Federal Tax Agents

[TheOriginalCane]

Yeah. Go ahead and tell the IRS you didn't pay your taxes because you didn't know it was illegal to not pay your taxes. See how that turns out for you.

Nobody escapes this provision on the basis of "ignorance":


26 U.S. Code § 61.Gross income defined

• U.S. Code
• Notes
• Authorities (CFR)

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(a) General definition - Except as otherwise provided in this subtitle, gross income means all income from whatever source derived

 

[1mg of Epi]

You ignorant buffoon, I'm a tax attorney. So, yeah, I have actual knowledge of this subject. And unlike you, I am not just throwing **** against a wall.

Oops!!!

I thought u were an earlier poster. My bad.

Ok so I’m glad you’re here... so then the gov wouid bring a case against someone like this? Someone whose never really had an income? And w no exposure to tax law?

 

[Drewny1]

Prove it.

Prove that someone whose lived on welfare their entire lives knows that taxes must be paid on a gift.

COME ON!!!!!!

Either way ignorance of the Law is not a defense.

 

[Cookie917]

Everyone has "general knowledge" of the IRS.

Well not only that, people are confusing apples to oranges. In some cases do you need actual knowledge or actual intent? Yes. fraud is one of those examples, you have to have the intent. This is opposed to say negligence, in which everyone admits it was unintentional, and likely an accident, but nonetheless you still f'd up and are liable. It all depends on what the actual cause of action a person is being charged with.

 

[mirvin88]

Oops!!!

I thought u were an earlier poster. My bad.

Ok so I’m glad you’re here... so then the gov wouid bring a case against someone like this? Someone whose never really had an income?
[/QUOTE]

Bruh...

 

[TheOriginalCane]

Oops!!!

I thought u were an earlier poster. My bad.

Ok so I’m glad you’re here... so then the gov wouid bring a case against someone like this? Someone whose never really had an income?

Yes, and I'm sorry if I overreacted, I'm just trying to provide factual information.

Here's the deal. Too many people are focusing on the "tax" part. People need to focus on the INCOME part.

NOT reporting income is a crime (obviously depending on how much, etc. as to how it would be prosecuted).

Technically, you don't know how much tax you owe until you REPORT all your income.

Thus, it is not that someone filled out a tax form and put down $1,000 of tax due instead of $2,000 of tax due.

Someone INTENTIONALLY omitted income that they **** well know that they received.

That's the crime.

 

[mirvin88]

Well not only that, people are confusing apples to oranges. In some cases do you need actual knowledge or actual intent? Yes. fraud is one of those examples, you have to have the intent. This is opposed to say negligence, in which everyone admits it was unintentional, and likely an accident, but nonetheless you still f'd up and are liable. It all depends on what the actual cause of action a person is being charged with.

I know...just highlighting that even his snipit disproves his theory on how this could go down.

 

[Drewny1]

Im sorry but you will have a hard time convincing Federal Prosecutor and a Federal Jury that you didnt know receiving 10s of 1000s dollars, living in a house you arent paying for and driving in a car thats not in your name that you didnt know it was a gift because you are poor?

Also not everyone collecting bags, free housing, and free cars is on welfare. That is a stupid stereotype.

 

[1mg of Epi]

Yes, and I'm sorry if I overreacted, I'm just trying to provide factual information.

Here's the deal. Too many people are focusing on the "tax" part. People need to focus on the INCOME part.

NOT reporting income is a crime (obviously depending on how much, etc. as to how it would be prosecuted).

Technically, you don't know how much tax you owe until you REPORT all your income.

Thus, it is not that someone filled out a tax form and put down $1,000 of tax due instead of $2,000 of tax due.

Someone INTENTIONALLY omitted income that they **** well know that they received.

That's the crime.

No worries. I totally get how frustrating it is when someone who obviously knows nothing argues about a field u work in.

Thanks for the clarity! And then next time the IRS comes-a-knockin, I know who to call!!

 

[TheOriginalCane]

Prove it.

Prove that someone whose lived on welfare their entire lives knows that taxes must be paid on a gift.

There is a difference between a gift and a quid pro quo (i.e., someone is paying the family so that the kid will sign with the school).

