Don’t forget to read up on the wash-sale rule under IRS §1091. We regarded but we ain’t screwing with the tax man

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Imagine filing your taxes, listing your BYND or OPEN losses, and the whole IRS office bursts out laughing

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IRS can’t touch your 401k or IRA. I will never own a home or business. So why not just pay no income tax ever and divert that extra income into your retirement accounts? Worst case scenario they decide to come after you and you offer them and offer in compromise for 20% of the liability. Not seeing the downside here.

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How much does the IRS pay for tips again

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Congrats man, the IRS just became your biggest bagholder

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Worst part is the IRS will come to collect the tax on the 7.2M Godspeed brother

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A scarier one, he's gonna be IRS agent...

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Crazy that the guy who ruined Fiserv is in-charge of our Social Security: 😂😂😂 >[https://www.marketwatch.com/story/fiservs-former-ceo-left-the-fintech-company-in-crisis-trump-put-him-in-charge-of-social-security-d2109ef8](https://www.marketwatch.com/story/fiservs-former-ceo-left-the-fintech-company-in-crisis-trump-put-him-in-charge-of-social-security-d2109ef8) >**Fiserv’s former CEO left the fintech company in crisis. Trump put him in charge of Social Security.** >Social Security Commissioner Frank Bisignano sold his Fiserv shares for at least $500 million. The stock fell 44% on Wednesday. Bisignano was the CEO of Fiserv for five years, from 2020 to this year. >Before leaving the company in May to join the administration, as recently as February, Bisignano was bragging to Wall Street investors about the company’s stellar performance and its great outlook. The stock price back then was $230. Now? $70.60. >He didn’t just get out of Fiserv before the collapse. He also sold all of his stock before the price plunged. And he was able to use a government loophole that has allowed him to avoid capital-gains tax on those stock sales, potentially forever. >Lucky? Smart? You make the call. >Joining the administration legally required (or, a cynic might say, *enabled*) Bisignano — seconded just this month to a newly created CEO post at the IRS — to dump all of his stock quickly to comply with ethics rules and without alarming the Street. >Ordinarily when you sell stock for millions, let alone hundreds of millions, you are expected to pay capital-gains tax on the profits at a rate of up to 20% for long-term holdings (with short-term holdings taxed at ordinary marginal income-tax rates). A $500 million sale of long-term holdings would result in a tax bill of up to $100 million, depending on how much you paid for the stock in the first place. >But under a law signed by the first President George Bush, executives who join an administration and who are required to sell their stock to avoid conflicts of interest get a freebie. They can sell their stock and defer capital-gains tax, potentially forever, so long as they use the proceeds to invest in a diversified portfolio or buy Treasury securities. He also used a tax loophole to save taxes on sale of $500 million of stock + $70 million of unvested stock units by joining the Trump administration because when you join the administration and have to sell stock to avoid conflict of interest, you don't have to pay taxes. Very clever guy!

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I'm gonna dress up as a tax form for halloween The only thing scarier than monsters are the IRS

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Only going to get worse. Next year they enact the $600 maximum sales before you get a 1099. This forces people to report income to irs which then gets taxed and forces people to pay or figure out income taxes come 2027

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