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Quinn

@bigcatdevours.bsky.social

I'm in a half awake state and my nody can't decide if I'm hungry, thisty, or need to hydrate. Barely keeling eges ilen so irs definitelg sleep time

February 10, 2026 at 3:33 AM

Epstein Web

@epsteinweb.bsky.social

Part 1/2 — HOUSE_OVERSIGHT_029345.jpg
#epsteinweb #houseoversight029345

$20
18
16
14
12
10
6
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2
1_
Dec 27. '13
1. Valhi Inc
Feb 12, '14 Mar 28, '14
May13. '14 Jun 26, '1
Source: Bloomberg
Oh.6 The stock closed yesterday at $6.01, reducing the value of the estate's holdings by $2.8 billion -- and its
estate-tax liability by $1.1 billion -- since Simmons's death.
Is that good news or bad news for the estate? Well, the first law of tax is that it is always better to have more
money than less money.' It's not actually a good idea to lose $2.8 billion of money to save $1.1 billion in taxes.
Though the estate didn't exactly lose $2.8 billion of money. That tax liability is a cash expense: You've actually
got to write a check to the IRS for $1.9 billion (using the December valuation) or $765 million (using
yesterday's valuation), so the $1.1 billion you save is an actual cash savings. The $2.8 billion loss, on the other
hand, is a paper loss. Perhaps it's just temporary. If there were some reason to think that it didn't reflect only a
decline in the fundamental value of Valhi, you might not worry as much about that paper loss as you would
about the cash taxes.
So what's happened to Valhi? Well, it's not having a great year, with zero-ish net income last quarter. The board
reduced the dividend by 60 percent, to its lowest level since 2005. And the few people who follow the stock are
unimpressed. Bloomberg shows two analysts following Valhi, Barclays and EVA Dimensions. They both have
sell ratings, and Barclays has a price target of $5.00, saying in May that "from a SOTP analysis, we continue to
view VHI as trading above its intrinsic value." A Seeking Alpha piece from a few weeks ago is similarly
gloomy, with a $6 per share fair value.
All of this suggests that Simmons's estate owes less tax because it's really worth less than it was six months ago.
In fact, if you taxed Simmons's heirs now based on the value of Valhi six months ago, they'd have almost
nothing left of their stock.
But there's one more bit of

February 10, 2026 at 3:27 AM

Epstein Web

@epsteinweb.bsky.social

Part 2/2 — HOUSE_OVERSIGHT_029314.jpg
#epsteinweb #houseoversight029314

June 26, 2013,
m Taxpayers who filed protective refund powers, the consensus among at least some _as separate, unmarried individuals, however, i
claims prior to the Supreme Court’s deci-__ practitioners, is that IRS National Office may not need to change their filing status to
sion should be on the alert to any forth- — may —and more likely will— direct agents _ married filing joint if it would be less favor-
coming IRS guidelines that may facilitate to by-pass any filing-status issues unless the able to their overall tax liability. The IRS
the agency's processing of those claims. taxpayer requests a change. may issue guidance on this issue.
©). Wolters Kluwer
CCH
CCH Tax Briefing ©2013 CCH Incorporated. All Rights Reserved.
HOUSE_OVERSIGHT_029314

February 10, 2026 at 3:22 AM

Epstein Web

@epsteinweb.bsky.social

Part 3/3 — HOUSE_OVERSIGHT_029313.jpg
#epsteinweb #houseoversight029313

at least age cretion to accept or reject amended returns Oregon
62, unmarried and ineligible for an equal _has been recognized, courts have required Wisconsin
or greater benefit based on his or her own __ the IRS to accept amended returns where |
earnings or the earnings of someone else. _its rejection of them has been found to be
These benefits are now presumably available _ arbitrary and unjust. generally three years from the filing date or
to divorced individuals who were previously two years from the date taxes are paid, which-
in a same-sex marriage. The SSA is expected Limitations Period. The statute of limita- ever is later. This rule may generally apply for
to provide guidance. tions for amending or auditing a return is same-sex married couples as follows:
CCH Tax Briefing
HOUSE_OVERSIGHT_029313

