Will the IRS Catch Me?

[angie girl]

I am sitting here on unlucky Good Friday the 13th (sure was unlucky for Jesus, but forget that part) staring at my tax return. Handed to me by this accountant guy I paid to do it a few days ago.

So I started a new job last year, and I guess I became what these tax guys call an 'independent contractor', so I don't get withholdings from what I get paid. Well I knew this was gonna happen, but I am staring at this amount I need to write a check for to the IRS people? I mean, I have the cash but it is way huge.

And I heard on the radio the other day, some talk show on NPR, that the IRS was auditing hardly anybody anymore because they have had cut backs and whatever. So my question is? if I sort of punt on this writing the check thing, will I get caught?

And also, in honor of tax day, what is your worst experience with the wonnerful IRS people?

 

[Iris]

You think you owe a lot now, wait until they catch you, if they do. Why risk it?

My own personal IRS horror story is that the day before X-mas, I got a letter telling me that I owed them more for some penalty or another. No documentation attached, just a Send Us Money letter. Yeah, like I'm just going to do that. Long story short it took me almost a year to get it settled, and as it turned out I didn't owe them anything more than what I had already paid.

 

[Sateema Lunasi]

Well, if it isn't $26,000 you are better off than me.

This is why I am moving to Belize.

Can you say tax shelter?

 

[dza]

"independent contractor" reads AUDIT ME to an IRS man.

 

[Todd]

The Icome tax people audited me the first year i ever paid taxes here in canada back in 1993 when i got my first job. I did the taxes up on my own came out owning 50$ or They hemmed and hadded me over for about 3 months then came to the conclusion that they owed me 700$. but ntil they did I thought I was doomed, I was wlaking on eggs for those 3 months.

 

[CW]

"independent contractor" reads AUDIT ME to an IRS man.

Yes it does,,, been audited three times now in seven years,,, been fussed at and penalized four times for not making estimated tax payments in a 'timely fashion',,,

Having the interest and penality added to the tax you owe can nearly double the orginal amount,,, just ain't worth it.

 

[dza]

im sorry CW - but thats why i bite the bullet and went big 5

 

[Weird Harold]

And I heard on the radio the other day, some talk show on NPR, that the IRS was auditing hardly anybody anymore because they have had cut backs and whatever. So my question is? if I sort of punt on this writing the check thing, will I get caught?

If you send in the return and don't send in the check, they'll start dunning you for the patment as soon as they get it -- no audit require there.

If you don't file, then eventually they will get around to wondering why you filed last year, and not this year and start checking. By the time they get around to digging out the information that you owed 26K this year, the interest, penalties and criminal charges will be more than you can imagine. It may take them ten or fifteen years, but eventually their computers will print out a little notice that there is something fishy with your taxes.

It sounds like you need a tax planning attorney for next year.

 

[OUTSIDER]

Don't know.......how fast can you run...?

 

[Cheyenne]

Eventually it will catch up with you. There is no time limit for them to go back to get you on fraud- it isn't the same thing as making an honest error. You have the cash, you owe it, so send it. And yes, being an independent contractor just screams "audit me."

What you're really asking is if it "is okay to steal, or will I get caught at it?" I doubt you use the criteria of if you will get caught or not as the test for what to do in the rest of your life besides tax filing.

p.s. I have no "worse experience with the IRS". I'm careful to fill out everything correctly and pay on time. I've never been audited yet, but I know I'd pass with flying colors if I ever would be selected. Bet you're all surprised, huh?

[Edited by Cheyenne on 04-14-2001 at 05:15 AM]

 

[Merelan]

Cheyenne, does that mean you claim your Magic peddling business on your taxes?

 

[Svedish_Chef]

Cheyenne, does that mean you claim your Magic peddling business on your taxes?

Its not a business... ITS PLEASURE!

 

[Cheyenne]

Cheyenne, does that mean you claim your Magic peddling business on your taxes?

I would if I didn't do it for free!
Some day maybe they'll actually pay me a commission....

 

[angie girl]

Sadness

All right! All right! I sent the check on Monday. I was just wishing to be wishing there waz some way out. If ya only knew how hard I worked for that money! but we all feel that way huh?