s0me0nesmind1
Lifer
- Nov 8, 2012
- 20,828
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this is so true...
If you get a Tax Attorney shit gets done so much faster then having to handle it yourself.
But of course a Tax Attorney will charge you which a lot of the lower income people just can't afford, as no one would really spend 15-20k retainer for a 15-20k audit, and rarely will a tax attorney want to handle a case which won't be worth his/her time.
But i have been on both ends... one solo, and the other though an attorney, and well, i've learned if the figure is low, its just best off paying the penalty and saying forget it, as the time and stress lost during the whole processes can sometimes just not be worth it.
I don't understand why this is news to anyone?
This is government regulation 101. When you have the government come in and strictly regulate something - it increases the overall costs of that particular item.
Thus - lower income are "priced out" of that field. They don't have the means or capital to have a fully functional ERP system to document all their transactions to the granular level that the IRS and states demand. Nor as you said - the proper tax accountants and tax lawyers. Why is that you ask? It's because the bottleneck of complexities. The laws and rules are literally books upon books upon books. Who can upkeep with that? Big business. That's why big business loves that degree of regulation to stifle innovative small business. The same can be said for a variety of different industries in a variety of different fields.
This is why you will never see a new kick-starter in hospitals for example - the regulation is simply too high. It will never happen. The only thing you will ever see is new constructions via investment from already-established hospitals - or previous ones acquired by the big ones.