Word: taxed
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Dates: during 1980-1989
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Anyone who shortchanges Uncle Sam at tax time can expect that, with virtually the same certainty as death, a dunning notice will follow. But when someone overpays the IRS, the reaction is sometimes silence. Thanks to Linda Johnson, an IRS examiner in Memphis, that will soon change. She complained to her Senator, Democrat Albert Gore, that when taxpayers in certain categories failed to subtract already withheld sums in calculating what they owe the Treasury, the IRS simply pocketed their surplus payment without telling them. Urging superiors to change the rules so these people will get refunds, she argued...
...Window of Opportunity, a book on the "American future" that the Georgian co-authored in 1984 with his wife Marianne and a science fiction writer, David Drake. Though the book sold only 12,000 hard-cover copies and failed to make a profit for its publisher, the investors reaped tax benefits for their contributions. They also paid Marianne Gingrich nearly $10,000 for her efforts. Gingrich admitted last week that his book deal was "as weird as Wright's." But unlike the Speaker, said Gingrich, "we wrote a real book for a real company that was sold in real bookstores...
...been implicated in such crimes as attempted murder, break-ins, public drunkenness, disturbing the peace, battery and drug abuse. Coaches, too, can get into trouble when they lose their perspective on the game. Ex- Memphis State basketball coach Dana Kirk was sentenced to a year in prison for income-tax evasion. A former University of Kentucky assistant coach is under investigation for reportedly sending $1,000 through the mail to the father of a recruited player...
...imposing a hiring freeze and cutbacks on travel and office and computer equipment, the agency has closed the gap to $50 million. But as peak season approaches, officials are concerned that the tax-collection system might overheat from the heavy workload. The agency admits that 1 out of every 3 callers to the tax-information hot line is given a wrong answer, and some employees have doubled up on their responsibilities. The IRS says the processing of returns will probably not be affected, although some cheats could slip by undetected...
This is true, but misleading. That "larger share" is smaller in actual dollars. Revenues from corporate income taxes and income taxes from the top brackets actually declined in real terms from 1980-1987. This represents a larger proportion only because total revenues fell so dramatically after the fiscally irresponsible 1981 tax...