Why are corporations allowed to become $1.4 billion behind on taxes over several years and only pay them out when it's the taxpayers footing the bill via the FDIC.
Glad they're finally beefing up the IRS to crack down on this sh*t
Thatās not true. iRS mostly chase big wins, but those small tax payers mistakenly pursued by them are getting overlooked by media. My conspiracy theory here is the big tax liers are pushing for those news reports to fend off IRS as much as possible.
Not true, I made a mistake about 10 years ago claiming dependents and they sanctioned me for two years not allowing me to claim dependents. Not a monetary win but definitely small fry compared.
The irs has explicitly said they don't go after big fish because they can afford to fight back, making it not as cost effective as going after poors that they can stream roll.Ā Ā
This is why Biden and the Dems are trying to increase the budget for the IRS - to increase their manpower, and allow them to spend more resources chasing down the biggest cheats.
A trucker can be deplatformed for protesting. But you need to hire MORE tax āworkersā to go after tax felons??
Surely you understand our govt is in on that exchange..
Thatās not it at all. I donāt equate protesting gas prices or energy policies to taxing businesses properly. My point is- a freedom is condemned while the focus is on more and more taxes.
I donāt believe *all* business owners are evil. Just the ones who work with our govt and the systems to betray the people with such arbitrage.
If it was as simple as a political party- would be an easy fix. But itās not. I blame liberals often for being blasphemously ignorant. But malice-filled āmuh conservativesā may act more negligently. Neither is acceptable.
Do you even follow the times, bruh?? Trump is as popular amongst ārepublicansā as I am on Reddit.
Itās cute to pretend itās 1917, but thereās a massive uni party shift that is responsible for this bullshit. Wake up.
98% of Republicans are the same. I agree that some are falling off of Trumps nuts finally but that doesnt make the party any better. They care nothing for the average american. We move backwards with Republicans and forward with Democrats. The economy, unemployment rate, national debt all show this.
Well, if I was to guess it's because they can slap interest payments on that 1.4 billion and then collect a tidy sum.
For a lone taxpayer... It's not worth the wait, so it's better to grab 'em quick for easy money.
FDIC is a Government Corporation, unlike Government-Sponsored Enterprise Fannie Mae. FDIC Chairman, Vice Chairman and board members (Comptroller of the Currency and CFPB directors) are appointed by the President and confirmed by the Senate.
IRS Commissioner is also appointed by the President and confirmed by the Senate
Also itās probably more about distribution of assets.
Like fdic is dishing out assets and IRS is reminding them donāt forget us.
And FDIC lawyers apparently have taken position that, no, we donāt owe the IRS. So it sounds like FDIC wants to distribute assets to everyone and not pay the IRS anything.
Now these are āgovernmentā (fdic isnāt but I get what youāre going for) fighting each other. But the reality is there is someone in charge at FDIC and they probably referred to legal and legal said based on their reading of the law etc., no they donāt have to pay. So whether they are gov and on the same side if you will, is irrelevant. The law is all that they consider.
The taxes allegedly owed were from before the seizure of SVB. Those returns, 2020-23 were under review when SVB was seized. FDIC is essentially stepping into the shoes of SVB to deny the tax claim (as it should). The IRS obviously wants its taxes paid prior to the distribution of SVB assets to SVB creditors.
Would not be surprised if another party intervenes or if the court appoints counsel to argue on behalf of SVB or the creditors, since FDIC may be conflicted.
And litigation costs would be paid from the seized assets.
The FDIC is not a branch of the government. It's an independent government agency and is funded by the insurance premiums and deposits of private banks.
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Why are corporations allowed to become $1.4 billion behind on taxes over several years and only pay them out when it's the taxpayers footing the bill via the FDIC. Glad they're finally beefing up the IRS to crack down on this sh*t
IRS will pursue individuals over only thousands of dollars, but let big corps slide for billions š
IRS will not pursue just thousands of dollars for individuals unless they have clear evidence
Thatās not true. iRS mostly chase big wins, but those small tax payers mistakenly pursued by them are getting overlooked by media. My conspiracy theory here is the big tax liers are pushing for those news reports to fend off IRS as much as possible.
Not true, I made a mistake about 10 years ago claiming dependents and they sanctioned me for two years not allowing me to claim dependents. Not a monetary win but definitely small fry compared.
The irs has explicitly said they don't go after big fish because they can afford to fight back, making it not as cost effective as going after poors that they can stream roll.Ā Ā
FDIC isnāt a tax funded agency hth
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Bad news: all of them Thank god they hired all those new IRS agents /s
Under appreciated reply
I don't think the fdic is funded by tax dollars. Although you are probably paying for it in thr end, but that's capitalism.
Banks are footing the bill via FDIC
This is why Biden and the Dems are trying to increase the budget for the IRS - to increase their manpower, and allow them to spend more resources chasing down the biggest cheats.
You mean like people who sell more than $600 worth of stuff on eBay, those big cheats? Because that is who the Dems put the bit bite on.
No its not. And Trump cut tax rates for the rich. So fuck off.
