THE MAX ALLEN REPORT
Volume #12051940 December 5, 2023
The penalty for ‘underpayment’ more than doubles.
Only two years ago the Internal Revenue Service assessed a penalty for not paying enough in taxes was 3%. Now it’s 8% and many people want to know just what in Hell is going. They want to know how it can possibly be justified.
●The answer is: It can’t!●
The IRS has long
made it policy, penalizing workers who are on ‘pay
as you go’ status. The
self-employed workers of
It’s always been a thorn in the side of the self-employed because they are left with the daunting task of ‘guesstimating’ what their tax burden will be from year to year. If they overpay, they get the difference back in a month or two, or three. If they underpay by virtually any amount, they are penalized by the IRS. This process is much faster than the refund process. And the IRS isn’t penalized for taking in too much.
Shouldn’t there be an overpayment penalty against the IRS? After all, isn’t what’s good for the goose also good for the gander. This one-sided and unjust situation exists to this day.
In 2021 that payment penalty stood at 3%, up from the 1.5% of previous years. As criminal as this seems, now these b@stards at the IRS have upped the penalty to 8%! That’s nearly 3 times more than before. From a slap in the face to a kick in the nuts, the IRS is immune from dictatorial policies and rules cum laws. When contacted, they refused comment.
●They have refused comment●
Many Americans who are ‘traditionally employed’ will declare an extra deduction on their tax withholding forms so they can put a few extra dollars back in their pockets on payday. When a ‘boo boo’ happens the IRS informs them of the 3% penalty on taxes owed. The 3% isn’t such a hurdle as to cause problems, only a little annoyance. That was then, this is now. Now it’s 8%, more than a petty annoyance and inconvenience, ain’t that a kick in the nuts!
Like so many other government agencies, the IRS enjoys complete autonomy as their ‘rules and regulations’ become law the moment they are drafted. There is no required path through the Legislature, and Executive branches of government. Somehow they’ve been allowed to circumvent the guarantees promised by the Constitution.
Something has got to be done. It’s not just the IRS, but also ATF, FBI, INS, and a host of other federal agencies allowed to empower unelected bureaucrats to become laws unto themselves. This is bureaucratic tyranny. We need to do something, and now! Our next president needs to step up to the plate and get this done. It’s obvious this president won’t.
I’m Max, and that’s the way I see it!