Every time I look at my paystub, I want to vomit at the sight of how much money is taken out in taxes. Every time I pay an installment loan on my tax debt, I want to gauge my eyes out because I know the second I miss a payment, here comes the IRS threatening to garnish my wages.
None of my friends are millionaires, let alone thousandaires. But plenty of them are struggling with tax debt. Tax debt that can’t be prayed away. Tax debt that the IRS won’t bargain over with an offer in compromise. Tax debt that will probably follow them to their graves.
Unfortunately, none of us are Donald Trump.
The impeached president of the U.S. probably shouldn’t have been allowed to even run for president if his tax information was readily available. But as the recent New York Times article pointed out, Trump is swimming in tax debt and potential fraud. Yet here we are, with the last presidential term possibly being handed to someone who shouldn’t have been made president to begin with.
The current pandemic (not the presidency, the coronavirus) has left hundreds of thousands of Americans unemployed, which will more than likely equate to the average person not being able to afford to pay their taxes, if they owe some next year.
But what does the IRS plan on doing about that? Navigating IRS issues isn’t always easy, and it can be costly to hire someone to do it for you. This can easily be a no-win situation.
Maybe we should all take a page out of Trump’s playbook, and say to hell with taxes and just run for president. Because that seems to be the only way the IRS will work with you.