February 10, 2026 at 3:22 AM

Epstein Web

@epsteinweb.bsky.social

Part 3/3 — HOUSE_OVERSIGHT_029311.jpg
#epsteinweb #houseoversight029311

opposite-sex domestic partners as _ ary reduction agreement between the employer
now presumably transfer assets between well as same-sex domestic partners. and the employee in which the employee agrees
themselves with no concern of lifetime gift to contribute a portion of his or her salary on
tax consequences. This creates consider- COMMENT. The federal governments a pre-tax basis to pay for the qualified benefits.
ably greater flexibility for estate planning. Office of Personnel Management defines Salary reduction contributions are not actually
The IRS is expected to issue guidance. domestic partner for purposes of federal or constructively received by the participant.
employee benefits as a committed relation- Therefore, those contributions are not consid-
COMMENT. Giffs to cover medical and ship between two adults, of the same sex. ered wages for federal income tax purposes. In
education expenses for an individual, if addition, those sums generally are not subject to
paid directly to the medical or education Tax Treatment. Domestic partners who are FICA and FUTA taxes. However, pre-tax dol-
provider, are gift tax free without limit not married under state law are not treated lars could not be used to pay for coverage of a
and are not counted against the annual as spouses for federal income tax purposes. _ same-sex spouse because of DOMA. This now
$14,000 exclusion for any individual. As a result, an employee must continue should change as a result of the Court's decision.
to pay taxes on the fair market value of
COMMENT. Where one spouse is not a the coverage for the employee’s domestic Health Flexible Spending Accounts. A
U.S. citizen, the annual exclusion from partner (whether the domestic partner is a _ health flexible spending arrangement (FSA)
CCH Tax Briefing
HOUSE_OVERSIGHT_029311

February 10, 2026 at 3:21 AM

Epstein Web

@epsteinweb.bsky.social

Part 2/3 — HOUSE_OVERSIGHT_029311.jpg
#epsteinweb #houseoversight029311

employees on income imputed to
IMPACT. The Supreme Courts decision spending accounts, health savings accounts employees for same-sex married spouse
presumably enables same-sex married and health reimbursement arrangements and refunds of payroll taxes paid by em-
couples to take advantage of portability as available to opposite-sex married couples. players on that income. FICA tax refund
part of their estate planning. The IRS is claims by employers and employees for
expected to issue guidance. IMPACT. Employers in states that allow prior, open years may also be possible.
same-sex marriage will presumably need
Gifts. Because of DOMA, only opposite- to amend plans to cover same-sex married COMMENT. Some employers have at-
sex married couples were allowed to “split” spouses. The IRS is expected to provide guid- tempted to equalize the treatment be-
gifts to take advantage of a doubled annual ance on the timing of plan amendments, in- tween opposite-sex couples and same-sex
gift tax exclusion ($14,000 for 2013, for cluding the issue of whether benefits need to couples by providing so-called gross-ups
a total tax-free gift of $28,000). DOMA be made retroactive or only prospective from to cover the additional taxes that same-
presented even more of a disadvantage the date of the Windsor decision. sex couples pay on health benefits. Many
for same-sex married couples in that only employers require an employee to certify
transfers between spouses, where both in- | Domestic Partners. Many employee ben- that a domestic partner qualifies as a de-
dividuals are U.S. citizens, are allowed an _ efit plans in the private and public sectors pendent under Code Sec. 152.
unlimited gift tax exclusion under Code _ refer to domestic partners rather than same-
See. 2523: sex spouses. The definition of domestic Cafeteria Plans. Employer contributions to
partner varies. In some cases, it may en- a cafeteria plan are usually made under a sal-
IMPACT. Same-sex married couples can compass

February 10, 2026 at 3:21 AM

Epstein Web

@epsteinweb.bsky.social

Part 2/2 — HOUSE_OVERSIGHT_029309.jpg
#epsteinweb #houseoversight029309

$partial deduction if MAGI is less than $10,000 and no deduction if MAGI is $10,000 or more **$10,000 if lived with spouse at anytime during tax year; $112,000 if did not live with spouse at anytime during tax year IMPACT. In dealing with threshold status—can also give rise to additional tax amounts, a benefits/drawbacks analysis gen- benefits and restrictions. The following sit- “Same-sex COU ples may erally depends upon the extent to which that uations may be particularly relevant in the . . portion of any tax benefit below a thresh- case of married same-sex couples after the find that the benefits of old amount would otherwise go unused by Supreme Court’s Windsor decision: filin ga joint return may one of the partners if filing separately. With certain deductions, credits or contribution Dependency Exemptions, \n 2012, the not always be greater than levels, however, electing “married filing sep- IRS explained on its website that if a child filing separately...” arately” status may relegate each spouse to is a qualifying child under Code Sec. 152(c) eee we J $0 benefit depending upon circumstances. and both parents are same-sex partners, Te either parent, but not both, may claim a dependency deduction for the qualifying the child resides for the longer period of OTHER SAME-SEX COUPLE child if separate returns are filed. If both time. If the child resides with each parent INCOME TAX ISSUES parents can otherwise claim a dependency for the same amount of time during the tax deduction for the child on their income tax year, the IRS will treat the child as the quali- Being married for federal tax purposes—ex- returns, the IRS will treat the child as the fying child of the parent with the higher ad- clusive of the right to any particular filing qualifying child of the parent with whom _justed gross income. CCH Tax Briefing HOUSE_OVERSIGHT_029309$

