Quote:
|
Originally Posted by PANICPASS
But there were no taxable events. That is what shows on the tax return. The withholdings are exactly that, withholdings. They are withheld. They are not a taxable event.
A taxable event occurs at the time digits are subtracted from your pay via a W-4. The digits withheld are taxable because you signed a tax form (W-4) authorizing the event of withholding. No 1040 is required if there is no taxable event.
You keep saying that and that is incorrect. The taxable events were the cashing for private credit.
And you keep saying that and that is incorrect. The taxable event occurs at the time the tax is authorized to be withheld (W-4). If you anticipate no taxable event, then no taxes (digits) are required to be withheld.
|
You may be right - however that defeats the purpose of calling it withholdings. The Readers can decide for themselves. I hold that the withholdings are set aside in anticipation of taxable events as declared on the 1040 Form.
You are correct that there are no taxable events with non-negotiable FRNs and that the 1040 Form is no longer necessary. It is however required if you want to get the Withholdings Refunded.
Of course if you are correct and the Withholdings are themselves taxable then a percentage will be taken in as tax paid and the remainder will be Refunded. Since I have explained myself clearly though, I believe you are just making a nonsense argument for the sake of argument. - For the sake of boring the Readers off the point that they can exercise their right to public money according to the article.
So above the signature line on the W4 Form place your stamp. A suitor showed me one the other day. They can be made up small enough to fit on about any signature line. I feel it is unnecessary but then try convincing your corporate employer you have a right to public money?
Regards,
David Merrill.