Re:Oregon Explores Novel Way to Fund College
by danielweber on Friday July 05, 2013 @11:06AM
(#5995159)
> This is already happening to avoid the income tax.
That's tax fraud. Call the IRS and turn in whoever is doing this; you will get a portion of the misreported funds as a bounty.
It used to be that stuff like company cars didn't count as income. That was back when we had income tax rates of 70% and 90%. It was trivial to avoid those taxes for a dozen reasons, once being that compensation that wasn't cash was not taxed.
Now, any kind of compensation [1] is taxed as income.
[1] except health care, for no good economic reason.
This article[1] states that food, for example, is a tax free perk. Additionally, I didn't specifically talk about the American tax code. It's a global phenomenon.
1. http://www.mercurynews.com/business/ci_22982220/irs-is-looki...
This is already happening to avoid the income tax.