Quote:
Originally Posted by fatlazyless
Something you do learn at Walmart ...... to Make America Great Again ..... all the people need to step up to the plate ..... and pay their taxes!
To avoid paying taxes is totally legal,
To evade paying taxes is totally not legal.
So, is prepaying your local property tax a design to avoid, or a design to evade ..... a very big question ..... and one that is unresolved for now .....until it gets the attention of the Internal Revenue Service.
... the www.irs.gov ..... Making America Great Again! |
The most common means of tax avoidance is accomplished by claiming all your permissible deductions and credits. This is not illegal.
Now if the new law explicitly said you cannot pre-pay your property tax I would agree that would be illegal and could be classified as
evasion. However in the absence of that language pre-payment for the purposes of
avoidance is perfectly fine in theory. Of course one should check with their tax preparer!
In an interesting turn of events....
New York State will allow residents to pre-pay 2018 property taxes in 2017, in order to take advantage of a bigger deduction before new federal tax laws go into effect, Gov. Andrew Cuomo announced Friday.
In a news conference, Cuomo told reporters he was trying to find ways to help cushion the blow of the tax law, which he said “disproportionately hurts New York State, more than any state in the nation.”
I am stunned that a elected official, in particular a democrat who has railed in the past over not paying one's "fair share" is now purposely maneuvering state law by executive order no less to create a tax loophole for people to take advantage of. How many people will starve or better yet DIE because of this?