Basically, if the SSA accidentally paid out too much money to your parents, they will take out the excess from YOUR tax return. http://www.cnbc.com/id/101576080?__source=xfinity%7Chero&par=xfinity More at link.
So, if I understand this correctly, the IRS is looking for money from the formerly-dependent children of those who owed taxes, and they'll take it out of the descendant's tax return - but if they don't receive a return , or owe taxes at the end of the year, the IRS is not going to come after them by seizing other assets. Sounds like all you'd have to do is structure your finances so that you won't get a return or, if you are owed, it isn't much.
Heard this on the radio yesterday, but I couldn't find anything about it. Thanks for the link. Unreal.
It's not that they necessarily "owed" taxes. If Social Security messed up and paid out too much to someone, they are going to take that money back. If the person they overpaid is dead, they are going to take it from the children's tax return. There used to be a 10 year statute of limitations, but a single sentence in a recent FARM bill removed it. There are cases of them going back 50 years to collect on their mistake. And they don't even need proof of the over payment. They can just say it's so.
Im not underatanding this... They receive SSI throughout the year. Come april next year they file their taxes, which they claim all of their SSI. SSI taxability has a limitation depending on you AGI. Unless they're receiving more SSI than the government knows about which is highly unlikely. This is why people should still know how to do taxes by hand.
Taxes are stealing. And if I remember correctly, our country was founded on no taxation without representationand I dont think we can call this govt of ours a proper representing body of the average American citizen.
They overpaid my friend for her disabled son, and now that she's dead, they're taking it out of her son's survivor benefits instead of from her estate. It utterly blows.
yes but taxes have been around since before modern society. Like they say, the only unavoidable things in life is death and taxes
Only a "anarchist" could equate slavery, rape and murder to taxation. Boundaries my friend, boundries.
Yes and in exchange for a portion of your paycheck they lock up the murdereds to protect you and your lovely family.
"No taxation without representation" was a phrase coined over 250 years ago and should be changed to "No involuntary payment systems", in my opinion. Theft with 'representation' is still theft, especially when huge amounts of that money goes towards the costs of corruption and corporate welfare.
so comparing taxes to murder and rape in your eyes is logical? Even comparing theft in its purest form to rape or murder is illogical
taxes are global never said it was just a problem here in the states. If the taxes are levied for a proper purpose as well as being used strictly for that purpose then by all means but u got politicians pocketing tons of taxpayer money for no good reason except they re greedy.