4 ms·

>In Australia I think they can go back 7 years. No idea what it is in the US. It's 3 years. And fairly easy to look up: http://www.irs.gov/Businesses/Small-Bu

>In Australia I think they can go back 7 years. No idea what it is in the US. It's 3 years. And fairly easy to look up: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/IRS-Audits http://www.irs.gov/Businesses/Small-Businesses-&-Self-Em... Those records generally should be kept for three years from the date the tax return was filed. >Yes by all means send me to prison for failing to mention a $24,000 retirement account in Australia I can't touch until I'm 65 instead. Great use of resources. The IRS doesn't put anyone in prison for making a mistake. You have to willfully try to cheat on your taxes, multiple times, before you're even close to the position of facing jail time.

niggler 14y ago
"The IRS doesn't put anyone in prison for making a mistake. You have to willfully try to cheat on your taxes, multiple times, before you're even close to the position of facing jail time." You only really face jail time if you do something else on top of tax evasion (like money laundering for a drug cartel).
- spydum 14y ago
  This is false, they specifically make examples of folks (especially so with businesses) that attempt to defraud the IRS. http://www.irs.gov/uac/Examples-of-Employment-Tax-Fraud-Investigations-Fiscal-Year-2012 http://www.irs.gov/uac/Examples-of-Employment-Tax-Fraud-Inve...
  - niggler 14y ago
    Did you read the examples? In many of these cases, tax fraud isn't the primary factor: "On September 18, 2012, in Cincinnati, Ohio, Larry Lough, of West Chester, Ohio, was sentenced to 24 months in prison, three years of supervised release, and ordered to pay $757,751 in restitution to defrauded investors and $145,175 in restitution to the IRS. Lough pleaded guilty on February 15, 2012, to conspiracy to commit mail and wire fraud, conspiracy to commit employment tax fraud and income tax evasion."
    - cperciva 14y ago
      conspiracy to commit mail and wire fraud Doesn't this just mean that he submitted his fake tax return via the US Postal Service and he paid his (falsely computed) taxes electronically?
      - nitrogen 14y ago
        As we saw in the Aaron Swartz case, "wire fraud" has a very broad definition.
rdl 14y ago
It's 3 years generally, 6 years for fraud, and infinite if you don't file. (IANALTAX, of course)
- hmottestad 14y ago
  IANALTAX? I'm sure it's not a lube from apple. However a quick google search didn't turn up anything.
  - rdl 14y ago
    I Am Not A Lawyer (Tax), I meant.
  - tanzam75 14y ago
    Many states in the US have strict laws against "unlicensed practice of law" -- which includes giving advice. This is why many American commenters feel the need to add an "I Am Not A Lawyer" disclaimer when commenting on any legal issues. I doubt if the IANAL acronym would be enough, though. Either spell it out, or leave it out.

niggler 14y ago

"The IRS doesn't put anyone in prison for making a mistake. You have to willfully try to cheat on your taxes, multiple times, before you're even close to the position of facing jail time." You only really face jail time if you do something else on top of tax evasion (like money laundering for a drug cartel).

spydum 14y ago
This is false, they specifically make examples of folks (especially so with businesses) that attempt to defraud the IRS. http://www.irs.gov/uac/Examples-of-Employment-Tax-Fraud-Investigations-Fiscal-Year-2012 http://www.irs.gov/uac/Examples-of-Employment-Tax-Fraud-Inve...
- niggler 14y ago
  Did you read the examples? In many of these cases, tax fraud isn't the primary factor: "On September 18, 2012, in Cincinnati, Ohio, Larry Lough, of West Chester, Ohio, was sentenced to 24 months in prison, three years of supervised release, and ordered to pay $757,751 in restitution to defrauded investors and $145,175 in restitution to the IRS. Lough pleaded guilty on February 15, 2012, to conspiracy to commit mail and wire fraud, conspiracy to commit employment tax fraud and income tax evasion."
  - cperciva 14y ago
    conspiracy to commit mail and wire fraud Doesn't this just mean that he submitted his fake tax return via the US Postal Service and he paid his (falsely computed) taxes electronically?
    - nitrogen 14y ago
      As we saw in the Aaron Swartz case, "wire fraud" has a very broad definition.

rdl 14y ago

It's 3 years generally, 6 years for fraud, and infinite if you don't file. (IANALTAX, of course)

hmottestad 14y ago
IANALTAX? I'm sure it's not a lube from apple. However a quick google search didn't turn up anything.
- rdl 14y ago
  I Am Not A Lawyer (Tax), I meant.
- tanzam75 14y ago
  Many states in the US have strict laws against "unlicensed practice of law" -- which includes giving advice. This is why many American commenters feel the need to add an "I Am Not A Lawyer" disclaimer when commenting on any legal issues. I doubt if the IANAL acronym would be enough, though. Either spell it out, or leave it out.