Obama wins - How will that impact your IRS Problems |
Darrin Mish: Barak Obama has been elected president of the United States. He won't actually take office until January of 2009. I wanted to make this video to talk to you about some of the changes that might occur early in his presidency about IRS problems, and how the IRS actually collects money from delinquent tax payers. Although president elect Obama's campaign promise was that, actually there would be a tax cut for over 95 percent of Americans making 250, 000 dollars or less, that's not what we're talking about here. What we're actually talking about here is what the IRS is likely to do about increasing collections, particularly in the case of an uncertain economy and a rising deficit. In my opinion the federal government is very likely to go on a hiring rampage. They're actually done this in the area of border control and the transportation, safety administration. We've all seen all those people in the airport wearing those white shirts... Well, it's very likely the IRS is going to increase their hiring dramatically, conserving the fact the statistics show that for every dollar paid to an IRS employee, that employee counts for roughly 50 dollars in collections. So I think it's very likely that the IRS, will dramatically increase their work force and their ability to collect delinquent taxes. It's hard to predict the difference between Republican administrations and Democratic administrations as far as how they're going to handle delinquent tax payers. But I've been through several of these administration changes, these power changes through the course of my career, and I have a theory that goes something like this: Republicans tend to lower taxes for all of us but they do their utmost to collect every single dime of that revenue. So, you're not going to get a lot of consideration, or you're not going to have a lot of sympathy coming out of IRS employees during a Republican administration. On the other hand, my theory about Democrats, they have a tendency to raise taxes for everyone since social programs and the good of society is actually at their best interest and I'm not making any characterizations or judgments about that but Democrats tend to stand for bigger government and higher revenue and taxes. But then they tend to do a little bit less in in the form of collecting those taxes. I actually think what we're going to be facing here is a paradigm shift. It going to be a real change. What we're going to have here is a president who believes in government, who believes in spreading the wealth around, but he's also going to do a whole lot more to collect that wealth than any recent president has done. What does the president have to do with the question of taxes? Well, they actually appoint the secretary of the treasury to their cabinet and the head of the IRS. So, it's very likely under an Obama administration that collections will continue to increase as we've seen in the Bush administration and that the problem of owing taxes is going to become one that is harder and harder to deal with on the tax payer level. If you'd like some more information about me, My name's Darrin Mesh by the way. I never did introduce myself or my firm, you can get more information at my web site which is found at getirshelp.com or you can feel free to give us a call toll free at 888 4386474. That's 888getmesh. Thanks for turning in. Appreciate it. |