February 10, 2026 at 3:20 AM

Epstein Web

@epsteinweb.bsky.social

Part 3/4 — HOUSE_OVERSIGHT_029308.jpg
#epsteinweb #houseoversight029308

$IRS __ tions and a reduction in personal exemp- filing separately” are higher than “unmarried, in determining whether certain thresh- tions are the most common among higher- not surviving spouse or head of household.” old levels and floors are reached. Those income individuals. For example: amounts in turn determine access to a va- Innocent Spouse Status. Married taxpayers __ riety of tax benefits. Some of these floors = Itemized deductions otherwise allowed must who file joint returns are jointly and severally or threshold amounts are applied to all be reduced by the lesser of (1) three percent of responsible for the tax and any interest or pen-__ filing statuses uniformly; others vary de- AGI that exceeded a threshold amount (see alty due on the joint return. In some cases,a _ pending upon filing status. chart, below) adjusted annually for inflation, spouse will be relieved of this shared liability for or (2) 80 percent of the total amount of oth- tax owed on a joint tax return. Three types of IMPACT. Depending upon adjusted gross erwise allowable itemized deductions. No re- relief are available: general innocent spouse re- income (AGI) and other levels reported duction is required in the case of deductions lief separate liability relief, and equitable relief. on a return, combining the income and for medical expenses, investment interest, deductions of each same-sex partner un- and casualty, theft or wagering losses. IMPACT. Because of the Supreme der a single joint return may or may not = Personal exemptions, likewise, are required Court’ decision, the three types of in- work to the advantage of the couple as a to be reduced where AGI exceeds a specified nocent spouse relief are now presumably unit, in contrast to filing as unmarried or threshold amount: by two percent for each available to same-sex married couples. married filing separately. $2,500 (or fraction thereof) by which AGI CCH Tax Briefing ©2013 CCH Incorporated. All Rights$

February 10, 2026 at 3:20 AM

Epstein Web

@epsteinweb.bsky.social

Part 3/3 — HOUSE_OVERSIGHT_029307.jpg
#epsteinweb #houseoversight029307

couples under the federal tax law. limitations is about to expire. Now that
the Supreme Courts decision is out, full The Supreme Court struck down Section
CAUTION. As mentioned, above, reso- refund claims, rather than protective 3 of DOMA, which defined marriage as
lution is pending on the issue of whether claims, should be filed going forward. a legal union between one man and one
recognition or non-recognition of a same- woman as husband and wife and de-
sex marriage in the State in which the COMMENT. Under current rules, a tax- fined spouse as only a person of the op-
same-sex couple currently reside controls payer can sign a joint return if his or her posite sex who is a husband or wife. The
whether the IRS will treat the couple as spouse is serving in a combat zone. In other Supreme Court did not strike down Sec-
married for federal tax purposes. Most Limited cases where one spouse cannot sign tion 2 of DOMA, which provides that
federal agencies have defined marriage in the joint return, such as because of injury or no state, territory or possession of the
the past based on a couple’ residency and illness, the other spouse may sign the return United States shall be required to give
not where they were married. and attach a statement explaining why the effect to any marriage between persons
spouse was unable to sign. Same-sex couples of the same sex under the laws of any
who are married under state law are now other such jurisdiction or to any right
FILING STATUS presumably allowed these signing benefits. or claim arising from such relationship.
Section 2 was not challenged and, there-
A taxpayer's filing status depends in large COMMENT. Because same-sex marriage fore, was not at issue in Windsor.
part—if not exclusively in most cases—on is relatively new, the tax implications
CCH Tax Briefing
HOUSE_OVERSIGHT_029307

