When Will The Irs Audit You
June 22nd, 2010
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Question: When will someone who doesn’t pay taxes get caught?
I know someone who is a small-business owner and also works part-time in construction under the table. He makes about 60k a year but hasn’t paid taxes in 2 years. He brags about it and buys extravagant things that he charges on his cc and never pays the bills. It infuriates me because I am a small-business owner and STRUGGLE to pay my taxes but I always do! When or will he even get caught by the IRS? I hear if you make under a certain amount of money they don’t even bother auditing you?
Answer: Sorry to give bad news but unless his boss is giving a 1099 to the gov’t he will never get audited. There is no proof that he worked. The biggest misconception is that you have to file taxes. I know of people (strippers for example) that have not files taxes in over 10 years and they are also self-employed making over 60K. But once again there is no record of the money they made.
IRS could chase Reggie Bush next
Saints running back Reggie Bush had no real reason to fret about the NCAA’s investigation regarding whether he accepted money or other things of value while still an “amateur” athlete at USC. The NCAA can do nothing to Bush. At…
Surviving an IRS Tax Audit : IRS Audit Process
Posted in 
Tags: