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I knew someone once who didn't file about 3/4 years worth of taxes, he finally called the IRS, filed his taxes and got a refund.
That's not the same situation. You're describing someone who paid taxes (had taxes withheld from a paycheck) but just didn't file a return. The OP is talking about someone who hasn't paid taxes, nor filed a return. That's much worse.
How much he might owe isn't her problem, it's his. Why is she thinking of trying to solve it for him?
He's showing her who he REALLY is, someone who:
1) breaks the law
2) doesn't pay his fair share
3) doesn't think either of those things is a big deal
She should do one of the following, in order of preference:
1) dump him and don't look back
2) continue to date him as long as she having fun, but don't ever marry him
3) last choice and I don't advise it: refuse to marry him until he is 100% on the up and up with the IRS and even then, keep their finances totally separate.
Many years ago, I chose #3 in a similar situation. Marriage still only lasted 3 years, since, he was still the same person who got himself into that situation: selfish and irresponsible .
Before she marries him she had better, at least, find out if he is registered as a Democrat or Republican. It could make a difference, unfortunately! One case means he is more likely to be audited.
She said he makes roughly $50k a year. Can someone give me a breakdown of the dollar amounts in penalties and interest this guy owes, and tell me what realistically can happen when the IRS catches up to him? And also, how she can be penalized for this after she marries him in about 6 months?
I'm hoping I can convince her that this is a big enough issue that she really should postpone, if not cancel, this wedding, at least until he's filed and paid in full. Although, even that wouldn't guarantee he wouldn't just not file in the future again, after they're married. What if that were to happen, also?
Any info you have would be appreciated so I can try to save my friend from financial ruin from this putz.
Step #1. Ditch the guy
Step #2. Report him to the IRS and collect a large reward check
Step #3. Get new BF
Step #4. Use reward check to put a down payment on a house.
My friend's brother never filed or paid taxes all his life. He claimed the maximum withholding so nothing was ever withheld from his check. When he turned 63, he wanted to get SS. He applied, explained it to them and somehow he got in on an amnesty. Turns out he had several refunds coming to him so he signed them over to the IRS, they called it even, and he started drawing SS.
Only in America.
Your understanding is completely backwards. If he claimed the maximum withholding, he was having as much as possible withheld from his check. This would make sense and explain why he was owed several refunds because the IRS was sitting there holding his money from all those years.
Your friend's brother didn't get away with anything, he was an idiot for throwing away money for years.
My friend's brother never filed or paid taxes all his life. He claimed the maximum withholding so nothing was ever withheld from his check. When he turned 63, he wanted to get SS. He applied, explained it to them and somehow he got in on an amnesty. Turns out he had several refunds coming to him so he signed them over to the IRS, they called it even, and he started drawing SS.
Only in America.
Quote:
Originally Posted by Jeo123
Your understanding is completely backwards. If he claimed the maximum withholding, he was having as much as possible withheld from his check. This would make sense and explain why he was owed several refunds because the IRS was sitting there holding his money from all those years.
Your friend's brother didn't get away with anything, he was an idiot for throwing away money for years.
I would bet that Red On The Noodle meant maximum exemptions if nothing (or close to nothing) was ever withheld from the paycheck
This marriage is doomed from the beginning. She can either dump him now and run away fast, or marry him and wait until she has a couple of kids and her life is completely destroyed and then dump his worthless butt.
The guy is not only a loser but a potential felon and it isn't going to get better.
With that said, don't waste you time trying to convince her to not marry him, she thinks she is in love and will need to learn the hard way, they all do... She will just hate you until after she is up to her neck in trouble, then you will be welcomed back...
Harsh? You bet, True? Absolutely... Don't get in the middle of it.
So people confuse not filing taxes with not paying taxes. If you have an employer and your taxes are being withheld, not filing is a totally different animal than if you are self-employed and not paying any taxes at all.
Edit: Sorry, posted this before reading page 2. This has already been stated above.
Self employed people have deductions. I'd bet he probably wouldn't owe a whole lot on a $50,000 annual gross after deducting all his expenses. However, the longer he wants, the harder it might be to get all the info.
He should find a C P A and get the mess resolved.
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