The year is 2050. The world is on the brink of collapse. But you're still stuck on taxes. Here are some of our favorite case studies:
In 2176, the space-faring entrepreneur, Zara, traveled back in time to 2010 and invested in a small startup that would eventually become the largest intergalactic corporation in the galaxy. But when she traveled back to 2050, she found herself facing a 1000x tax bill for her "unreported" profits from the past. Zara's lawyer argued that the retroactive tax law was unconstitutional, but the court ruled that the tax code is "clear as a black hole."
Key Takeaways:
In 2087, the TTI company, Temporal Assurance, was founded to cover the financial risks of time travel. But when their policyholders began to travel back in time and earn profits, they found themselves facing a tax bill from the IRS. The court ruled that the TTI policy was not a legitimate tax-deductible expense, but a "frivolous indulgence."
Key Takeaways:
In 2100, the scientist, Dr. Johnson, was forced to travel back in time to 1999 due to a freak accident involving a time-space vortex. He claimed that his involuntary time dilation qualified him for a tax credit, but the court ruled that "involuntary time dilation" was not a legitimate tax-deductible expense, but rather a "temporary mental health condition." The court also ordered Dr. Johnson to pay back the taxes he had claimed on his "lost years."
Key Takeaways:
And that's just a few of our favorite case studies. Remember, taxes are the one thing that's always constant in the ever-changing timestream.
Continue to Chapter 3: Time Traveling Taxes: Theories and Debates