In an effort to meet President Donald Trump’s demand to reduce the regulatory burden, the Internal Revenue Service (IRS) announced on Tuesday that it intends to eliminate 298 tax regulations it has deemed unnecessary.
The action by the IRS follows a pair of executive orders issued by Trump last year. One directed each government agency to conduct a review of existing regulations, while another instructed the IRS to simplify the tax code through deregulation. Some of the laws identified for removal have been outdated for decades. By eliminating these rules, the agency says it can both reduce the number of regulations taxpayers need to review and improve the “clarity” of the new tax law.
According to a recent study by global financial services technology firm Koger, 56% of executives at hedge funds and private equity firms believe regulatory enforcement has decreased under the new administration. Eighty-five percent of respondents viewed the current U.S. regulatory environment as laxer than that of the country’s international counterparts. Fewer regulations boost liberty and make making a living much more simple.
The Trump administration has made good on their promise to remove burdensome and unnecessary regulations meant to stifle businesses, individuals, and economic growth. Hopefully, they will continue cutting regulations until the government is nothing like what it was in 2015.
The bigger question, though, is: is the IRS as an agency necessary? The simple answer: no. If we truly lived in the “land of the free,” as politicians who are vastly more wealthy than the average American tell us we do, we wouldn’t be forced under the thumb of the IRS’s tyranny anyway. And it is possible to eliminate the IRS.
The Fair Tax Act (H.R. 25) was introduced by Congressman Rob Woodall (R-GA). It would abolish the IRS, mainly on the premise that the agency would no longer be needed after restructuring the nation’s tax system as described in the bill. It would eliminate the income tax and replace it with a national sales tax based on consumption rather than income. The bill seems to have generally been unreported because it is introduced in each Congress by Woodall, becoming a tradition of sorts. It has never advanced before and is unlikely to do so this time. –Fedsmith
Abolish the IRS. A lot of Americans problems would be solved immediately.
Good ya know we had a revolution once cus of taxes. Just puttin it out there so ya smellin what im sellin? Picking up what im putting down? Feelin me? Wonder if 1.5 trillion bucks will get the pot holes filled??? Im thinking they should just give everyone 40 acres and a mule id be happy with that but instead im gonna get new waterlines through town so im sure to get clean pure water full of chlorine and floride .. Will that make my false teeth strong? Havent gotten any cavities on them so far so the floride must be working..
I would like to see hillbeast and obamanation tied to the same stake and burned to death. That is my only request.
actually, you will most likely get the streets in your town paved…..it’s not important to a politician that the street was just paved last WEEK.
The IRS is an organized crime racketeering gang, with an annual shakedown, by a set of Thugs operating at the point of a gun, to steal all of your property, if you refuse their extortion, for refusing to hand over all of your working profits. The IRS is no different than a school yard bully stealing your bus and lunch money every day, so they can squander it down their big black bottomless hole of fraud.
Ever call the IRS and the message they give you, is if you agree with the amount you owe Press one. I never press 1, its extortion.
Give us The Fair Tax and it will eliminate waste and fraud. And even more importantly it will Shut Down the IRS.
The IRS will still be needed to collect it, along with such things as unemployment, Medicare and Medicaid, and miscellaneous other Federal taxes on both individuals and businesses.
Give me a BREAK!!! How can people like you even claim to believe in LIBERTY???
The current Income Tax is an EXCISE. Go read Dave Champion’s Book entitled “Income Tax: Shattering the Myths”
Here’s a copy and paste of one of my posts from a few years ago on another site:
Income Tax is an INDIRECT TAX. The Supreme Court has made this point very clear in 1916 only 3 years after the 16th Amendment, commonly referred to as the Income Tax amendment, was ratified. The 16th Amendment confirms that the Income Tax can ONLY be imposed under the category of Indirect. The 16th amendment is a moot point in the scheme of things anyway. All it did was to confirm Congress’ taxing power by the US Supreme court concerning income tax as an indirect tax and nothing else!
Income Tax is an INDIRECT tax by it’s very nature. It is NOT a direct tax as others here have suggested. The 2 US Supreme Court Cases in 1916 settled that this very question are as follows:
BRUSHABER v. UNION PACIFIC R. CO., 240 U.S. 1 (1916)
AND
STANTON v. BALTIC MINING CO, 240 U.S. 103 (1916)
The Court said specifically in the Stanton case the following:
” it manifestly disregards the fact that by the previous ruling it was settled that the provisions of the 16th Amendment conferred no new power of taxation, but simply prohibited the previous complete and plenary power of income taxation possessed by Congress from the beginning from being taken out of the category of indirect taxation to which it inherently belonged, ” So here we can see, beyond ANY shadow of a doubt, that the court confirms that Congress can lay an income tax but ONLY as an indirect tax.
And as a side note, most tax professionals do NOT read the law to determine who is liable for the tax. Most tax professionals read IRS publications and just ASSUME anyone who makes money now owes an Income Tax. The most important aspects are glossed over like whom is subject to the tax, whom is liable for the tax (yes, it’s different than whom the subject is), under what circumstances domestic US source income becomes taxable. So the who what when where and why are for the most part discarded as important by practically anyone whom works in the tax industry.
