Exposed: The Tax Season Billion-Dollar Scam…The Truth

Exposed: The Tax Season Billion-Dollar Scam...The Truth | The Kitti Sisters - 1

EP230: Exposed: The Tax Season Billion-Dollar Scam…The Truth


Well, it’s that time again…

You know, the time of year when America pulls off an annual, billion dollar scam… 

Can you guess what it is? 

If you guessed tax season, you’d be spot on! 🤯

The truth is that taxes are an overly complicated, stress-inducing scheme that exploits and manipulates unsuspecting taxpayers every single year! 

We know this is a big claim to make. 

But here’s the thing…

We think that MORE people should be questioning a system that thrives on confusion, stress, and never-ending paperwork. 🤔

Wouldn’t you agree? 

When you actually dig deep into what’s going on here, you start to realize who benefits from tax law complexities, and who suffers the most from them.

So, let’s talk about it! 

We’re sharing why we believe taxes are a massive scam, and how you can learn to simplify, de-stress, and significantly lower taxes for yourself! 👏

Believe it or not, taxes are something we CAN actually make simpler with the right knowledge and strategies. 

Here’s to uncomplicating taxes to rise above a billion dollar scam. 🥂

Palmy ➕ Nancy

The Kitti Sisters


  • Come join us as we explore the complexities and frustrations of the tax system, uncovering a billion-dollar scheme that may shock you.
  • Together, we’ll examine who benefits from the intricacies of tax season and discuss simplifying tax filing in the U.S. Along the way, you’ll discover how to leverage loopholes, overcome tax hurdles, and ultimately triumph over the system’s challenges.

If We Want to Start a Real Estate Business in 2024, Avoid This!

As April rolls around, it’s not just the spring blossoms that are on our minds but also that dreaded three-letter word: T.A.X. For a lot of Americans, the thought of filing taxes is about as welcome as a root canal. Seriously, given the choice, many would willingly opt for the dental chair over the tax forms. 

And you’ve got to wonder, why is this the case? What are we talking about? Stick around and find out. 

But first, can you imagine a world where you can have groceries delivered to your door, a robots serve you, cars drive themselves, and you can even send a message to someone on the other side of the world? Wait – isn’t that a description of modern world?

The thing is, in this same oh-so modern world, you’re also filing taxes, which really just means you’re paying the government back based on how much you made in the past year. 

This sounds easy, except that it’s not as evidenced by the fact that the IRS tax code is almost 7,000 pages long, which would take the average person about 14 or so hours to read.

Which brings us to the reason we are here today, which is to talk about an unbelievably massive tax scheme, the likes of which we’ve never seen before. 

And guess what? The villain here actually isn’t the IRS, which might surprise you. So who do you think operates a billion-dollar tax scheme and gets away with it right under our noses?

To answer your question, we actually want to start with three other questions. First: what makes the U.S. tax filing system a “billion-dollar scam”? Second: who profits from the complexities of the tax season, and how? And last but definitely not least, has anything been done to lower simplifying tax filing in the U.S.?

Those are some pretty hefty questions and issues, so let’s start first by talking about this disturbing billion-dollar scam. You see, each year, millions of us find ourselves handing over a significant sum not only to the government but also to private firms. 

Why? Simply to help us determine our debt to the government. 

We’re talking about billions of dollars and your precious spring hours – sifting through a mound of documents, scrutinizing every faded receipt, all the while hoping fervently that the magic green number on your  screen increases rather than decreases. 

If you’ve used tax software even once in your life, you know what we’re talking about. 

The truth is, the tax code has morphed into this intricate and crazy system that appears to be working against us. And let’s not even delve into the emotional toll – the anxiety, the self-doubt, the sheer panic at the thought of committing a minor error. It’s all so stressful and exhausting. 

The worst part about all of this is that it isn’t just a side effect of modern times and the emerging world. 

Do you remember childhood moments watching your parents at the kitchen table, amidst piles of paperwork from the shoe box, a calculator in hand, brows furrowed in concern and confusion?

