"Are they talkign 250k GROSS income?Or 250k ADJUSTED gross income after deductions?"Gotta be gross income....otherwise, how could 'limiting deductions ' work if you had already deducted them? The new Obama tax form will be1) How much did you make? _______________2) Deduct 20% of line 1 ---------3) New Taxes due ---------------4) AMount withheld by legal employer -------------- ( on W-2 form) 5) Amount that should have been withheld ------------- (90% of line 1) 6) Subtract 4 and 5 from 3 --------If line 6 is greater than zero, your taxes due are line 6If line 6 is zero or less, you still owe $118, 239If you would like to donate $1000 to the Obama Fund, please indicate soYes _____-No _______ (you will be contacted shortly about a mandatory re-education camp) Please mail your check to IRS - Obama TAx Collection ServicesWashington DC. PS. THere are no rebates for tax year 2012. or any year. Once we get your money, it is OURS to spend. If you make an error in our favor, too bad. If you make an error in your favor, immediately send in 3 times that amount. t
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