{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Hidden Money Podcast","title":"The IRS Doesn't Care about Fair","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/c9b8edd3\"></iframe>","width":"100%","height":180,"duration":1627,"description":"On this week's episode: two people can have the exact same income and still land tens or hundreds of thousands of dollars apart at tax time — and the IRS will never tell you why.\nFour things we unpack this week:\nTwo employees with identical stock option packages can land 31 points apart on their effective tax rate. One paid under 1%. The other paid over 32%. Same income, same year, same opportunity.\nSell \"non-covered\" stock without documenting what you originally paid for it, and the IRS doesn't ask — it assumes your basis is zero and bills you as if the entire sale was pure profit.\nFall behind on filing for a few years, and the IRS assumes you had zero deductions and a 100% profit margin on every dollar reported to them — even after 50 years of clean returns.\nAn $80,000 vacation, taken past your tax-plan deadline, can quietly become a $600,000 line item once you count what the delay actually cost.\nChapters\n[00:00] Introduction — Why two neighbors with the same income pay wildly different tax\n[00:01] The IRS default: guilty until you prove yourself innocent\n[00:04] Same income, same options, two Nvidia employees — one pays under 1%, one pays 32%\n[00:08] Why the IRS actually helped fund Mike and Kevin's own commercial property purchase\n[00:12] The $600,000 vacation — what it really costs to skip your tax plan\n[00:15] Covered vs. non-covered stock transactions — why the IRS assumes your basis is zero\n[00:17] The dementia case — five years of unfiled 1099s and the IRS's worst-case-by-default rule\n[00:20] Why the IRS \"works for us,\" and what that means when you push back\n[00:23] Take control: don't let the IRS write your story for you\n[00:24] Revo is hiring\nGet in touch: https://www.revotaxpayer.com/?utm_source=revo-taxpayer&utm_medium=podcast&utm_campaign=s4e26-the-irs-doesnt-care-about-fair&utm_content=show-notes#contact-1\n\nConnect with us:\n• Website: revotaxpayer.com\n• Facebook: @revotaxpayer\n• Instagram: @revotaxpayer\n• LinkedIn: @revo-taxpayer-advocacy\n•...","thumbnail_url":"https://img.transistorcdn.com/TWKM7KKxCr6iSu58Xm-mKHEFQSwIhIxv042pNBRkyGw/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mMTJi/MjljMDYzOGNkYzM4/ODQ1MzkwYmE0YmYw/NjllNS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}