Well, that scene, that annual ritual of tax turmoil, wasn’t inherited by chance. It’s been preserved, not out of nostalgia, but for the sake of profit.

In an age where technology has streamlined almost every aspect of our lives, it seems pretty fair to assume that filing taxes should be so easy, it’s almost automated. Unfortunately, that’s just not the case. 

What should be a simple process has been taken over by a thriving industry that thrives on chaos and intricacy for the sake of intricacy. 

Instead of progressing, we find ourselves caught in a vicious cycle. And this, friends, is that we are talking about when we refer to the billion-dollar tax scheme.

So who’s to blame? Believe it or not, it’s not the IRS. We know – we can’t believe it either.  

The tax preparation companies, spearheaded by companies like TurboTax, have based their entire business model on the promise of simplifying tax filing. However, here’s the twist—they’re peddling a remedy for a problem they’ve actively perpetuated.

And it’s not solely the software giants to blame; it’s an entire sector of accountants and preparers who’ve entrenched themselves in the intricacies of the tax code, offering their services at a premium.

You might be thinking, hasn’t anyone attempted to modernize this terrible system? You bet they have. For years, visionaries have dreamed of a system where filing taxes is as effortless as verifying a pre-populated form from the government. How great would that be?

Ideas for a no-cost, government-operated e-filing system have been suggested many times, only to be shut down thanks to the influence of industry lobbying. 

It’s a familiar tale of small-scale challengers against mega corporations, good versus evil, Rocky versus Apollo Creed. But you know who suffers the most?

You guessed it – taxpayers like you and me. Despite living in what some would call the tech era, our tax system is stuck in a time warp, repeating the same tired, tangled procedures year after year. 

It’s a billion-dollar scheme, not in the sense of outright criminality, but in the manipulation of a system that thrives on its own ineffectiveness. The true toll of this scheme isn’t just monetary; it’s the expense of time, the stress, and the anxiety endured by millions of Americans annually.

So where does this leave us? 

Honestly – stuck. We, the humble taxpayers, are caught in a standoff between the desire for simplicity and the corporate greed that thrives on complexity. As long as those who benefit from the current system remain in control, the dream of a straightforward tax process will remain out of reach. 

Truthfully, it’s a really good reminder that this isn’t just about taxes; it’s about power dynamics and the fight to ensure that the system serves the people rather than exploiting them. 

Until we can shift that balance, this yearly routine will continue to highlight the consequences of prioritizing profit over progress.

So where’s the silver lining in all this gloom and doom? 

As real estate investors struggle to survive amidst the complexities of tax filing and preparation, there’s a glimmer of hope, a sense of relief amidst the chaos. 

Though the system may seem intentionally confusing and challenging, here’s where we, the investors, have an advantage: bonus depreciation.

According to RMS, The House of Representatives on Jan. 31 passed its version of the Tax Relief for American Families and Workers Act of 2024, a milestone that brings the measure closer to potential enactment.  The bill proposes to extend the 100% bonus depreciation for property placed in service during the years 2023 through 2025.

Should this bill become law,  we could find ourselves with our investments effectively offsetting a significant portion of our active income and passive income. 

This means some individuals who earns up to seven figures and potentially paying zero in taxes.

So yes, while it’s true that we might be spending more initially for tax preparation, the end outcome is quite favorable. In a system that often seems stacked against us, identifying these opportunities and using them to our benefit is truly how we gain (and keep) the upper hand. 

It’s not just about getting through tax season; it’s about excelling, about utilizing the system to our advantage. And that, friends, is where we achieve success.  Now that we’ve exposed the tax season’s billion-dollar scam, go watch this episode on the tax game and how to win it.

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We're Palmy ➕ Nancy Kitti 〰️ The Kitti Sisters

A sister duo team obsessed with all things financial freedom, passive income, and apartment investing + apartment syndication, who turned a $2,000 bank account into a nine-figure empire.  Now, we're sharing with you the behind-the-scenes secrets of our wealth building strategy.

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