Irs Business Tax Tables
September 5th, 2010
Question: When will someone who doesn’t pay taxes get caught?
I know someone who is a small-business owner and also works part-time in construction under the table. He makes about 60k a year but hasn’t paid taxes in 2 years. He brags about it and buys extravagant things that he charges on his cc and never pays the bills. It infuriates me because I am a small-business owner and STRUGGLE to pay my taxes but I always do! When or will he even get caught by the IRS? I hear if you make under a certain amount of money they don’t even bother auditing you?
Answer: Sorry to give bad news but unless his boss is giving a 1099 to the gov’t he will never get audited. There is no proof that he worked. The biggest misconception is that you have to file taxes. I know of people (strippers for example) that have not files taxes in over 10 years and they are also self-employed making over 60K. But once again there is no record of the money they made.
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