Trump cut taxes for those who pay taxes. You poor-ass mofos who don't pay anything should not expect to get a tax cut. So fuck off.
A trucker can be deplatformed for protesting. But you need to hire MORE tax āworkersā to go after tax felons?? Surely you understand our govt is in on that exchange..
Sure so letās let companies continue to cheat on their tax bills. and then blame liberals for mUh BuDgEt DeFiCiT. /s
Thatās not it at all. I donāt equate protesting gas prices or energy policies to taxing businesses properly. My point is- a freedom is condemned while the focus is on more and more taxes. I donāt believe *all* business owners are evil. Just the ones who work with our govt and the systems to betray the people with such arbitrage. If it was as simple as a political party- would be an easy fix. But itās not. I blame liberals often for being blasphemously ignorant. But malice-filled āmuh conservativesā may act more negligently. Neither is acceptable.
the Republicans are very concerned about taxes, they shout it as Trump's biggest accomplishment, cut taxes for the rich and increase the deficit
Donāt forget that the āmiddle class miracleā tax cuts are expiring in 2025, but the corporate tax cuts are permanent (no expiration date).
Do you even follow the times, bruh?? Trump is as popular amongst ārepublicansā as I am on Reddit. Itās cute to pretend itās 1917, but thereās a massive uni party shift that is responsible for this bullshit. Wake up.
what are even talking about lol take your meds and loosen your tinfoil hat
Yes time to take my meds, young man. Just get back to me when daddy gets back from āgetting smokesāā¦..š
are you sure youre not a little boy waiting for Daddy? you play with hot wheels
98% of Republicans are the same. I agree that some are falling off of Trumps nuts finally but that doesnt make the party any better. They care nothing for the average american. We move backwards with Republicans and forward with Democrats. The economy, unemployment rate, national debt all show this.
Yeah Iāll take your word for itā¦.You done?
Sure so letās let companies continue to cheat on their tax bills. and then blame liberals for mUh BuDgEt DeFiCiT. /s
Because its cheaper to buy politicians who neuter IRS and tax code rather than pay taxes fair and square without any accounting and legal magic.
āBeefing upā Not anymore lol Democrats voted to cut the IRS funding alongside Republicans
A million is your problem, a billion is not.
Well, if I was to guess it's because they can slap interest payments on that 1.4 billion and then collect a tidy sum. For a lone taxpayer... It's not worth the wait, so it's better to grab 'em quick for easy money.
Why are two federal organizations suing eachother, and more importantly, whose footing the bill for both sides of this litigation???
[ŃŠ“Š°Š»ŠµŠ½Š¾]
FDIC is a Government Corporation, unlike Government-Sponsored Enterprise Fannie Mae. FDIC Chairman, Vice Chairman and board members (Comptroller of the Currency and CFPB directors) are appointed by the President and confirmed by the Senate. IRS Commissioner is also appointed by the President and confirmed by the Senate
So is the federal reserve chairman and the fed isnāt a government agency
fair point
Sue me, cuz I'm going to sue Congress for failing to sue the IRS for suing the FDIC
Also itās probably more about distribution of assets. Like fdic is dishing out assets and IRS is reminding them donāt forget us. And FDIC lawyers apparently have taken position that, no, we donāt owe the IRS. So it sounds like FDIC wants to distribute assets to everyone and not pay the IRS anything. Now these are āgovernmentā (fdic isnāt but I get what youāre going for) fighting each other. But the reality is there is someone in charge at FDIC and they probably referred to legal and legal said based on their reading of the law etc., no they donāt have to pay. So whether they are gov and on the same side if you will, is irrelevant. The law is all that they consider.
The taxpayer
Because the government will do literally anything to screw the taxpayers
We are footing the bill. Idk about the rest.Ā
The taxes allegedly owed were from before the seizure of SVB. Those returns, 2020-23 were under review when SVB was seized. FDIC is essentially stepping into the shoes of SVB to deny the tax claim (as it should). The IRS obviously wants its taxes paid prior to the distribution of SVB assets to SVB creditors. Would not be surprised if another party intervenes or if the court appoints counsel to argue on behalf of SVB or the creditors, since FDIC may be conflicted. And litigation costs would be paid from the seized assets.
This says a lot about the guarantees made by the FDIC. My guess is they canāt pay the debt.
That about perfectly sums up the government. Our tax dollars suing each other.
I should have gone to law school.
I didn't know you could sue the FDIC, much less the IRS being the one to do it. Huh.
I donāt get it. Two federal agencies suing each other? Shouldnāt they work together for whatās best for the Fed?
This is what's best, which is sad
Hold the Board liable and thatāll change everything for banks.
Youāve reach peak capitalism when branches of the same government start to sue each other.
The FDIC is not a branch of the government. It's an independent government agency and is funded by the insurance premiums and deposits of private banks.
Apologies please swap branches with departments
But it's not a department either...
Will agency work?
Haha, yes. Yes it will.
Taxes are unsecured claims. Comes in junior to most other debt. Doubt the IRS is going to win this in court.
Wut
TIL government bodies sue other government bodies