I am pretty much a stay at homemom. I have a small part time job where I made about 4,000 dollars. They did not take any taxes out of each of my pay checks. If I didn't turn the W-2 stub in with my taxes, what will happen? Can the government find out?
2007-01-31 12:26:27 · 10 answers · asked by Rockinrobin 3 in Business & Finance ➔ Taxes ➔ United States
If there is a W2, then a copy of that has already been submitted to the IRS. If that is the case, then yes, they can - and will - find out.
This I know, because I'm paying off a bill from 2003, where I reported the wrong amount (accidentally, really!), and their copy of the W2 didn't match my entries.
If it happens, they'll send you a letter saying you owe more. You'll have the opportunity to contest it, but after a certain amount of time, they'll send you a bill.
2007-01-31 12:35:15 · answer #1 · answered by abfabmom1 7 · 0⤊ 0⤋
When a company sends you a W-2 or a 1099, they also send a copy to the IRS and it goes into their computers. At some point, the computers match all this info up with what was filed on returns. At that point you'll receive a letter telling you that you didn't claim this amount, and telling you how much additional tax you owe and you'll be paying it then, with interest.
So yes, they not only can, they WILL find out. It might take a month, or might take a year or more, but you WILL hear from them. You can file an amended return adding on this amount and avoid problems down the road.
2007-01-31 13:28:06 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Oh yes, they can and will find out. A copy of that W-2 is sent directly from the employer to the IRS.
If you fail to report and pay taxes on it, it will build penalties and interest for all the time is not paid and trust me, those can run into more than you want to deal with!
Just pay the taxes, it is way cheaper in the long run.
2007-01-31 12:35:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The short answer is, "The IRS is so screwed up that they wouldn't catch the mistake and you would be home free"
The long answer is, "Yes, they will catch it as the system works on a checks and balances principle."
You submit your W2 and report as income while your Employer submits their W2 to show as expenses. Their reported W2's should all be reported by their employees - if they do not, then someone is lieing.
Belly up to the bar and pay your taxes sister, its sexy that way!
2007-01-31 12:37:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
you are not legally required to file a tax return because your gross income falls below the threshhold filing status for single(<$8450) or head of household(<$10,850); you should, however, file a return in order to claim the amount of tax withheld from your paycheck; also, included in your refund will be approximately $1369 if you have one child and $1610 if you have 2 children at an income level of $4000; this is money you are entitled to and an estimated 7 million US citizens fail to annually collect this Earned Income Credit which is due them by tax law.
2007-01-31 13:55:21 · answer #5 · answered by illinipower 2 · 0⤊ 0⤋
" advised me back in 09 he in no way filed earnings taxes and in no way will" nicely, first you could desire to have some data that he has in no way document taxes in the previous. No data, no study. The IRS won't be able to spend time chasing down each and every grievance. devoid of data, you could desire to in basic terms be a p1ssed off ex (lady chum, chum, companion) who "needs to get even". An study devoid of data is seen harassment and the IRS might desire to get into difficulty (definite, even they answer to the courts). in case you have credible data, then the IRS can open an study.
2016-12-17 06:46:54 · answer #6 · answered by ? 3 · 0⤊ 0⤋
Yes, they WILL find out. A copy of your W2 was sent to the IRS. When you file your return (or if you fail to file one) they will be looking for that income. Assuming that you're married and filing a joint return, both you AND your spouse are liable for filing a correct return and claiming all income that you received.
2007-01-31 12:37:19 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In theory, yes. Because they have a record of your payments, etc. In reality, they probably won't pursue you because the tax dollar amount is so small. The IRS has limited resources, and would rather spend their time chasing after some rich guy who is trying to avoid paying millions.
2007-01-31 12:35:17 · answer #8 · answered by BPL 2 · 0⤊ 2⤋
yes they can find out because your employer will turnit in to the IRS so if you don't claim it now they will send you a letter later saying that you forgot to claim it and they have adjusted your taxes.
2007-01-31 12:34:46 · answer #9 · answered by naomi2550 2 · 0⤊ 0⤋
Whoever paid you may claim expenses....Gotcha!
2007-01-31 12:31:41 · answer #10 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