3 ms·
What happens in the other 20% of cases? It feels like you're just handwaving away a large part of the story and how people react to dealing with the IRS. And a
by logicalmonster 3y ago
What happens in the other 20% of cases? It feels like you're just handwaving away a large part of the story and how people react to dealing with the IRS.
And again, if the government already knows your income to this level, why don't they send you a tax bill and completely eliminate the time, energy, and stress that average people face preparing taxes.
- bombcar 3y agoThe other 20% are where they might actually suspect you of something, but even those are much easier to deal with than people expect. The only one I know of personally was a friend misfiled his taxes and didn't allocate cost basis for day trading so the IRS had each sale marked as a cost basis of zero, and they sent a letter saying "you owe $800k in taxes based on this" but all he had to do was dig out the cost basis and refile. And yes, for the vast majority of people who do NOT own a business, they could just send you the 1040 already filled out (there's actually a way to get them to do that IIRC, something like you file for an extension and then request "what tax info do you have on me and the result is basically a filled out 1040).