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View Poll Results: How much of your income do you report to the IRS for taxation purposes?
100% of the money I make is not reported to the IRS 2 7.41%
I report very little of my income to the IRS 0 0%
The majority of my income is reported to the IRS 3 11.11%
I report all income to the IRS and only take legal deductions/credits 22 81.48%
Voters: 27. You may not vote on this poll

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Old 03-22-2010, 08:17 AM
 
Location: Tennessee
37,794 posts, read 40,990,020 times
Reputation: 62169

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If you are thinking about not filing a tax return and have ever filed one in the past, the IRS will find you. If not, and a third party (like a bank) has information or there is tax information from your past returns, they will prepare a return for you guessing your income and forcing you to come in with a return of your own to amend their figures, usually more than you'd owe if you filed one yourself and reported deductions/exemptions. They will do it for multiple years.

If you are thinking of underreporting, that is, filing a tax return but not reporting all of your income, they'll get you eventually and then you will owe penaties, interest and will only be able to get a job as the head of the Treasury Department in the Obama administration responsible for overseeing the IRS, White House Czar/Advisor in the Obama administration or you can work as the US Congressman in charge of writing the tax code as Chairman of the Ways and Means Committee.

Of course, the other way the IRS will find people now, for both nonfiling and underreporting, is through the national healthcare database. Bet you never thought about that. They will have access to your financial information plus the IRS has been put in charge of enforcing mandatory health insurance. If you recall, the national healthcare database was established in the Stimulus Bill, not Obamacare. Plus, the feds will have access to business books because of Obamacare (not sure if that was in the Senate or House Bill or both) so no employer will be able to pay people "off the books" in my opinion. In the past, that business would have had to be audited based on tax return or lack of them but I'm pretty sure the last iteration of Obamacare said they could audit your books to see if you are providing health insurance. They'll find those "off the books" people through that avenue.
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Old 03-22-2010, 08:38 AM
 
24,832 posts, read 37,329,809 times
Reputation: 11538
Quote:
Originally Posted by mohawkx View Post
Yes. Every single dollar that is due to them by law.. I found a dollar on the street last year and sent the IRS 28 cents and the State of Arizona, 9cents. No need to audit me.....do you hear? No need to audit me.
Our state tax in Michigan is rounded off to the nearest "0".

So does Arizona.

http://www.azdor.gov/LinkClick.aspx?...id=257&mid=878

Last edited by Driller1; 03-22-2010 at 08:45 AM.. Reason: adding of link
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Old 03-22-2010, 08:43 AM
 
Location: Bradenton, Florida
27,232 posts, read 46,639,854 times
Reputation: 11084
I report whatever my W-2's say, since that is the only income I have.
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