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Keeping the IRS busy.

 
The Old Timer
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08/29/2022 07:41 PM
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Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


PBDRINK

Last Edited by The Old Timer on 08/29/2022 07:47 PM
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
Anonymous Coward
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08/29/2022 07:43 PM
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Re: Keeping the IRS busy.
Better idea take it out of the college’s endowment and consider it income.
Justsayno

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08/29/2022 07:44 PM
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Re: Keeping the IRS busy.
How about they go look for the trillions the Pentagon has “misplaced”
Malu
Anonymous Coward
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08/29/2022 07:44 PM
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Re: Keeping the IRS busy.
Maybe you’re drunk but why would they give the money to the college? The college already got the money.
Anonymous Coward
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08/29/2022 07:46 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
The Old Timer  (OP)

User ID: 44147937
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08/29/2022 07:46 PM
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Re: Keeping the IRS busy.
Maybe you’re drunk but why would they give the money to the college? The college already got the money.
 Quoting: Anonymous Coward 81029938


YUP YUP...I meant the banks!!! I will correct....thanks
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
Anonymous Coward
User ID: 81029938
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08/29/2022 07:47 PM
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Re: Keeping the IRS busy.
Here’s how to pay for it. Make the college pay for providing a worthless education

[link to nces.ed.gov (secure)]

There’s over 600 billion sitting in endowments.

Make them pay! Make them pay! Make them pay!
ChugALugging

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08/29/2022 07:47 PM

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Re: Keeping the IRS busy.
Irs needs to abolished... I think, and always thought, if any president ran on that, he would win 70 percent of the country...

You'll see people that never seen before voting...

It' would be 120 million to 40 million the other...

The 40 million dead people of course...

Never ever in my entire life, ever met 1..individual that liked the.. IRS... NOT 1...
Romans 14:11 It is written:
“‘As surely as I live,’ says the Lord,
‘every knee will bow before me;
every tongue will acknowledge God.

Revelation 20:15 Anyone whose name was not found written in the book of life was thrown into the lake of fire.
Anonymous Coward
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08/29/2022 07:48 PM
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Re: Keeping the IRS busy.
The sad thing is, this just creates more borrowing capacity so more students can get a bunch of loans and get in debt.

That's what they aren't telling you. These bailouts are always for the banks.
Florida Man

User ID: 84068048
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08/29/2022 07:49 PM
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Re: Keeping the IRS busy.
Maybe you’re drunk but why would they give the money to the college? The college already got the money.
 Quoting: Anonymous Coward 81029938


YUP YUP...I meant the banks!!! I will correct....thanks
 Quoting: The Old Timer


Banks were kicked out of that business many years ago.
1. “You can’t fire a cannon, from a canoe!”
2. “Strength is gained in the range it is trained.”
3. “If it doesn’t swim, run, or fly, or isn’t green and grow in the ground, don’t eat it.”
4. “Know that you have complete control over what you put in your mouth. No one ever ate anything by accident.”
Anonymous Coward
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08/29/2022 07:50 PM
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Re: Keeping the IRS busy.
Loan forgiveness is absolutely income. And your average deadbeat student who takes advantage of this has no idea.

Econ 101: There is no such thing as a free lunch
ondrunn

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08/29/2022 07:51 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


If they don't repay a loan....?

they don't pay taxes

And vote democratic
The Old Timer  (OP)

User ID: 44147937
United States
08/29/2022 07:55 PM
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Re: Keeping the IRS busy.
Irs needs to abolished... I think, and always thought, if any president ran on that, he would win 70 percent of the country...

You'll see people that never seen before voting...

It' would be 120 million to 40 million the other...

The 40 million dead people of course...

Never ever in my entire life, ever met 1..individual that liked the.. IRS... NOT 1...
 Quoting: ChugALugging


hesright
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
Anonymous Coward
User ID: 80992307
United States
08/29/2022 07:58 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


If they don't repay a loan....?

they don't pay taxes

And vote democratic
 Quoting: ondrunn


Correct, if you short sell a home, the bank forgive some of the loan, and the irs taxes you for the amount forgiven, same situation, student loan forgiven is taxable.
Anonymous Coward
User ID: 80159462
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08/29/2022 08:06 PM
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Re: Keeping the IRS busy.
The IRS code is so convoluted and complicated, they could make everyone who files a 'tax cheat'.
Biden's Bidet
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08/29/2022 08:06 PM
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Re: Keeping the IRS busy.
crap, $300 billion would be enough for another criminal war on behalf of the perverted cultists. Not sure exactly how many children you can vapourise, blow to bits, burn alive, run over with tanks, or gun down for that much, though. Pick a country, any country that has something the bankers and cultists want.
StuckInNY

User ID: 81083193
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08/29/2022 08:17 PM
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Re: Keeping the IRS busy.
I have a better way to keep them busy.

Send the new agents out to every big box home improvement store, to the parking lots, where the day labor guys hang out. Let the new IRS guys collect tax on all the unreported cash transactions that takes place there.
Anonymous Coward
User ID: 63885550
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08/29/2022 08:21 PM
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Re: Keeping the IRS busy.
Irs needs to abolished... I think, and always thought, if any president ran on that, he would win 70 percent of the country...