February 10, 2026 at 3:20 AM

Epstein Web

@epsteinweb.bsky.social

Part 2/3 — HOUSE_OVERSIGHT_029307.jpg
#epsteinweb #houseoversight029307

household, in most cases); they must file either not always be greater than filing separately
sider updating their estate plans, based upon jointly or married filing separately for 2013 (un-__—_ as unmarried individuals. Both differences i
the estate and gift tax impact of Windsor. less they are divorced or have a final separation _in tax rate bracket amounts and a variety of
agreement in place by the end of 2013). The income floors and thresholds used to deter-
general rule that has always applied to filing sta- © mine the right to certain tax breaks come
INCOME TAX BENEFITS tus now presumably applies Pl same-sex married into play in determining whether some
AND DISADVANTAGES status as well: an individual's filing status is de- same-sex couples were better off, income
termined for the entire year based upon marital _tax-wise, before the Supreme Court's deci-
Because of the Supreme Court's decision, the _ status on December 31* of that year. The IRS is__ sion; and what they should do now.
same tax benefits and disadvantages faced by _ expected to issue guidance in this area.
just-married, opposite-sex couples—in chang- IMPACT. Individuals in a relationship
ing from filing as separate, unmarried indi- IMPACT. Leading up to the Supreme who are not married and who each re-
viduals to filing as married filing jointly (or Court’ decision, many same-sex couples alize approximately the same level of
married filing separately)—are now shared by filed protective income tax refund claims
same-sex married couples. Likewise, however, using married filing jointly status. A pro- fi
those same-sex couples not married under tective refund claim is a claim filed to
state law continue to be subject to the same protect the taxpayer’ right to a potential NO NATIONWIDE
disadvantages and benefits, and face many of refund based on a contingent event for EXTENSION OF SAME-
the same strategic decisions, as unmarried het- a taxable period for which the period of SEX MARRIAGE
erosexual

February 10, 2026 at 3:20 AM

Thomas Keepout

@thomasworking.bsky.social

Economist Says If Trump Is Entitled To $10 Billion Over IRS Tax Data Leaks, Then Everyone Else Is Too. 'That’s Four Quadrillion!'

February 10, 2026 at 3:11 AM

mjayne01.bsky.social

@mjayne01.bsky.social

With all of the IRS layoffs last year, is there anyone left to check if you don't?
Probably should complete the forms and save several copies with your paperwork if needed one day.
Maybe things will be better by April 15th?

February 10, 2026 at 3:09 AM

Blackbelt10×

@blackbelt010x.bsky.social

American people want criminal charges against Elon Musk and his associates who illegally accessed our Social Security IRS and confidential Medical data. They are going to get accountability. Imo

February 10, 2026 at 3:06 AM

Gloria : loves google captions ✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️✨️

@alkakurei.bsky.social

IRS OK last time when rie joined it ended up everyon becamr friends lmao

February 10, 2026 at 2:35 AM

Illinois ICYMI

@illinoisicymi.bsky.social

Changes from "Big Beautiful Bill," IRS impacting taxpayers this tax season

Tara Molina reports on how the "Big Beautiful Bill" and job cuts at the Internal Revenue Service may impact when taxpayers will receive their refund.

www.cbsnews.com

February 10, 2026 at 2:33 AM

Adam “Ass Under Reconstruction” James

@papashittycams.bsky.social

Anyone else unexpectedly owe the IRS a huge amount this year?

We are fucked.

February 10, 2026 at 2:29 AM

Black Aziz Anansi

@blackazizanansi.blacksky.app

Not me needing to request my 2024 tax statement but being too paranoid to go to the IRS website and confirm my identity with a selfie because i dont want my biometrics being handed over to the feds

😭😭😭

February 10, 2026 at 2:29 AM

Confident Clutchy

@mcgritterson.industries

Less than a year ago, guys! You wanna know how they did it, so cheap? So fast?

United States seizes assets related to $126 million illegal staffing, money laundering investigation
Monday, April 14, 2025
For Immediate Release
U.S. Attorney's Office, Southern District of Ohio

DAYTON, Ohio – The U.S. Attorney’s Office for the Southern District of Ohio and U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) announced today that the United States filed a civil forfeiture complaint against assets related to an investigation into a potential $126 million illegal staffing and money laundering operation.

In July 2024, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) special agents, in collaboration with IRS Criminal Investigations and other law enforcement agencies, executed federal search warrants at Fuyao Glass America (“FGA”) in Moraine, Ohio, and 27 other locations in the Dayton area.

The civil complaint alleges that multiple suspects created roughly 40 entities (the “target entities”) that facilitate the harboring, transportation and employment of illegal aliens at various factories. The suspects used these target entities to augment the workforces of several factories with individuals who illegally entered the United States, who are unlawfully present in the United States and/or who are working without required employment authorizations. One of these factories is FGA in Moraine.

February 10, 2026 at 2:17 AM

❌️👑 Holly ❌️👑

@hollycaymcdonald.bsky.social

IRS defines this as a hobby, no?

Iowa Starting Line @iowastartingline.com · 10h

2025 had the worst gap in over a decade between farmers' operation costs and profits, Investigate Midwest reports.

Read more here: iowastartingline.com/2026/02/06/f...

February 10, 2026 at 2:09 AM

junita01.bsky.social

@junita01.bsky.social

American Citizens are trying to heat their homes, feed their children, Trump is speaking of building monuments of stone, and stealing Citizens revenue from the General IRS Fund. Trump is not interested in helping the working class, he is building things to place his name on as he entertain the rich.

February 10, 2026 at 2:06 AM