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Video instructions and help with filling out and completing Irs amnesty program

Instructions and Help about Irs amnesty program

Hey Anthony hello Claudia today we're talking about federal tax amnesty for 2022 that's right but there really isn't federal tax amnesty yeah that's one of those things man people keep searching for this term and it's the what they call our office to say I'm interested in a federal tax amnesty program and it really isn't such a thing and I think where the confusion comes from comes from States because states state revenue agencies are usually always running some sort of tax amnesty program yes and it makes sense when you think about what they were doing if you look at you know I've looked at a lot of the bills the states put in they say you know I'll tack the legislators and get together to say we need to have a tax the amnesty to raise revenue and give people a fresh start you know a clean fresh start and so they all talk about it's like yep this is going to increase our revenue if we do this taxing amnesty like we've had people haven't paid taxes in a long time if they you know usually the tax amnesty is like it doesn't matter what your ability to pay is right if you as long as you pay this amount by this date you know they won't prosecute you criminally and they're going to give you a break on your taxes there's nothing to do with your ability to pay you know if you could afford to pay the whole thing you don't have to and that's kind of how those tax amnesty works all right and there one time in there like one time thing because you can't run a tax amnesty every year yeah every January every January just wait till live you know I wait for the amnesty in 20 years and then I'll then I'll come clean so you only could do it every so often you can't do it every year you know usually you'll see you know some of them will have different types of fantasy but you know around ten years or so they kind of like oh yeah the amnesty thing let's let's do that so those are sort of how the state tax amnesty works we just had an Indiana one that that wrapped up and then there was another one that there was another one that was going on - I think maybe Louisiana so you know I don't know what who's gonna which states are gonna do it in 2022 I'm sure that there are some so people think about that you know the federal tax amnesty in the same way well here's the difference okay if you want to get a break on your federal taxes okay it's not that hey will they give me a break if I pay it on full no because here's the thing they don't need your money first of all so you don't have the leverage.

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