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Question about taxes


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Hey, does anyone here have extensive knowledge about tax laws, at least at the federal level? I know someone who hasn't done them in a couple years, and have questions about their potential ramifications.

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OK So the short version is the person his a senior citizen, who owns a home, lives alone and is widowed, in very poor health, and brings in about $55k/year on retirement. They own their home, and usually do not owe taxes, because they file all kinds of deductions (charity mostly, which I question if there is enough there to even matter, along with medical and dental bills, and the usual house deduction). This person was in the hospital the first quarter of 2019, and recovering the second quarter. They asked for an extension through OCT 2019 to finish their 2018 taxes, but never did them. Then never finished 2019 taxes by July 2020.

 

This person is basically in severe denial, and every time they sit down to sort receipts and such to do the taxes, they get overwhelmed and quit. I offered to help sort the essentials, but know very little how they typically file, and that person has also declined my help.

 

I am trying to convince this person that in times like these with the national debt going up, the IRS will be looking at everybody. This person was audited about 8 years ago, and literally almost had a heart attack. SO I am trying to use reason, which does not work on this person. I have even told this person that if something were to happen to them, it would be a huge mess for their executor of their estate, and it could also possibly cause the estate to go into probate. This is somewhat of a fib on my part, to light a fire under their butt to get busy.

The thing is, I suspect my fib really is not all that far from the truth. I was hoping if someone is knowledgeable about taxes, if they could be willing to advise specific consequences.

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Did you say he typically gets a refund every year? If that's the case, federal and state taxes may not bother him. Just a guess though. Do they pay their land and/or property taxes?

Yeah usually a refund from state, or owes very little. On Fedsm almost always refund. Amounts vary, though.

 

I am not sure about the property taxes, but since they are still making payments, he must carry insurance, and I believe property taxes are also deducted from his monthly payment.

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Hey, does anyone here have extensive knowledge about tax laws, at least at the federal level? I know someone who hasn't done them in a couple years, and have questions about their potential ramifications.

I haven't done mine in 5 years. Following

 

From what I understand, there are set penalties for failing to file, even if they owe you money. You can file extensions forever so they do give you an out, but I stopped doing those after 2 years or so. The first year I filed but it came back to me months later because it was sent to the wrong address (A friend in finance 'helped' me). That got water on it as I dumped a glass and it was my only copy so I hadn't sent it back, but they owed me about $2500 on that one. I tried doing the following year and just am not capable. Then , whatever. I am SURE they owe me for the past 2 years an the other one in the middle-well i just didn't do it. Downside is I never got a stimulus check.

 

My PLAN is to just call them ask why they aren't corresponding with me and they owe me and wtf and see how that goes....;-

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True, not all libertarians are anarchists, but all anarchists, in my opinion and in the opinion of many others, are libertarians. It is debatable. Some believe anarchism is distinct from libertarianism, while others like myself believe it is the pinnacle of it. It doesn't really matter, truthfully, even though some people choose to get offended one way or the other.

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Yeah, you're going to jail.

No, PRISON. Federal PRISON

 

 

Damnit, we have a libertarian in our midst??!

Not only that, but I am an anarchist, the pinnacle of libertarianism. Anarcho-capitalist, to be exact.

Why?

Anarchy and capitalism? Is this like when ted cruz said he listens to Rage Against The Machine?

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Capitalism really needs to be free from the state to be a truly free market. What he have is pseudo-capitalism, which is mixed with a bit of socialism and other stuff.


 

Yeah, you're going to jail.

No, PRISON. Federal PRISON


 

Damnit, we have a libertarian in our midst??!

Not only that, but I am an anarchist, the pinnacle of libertarianism. Anarcho-capitalist, to be exact.

 

Why?

 

Because I don't know how to tell people how to run their lives.

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