If someone is in doubt about whether to report $50,000 of cash on an income tax return, that's why you should consult with a tax advisor. Regardless of whether that someone has "lived on welfare for his/her entire life".

The annual gift exclusion is much lower than $50K anyhow.

 

[1mg of Epi]

Im sorry but you will have a hard time convincing Federal Prosecutor and a Federal Jury that you didnt know receiving 10s of 1000s dollars, living in a house you arent paying for and driving in a car thats not in your name that you didnt know it was a gift because you are poor?

Also not everyone collecting bags, free housing, and free cars is on welfare. That is a stupid stereotype.

Cmon man I wasn’t talking about the 2 or 3 kids a year who get that kinda bag dropped, but the hundreds of others who get a couple G over time.

Obviously someone gets a whole new lifestyle, that’s a different animal.

Maybe I should’ve been more clear!

 

[Mikep]

Is there any chance that some of the recipients do report it on there taxes? Its not like the ncaa can come look at your tax return.

 

[canesproponent]

According to US Tax law, a "gift' is equal to $14,000.

These players and their families are receiving hundreds of thousands of dollars. The entire SEC, most Texas schools, all Oklahoma schools, most of the Big 10 and FSU are paying players. They have been doing this for close to 20 years.

The IRS and FBI will eventually investigate. Football is 10x worse than college basketball.

 

[TheOriginalCane]

Cmon man I wasn’t talking about the 2 or 3 kids a year who get that kinda bag dropped, but the hundreds of others who get a couple G over time.

Obviously someone gets a whole new lifestyle, that’s a different animal.

Maybe I should’ve been more clear!

Everything depends on the circumstances.

Someone presses $50 into a kid's hand? MUCH more plausible to argue "gift", though it is "extra benefits" in NCAA terms.

Someone arranges $50K for a kid to sign? FIRST question the IRS asks is whether you received the money. SECOND question the IRS asks is WHY. Nobody is going to get by with "some guy who I never met before is just giving me $50K for nothing". The IRS will usually get the quid pro quo established pretty quickly.

And, for the record, this is what the IRS and FBI are going after right now (and it's not just 2-3 kids per year). Across all sports, there are probably hundreds of kids who have received $10K or more to sign.

 

[TheOriginalCane]

According to US Tax law, a "gift' is equal to $14,000.

These players and their families are receiving hundreds of thousands of dollars. The entire SEC, most Texas schools, all Oklahoma schools, most of the Big 10 and FSU are paying players. They have been doing this for close to 20 years.

The IRS and FBI will eventually investigate. Football is 10x worse than college basketball.

Technically, you can give a gift for any amount, you just have to file a gift tax return. $14K is the "exemption" amount. If I give you a gift of $10K, I don't have to file a gift tax return. If I give you a gift of $20K, I do have to file.

 

[simplycanes]

I cannot believe you guys are running with this.
Yeah, a close confidant with a line into a federal agency leaked this investigation to the OP, who in turn, posts it on a public internet message board where the very people being investigated frequent. Seems legit.

 

[SWFLHurricane]

Technically, you can give a gift for any amount, you just have to file a gift tax return. $14K is the "exemption" amount. If I give you a gift of $10K, I don't have to file a gift tax return. If I give you a gift of $20K, I do have to file.

Thats 100% Fact....This I know from many personal experiences...

 

[NC_Canes_11]

Its such a Farce that Republicans and the Executive Branch are doing whatever they can to not release the full report.

Stop watching Fox News Bruh

Lmao stop watching CNN man the full report is available online. And the Democrats also have access to 99% of the full document with some of the redactions not available to the public unveiled

 

[Drewny1]

Lmao stop watching CNN man the full report is available online. And the Democrats also have access to 99% of the full document with some of the redactions not available to the public unveiled

Link

 

[1mg of Epi]

Technically, you can give a gift for any amount, you just have to file a gift tax return. $14K is the "exemption" amount. If I give you a gift of $10K, I don't have to file a gift tax return. If I give you a gift of $20K, I do have to file.

Can a gift tax return be filed late, after a tax return?