@jamesbakercpa: Thinking about dodging taxes as an American? Let's see what happens when you choose this path, but be warned, it's not a smart one. 🚫 1️⃣ The IRS has access to information you might not realize, including 1099-K forms from payment processors. They cross-reference these with your tax returns. 2️⃣ If you don't file, the IRS can file a substitute return for you. This is usually not in your favor. 3️⃣ Failing to file means the statute of limitations remains open indefinitely. That's a risk you don't want. 4️⃣ If the IRS catches you, you'll face a mountain of penalties and back taxes. It's not a situation anyone wants to be in. In the end, it's better to handle your finances responsibly and ensure you're not facing any surprises from the IRS down the road. Pay your fair share, and you won't have to worry about penalties or legal issues! 💡 #taxes #internationaltax #cpa #accountant #taxconsultant #IRS #taxreturns #investing #llc #bankaccounts #creditcards #Business #llcbusiness #tax #incometax #taxseason

Jim Baker

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Saturday 03 February 2024 22:16:12 GMT