You'll see people that never seen before voting...

It' would be 120 million to 40 million the other...

The 40 million dead people of course...

Never ever in my entire life, ever met 1..individual that liked the.. IRS... NOT 1...
 Quoting: ChugALugging


Once created, like any other organism, all government agencies’ prime directive is to preserve its own existence at any cost. Secondary objective is to score more tax funding than competing agencies.
Anonymous Coward
User ID: 75524480
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08/29/2022 08:22 PM
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Re: Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


:PBDRINK:
 Quoting: The Old Timer


IM THINNKIN BOUT BECOMING THE WORST ONE OF THEM...AND IMMUH BE
ALL BLACK AN FEMALE TOO...IMMUH B TRANZ! IMMUH B UH BLACK "B"!
A Jackson

User ID: 81528177
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08/29/2022 08:33 PM

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Re: Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


PBDRINK
 Quoting: The Old Timer


Good thought. Can I have some whisky?

grinning Pleeeeeeease
Smoke me a kipper, I’ll be back for breakfast.

If you do not take an interest in the affairs of your government, then you are doomed to live under the rule of fools. — Plato

“AI is kind of a fancy thing, first of all it’s two letters. It means artificial intelligence.” Kamala Harris VPOTUS
Idaho Potato

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08/29/2022 08:43 PM
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Re: Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


PBDRINK
 Quoting: The Old Timer


IRS is not taxing the loan
Idaho Potato, it's what's for dinner
Phillip J. Fry

User ID: 83765367
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08/29/2022 09:00 PM
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Re: Keeping the IRS busy.
How about they go look for the trillions the Pentagon has “misplaced”
 Quoting: Justsayno


Which time?
.

"Don't do anything that affects anything. Unless it turns out you were supposed to do it, in which case for the love of God. Don't not do it!"
Anonymous Coward
User ID: 79658747
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08/29/2022 09:03 PM
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Re: Keeping the IRS busy.
when they move to take over all IRAs and 401Ks when Soc. Secu. and Medicare go bakrupt they will need these agents.
1776 2.0

User ID: 80955868
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08/29/2022 09:06 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


This ^^.. I paid a debt off recently and will be receiving a 1099 for the writen off debt and will be paying taxes on it.

Last Edited by 1776 2.0 on 08/29/2022 09:06 PM
SovereignProtector
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08/29/2022 09:10 PM
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Re: Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


:PBDRINK:
 Quoting: The Old Timer


hmm
Anonymous Coward
User ID: 80788445
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08/29/2022 09:13 PM
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Re: Keeping the IRS busy.
Um… the IRS doesn’t decide what’s income and what’s not. The White House already said they will not get a 1099.

OP is not educated enough for further comment.
Anonymous Coward
User ID: 80788445
United States
08/29/2022 09:14 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


This ^^.. I paid a debt off recently and will be receiving a 1099 for the writen off debt and will be paying taxes on it.
 Quoting: 1776 2.0


It’s not they said it won’t be taxed. Did you pay taxes on your stimulus checks tard? NO because they said it would not count as income..
The Old Timer  (OP)

User ID: 44147937
United States
08/29/2022 09:14 PM
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Re: Keeping the IRS busy.
OK...I'm just stoned from my whisky but....BUT, what if you give all those people the 10 or 20 thousand in debt forgiveness directly to the banks/loan institutions....and the IRS considers loan forgiveness income....and what if they get a bill for the taxes due after the direct government payment....might give 87,000 IRS agents something to do! Just thinking. Would this not add fuel to a raging fire?


PBDRINK
 Quoting: The Old Timer


IRS is not taxing the loan
 Quoting: Idaho Potato


I know 12 states that feel the same way.....free money is income.
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
The Old Timer  (OP)

User ID: 44147937
United States
08/29/2022 09:17 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


This ^^.. I paid a debt off recently and will be receiving a 1099 for the writen off debt and will be paying taxes on it.
 Quoting: 1776 2.0


It’s not they said it won’t be taxed. Did you pay taxes on your stimulus checks tard? NO because they said it would not count as income..
 Quoting: Anonymous Coward 80788445


No dip shit...I live on SS and I live below the poverty level....it isn't taxed for me anyway you want to twist it!
Now 20k would put me over the poverty level but under the 125K mark

fact
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
Anonymous Coward
User ID: 84086586
United States
08/29/2022 09:17 PM
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Re: Keeping the IRS busy.
It is 100% taxable.

It's no gift.
 Quoting: Anonymous Coward 80992307


This ^^.. I paid a debt off recently and will be receiving a 1099 for the writen off debt and will be paying taxes on it.
 Quoting: 1776 2.0


Yes. It’s called cancellation of debt and may or not be taxable.
Anonymous Coward
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08/29/2022 09:17 PM
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Re: Keeping the IRS busy.
Same sort of Grift as the Mortgage scams a decade ago.

The Banks win double / triple their money, with tax right-offs and other loop-holes.

The burden of the debt will be shifted from one sucker/stooge to the next sucker/stooge...

If J-Dollars are involved it is corrupt from its inception...





GLP