IRS Publications tell the story a bit different than a tax “professional” would. IRS Publications are sort of like “New Letters” put out by the IRS to the tax industry, including mostly ALL CPA’s and Tax “Professionals”. The IRS has a manual available on their website which any one can go read. Here’s what THEIR OWN manual says about their own publications:
4.10.7.2.8 (01-01-2006)
IRS Publications
“IRS Publications explain the law in plain language for taxpayers and their advisors. They typically highlight changes in the law, provide examples illustrating Service positions, and include worksheets. Publications are nonbinding on the Service and do not necessarily cover all positions for a given issue. While a good source of general information, publications should not be cited to sustain a position.”
The IRS has plainly stated in their OWN manual that Publications are NOT to be cited to sustain positions about the LAW even though that is what all tax professionals do anyway. This is because IRS publications and pamphlets are NOT the law. The IRS has already vindicated themselves from people who WRONGLY use publications like law.
So hopefully this has gotten you on the proper path to actually understanding what the “Income Tax” actually is and especially what it ISN’T! And, this is just the tip of the Iceberg of the mis-understandings the general public have about Income Tax law. So next time somebody says it’s an direct tax, you can confidently re-correct them and confirm that it is, beyond a shadow of a doubt, an indirect tax.
How about the other 10,000,000,000,000,000,000 regulations?
To tax the income produced by a man’s labor is exactly part and parcel to why this nation began. It is raw, in your face, larceny by the government. To infringe upon private finance with the idea that the government is somehow better able to dictate or decide the way my earnings are spent than me? Ludicrous. I sweated, often bled, sometimes was literally broken making the money I have. I’m the one who got up before 5 a.m., worked til 11 p.m. and saved every penny I could for better equipment to be able to do better work and take on yet more. “F” the IRS. Abolish it ASAP.
I decided I am not going to pay taxes anymore.
I am going to claim to be an illegal immigrant from now on.
I bet the benefits of being a scum illegal-muslim refugee would garner lots of free stuff.
Menzo, the illegals, including the sand fleas, already get ‘free stuff’, courtesy of our tax money. All the illegals and muzzies need to go.
J Stiner is an illegal Squatter alien. Hates America and put the Squatter first. Go home punk.
That is great. I suppose our tax code went from 6,000,000 words all the way down 5,700,000 words. I feel so much better that the average person can now easily understand and comply with this system. In all honesty, our tax code could be fixed easily. However, the powers that be do not want it changed. It would be easy to eliminate the income tax and initiate a national sales tax. Things like food and clothing could be exempt to help the poor. Our government was completely funded by excise taxes prior to 1913. Weird, how a socialist central bank changed that. Amerikans are stupid.
We can’t even find a border to cross illegally to obtain”benefits” Whats wrong with that picture?
I’d love to see the irs done away with. They just screw with the working class. Rich people got asshole lawyers to get out of taxes and welfare rats don’t pay, so the hell with irs. I’ve had coworkers audited and it’s just ridiculous the bullshit they pull on folks.
The income tax was started by the same party that started slavery and still enslaves blacks.
I’m glad regulations are being eliminated, but these small measures may only help a few, it is really not much more than eye wash. Gov’t at all levels refuse to mitigate spending beyond their means, if a tax or fee is reduced in one area revenue must be obtained another way. State and local gov’t receive a lot of funds from the fed. gov’t for all kinds of programs, if the fed. gov’t no longer disburses the money to them it has been shown they still will not stop or reduce spending, they either have to issue their own bonds or raise taxes. In any case, after a few a fiscal years the taxpayers won’t realize more take home pay.
The national debt is over 20 trillion dollars; in a way it doesn’t matter if it is 20 or 200, we have already passed the ability to pay off the debt. It’s as if someone was trying to make a distinction of a person who makes 30 thousand dollars a year but owes someone a million dollars; what difference if it was a million or 10 million, either way it can’t be paid back.
The reason the debt will not and cannot ever be paid off is simple, money is loaned into existence from the Fed. Res. (which is a private central banking system) to the fed. gov’t, the gov’t takes the money but must in some way give the money plus interest back to the F/R. Therefore, to pay off the debt would literally absorb every dollar taking it out of existence. Then more would have to be created requiring more borrowing with interest. In effect, we are in a hole that cannot even be stabilized, it can only grow.
Take a look at your dollar bills, every single note regardless of denomination says Fed. Res. Note on it. Gov’t has unconstitutionally given control of the currency over to a private entity. Why would officialdom not only illegally give this right to a private group, but also incur an altogether unnecessary and totally avoidable debt burden on the gov’t and citizens. The icing on the cake was going off the gold standard, the dollar has lost 98% of its value. It is interesting to note when the F/R was created so was the IRS about the same time. Things are the way they are because someone or some people are profiting from it – who are these persons. The gov’t has not been allowed to audit the F/R in many decades. As long as the F/R exists the IRS will too, therefore don’t expect too much reform.
Bill…not sure that description of the creation of money is completely accurate…But you are indeed correct about the failure to repay our debt.
regardless of where the bills come from, the gov’t refuses to repay debt simply because they refuse to remain within their budget. they continually run in deficit and trump has approved deficit spending on par with chairman maobama levels. Disgusting at best.