocritexposer said:
How many retired folks with savings is this going to catch in their web?

IRS to Mine Payment Data on Mortgages
September 01, 2009

Coming from the office of a known tax cheat owing well over 100K to the IRS, Timothy Geithner

By MARTIN VAUGHAN

WASHINGTON -- The Internal Revenue Service will expand a program designed to catch tax cheats that searches for inconsistencies between mortgage payments and income.

After prompting from an IRS auditor, the agency will study whether it should make greater use of data on mortgage-interest payments provided to it by banks. The IRS currently uses such data to send notices to non-filers who it believes should have filed a return.

The data could also be used to target for audits individuals who don't file tax returns, or who report less income than they paid in mortgage interest, according to a letter released Monday by the Treasury inspector general for tax administration.

"We shouldn't presume that these struggling families are tax cheats just because they continue to make their mortgage payments despite losing their income," said Rep. Charles Boustany (R., La.), the ranking minority member on the House Oversight Subcommittee.


You are Canadian,why do you care?

You obnoxious SOB...you've posted that same comment about a dozen times this week. What the hell gives with you????
 

aplusmnt

Well-known member
TexasBred said:
nonothing said:
hypocritexposer said:
How many retired folks with savings is this going to catch in their web?


You are Canadian,why do you care?

You obnoxious SOB...you've posted that same comment about a dozen times this week. What the hell gives with you????

Nonothing is jealous that hypocrite has been accepted and he hasn't. Just a jealous kid being obnoxious!
 
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