@Anona & O-Kay – Hahaha! We actually have to keep them for up to 7 years because the IRS is able to audit you years after the taxes are filed. Makes sense considering how many tax payers there are, plus it can take time to fully investigate some cases.While I don’t like the complexity of the US tax code, I sure do enjoy that our taxes are lower than in most countries, so I’m willing to put up with a little pain. It should be simpler, but there are too many groups who politicians give tax credits/deductions to. Sometimes this is good for our economy or people, and sometimes it’s bad. Even after the tax code is simplified, plenty of groups have lobbied to add exemptions back. Not so easy to fix…
Over here we just PAYG – the tax comes off your wages every week or month. You can still make a claim if circumstances change, but most of the time it’s done and dusted as you go along.
Not that I even PAYG – I’ve never earned enough to pay tax anyway.
My husband is from England and he said it was nice not to have to bother with any of it….taken at the source, no muss, no fuss. AND they actually get something for their taxes.
legaleagle48 over 8 years ago
Again, nice try, Cathy — but I don’t think that’s what Congress had in mind when it drafted that provision in the Tax Code!
gobblingup Premium Member over 8 years ago
Hmm, does that “club” fall under section 501©(3) of the IRS code, Cathy? Nope, but you can file jointly now, if that helps you (sometimes it doesn’t)..Hello Cathy friends!
AnonaMoaner over 8 years ago
All that business of keeping every receipt and bill for a whole year sounds so complicated! I’m glad I live on this side of the Pond.
gobblingup Premium Member over 8 years ago
@Anona & O-Kay – Hahaha! We actually have to keep them for up to 7 years because the IRS is able to audit you years after the taxes are filed. Makes sense considering how many tax payers there are, plus it can take time to fully investigate some cases.While I don’t like the complexity of the US tax code, I sure do enjoy that our taxes are lower than in most countries, so I’m willing to put up with a little pain. It should be simpler, but there are too many groups who politicians give tax credits/deductions to. Sometimes this is good for our economy or people, and sometimes it’s bad. Even after the tax code is simplified, plenty of groups have lobbied to add exemptions back. Not so easy to fix…
erin.adamic Premium Member over 8 years ago
Nice, Cathy. Should have been a lawyer. Though I guess then you’d have a whole other set of tax issues …
AnonaMoaner over 8 years ago
Over here we just PAYG – the tax comes off your wages every week or month. You can still make a claim if circumstances change, but most of the time it’s done and dusted as you go along.
Not that I even PAYG – I’ve never earned enough to pay tax anyway.
lindz.coop Premium Member over 8 years ago
My husband is from England and he said it was nice not to have to bother with any of it….taken at the source, no muss, no fuss. AND they actually get something for their taxes.
rgcviper over 8 years ago
Go ahead, boss. Roll your eyes. You know you want to … and you know I just did.
HI, MOM. Greetings, Clan.