I have a pension I cashed and a medical study that H and R block said I would have penalties for and file as self employed.
2007-02-06 03:25:19 · 11 answers · asked by vnc620 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
Yes, it's called tax ivasion
2007-02-06 03:30:40 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Jail for Omissions ? Yes , tax fraud is what Al Capone actually went to jail on . Numerous people who have backgrounds that are difficult to prosecute , (due to witnesses being killed) were often sent up the river for tax fraud.
Regular people ? The computer catches everything now
(I once forgot to list a $50 savings bond cashed 9 months earlier & the computer caught it 2 yrs later)
Soooo , the issue is , when it is caught , are you ready to pay the extra % and penalities for failure to declare ?
Far cheaper to figure out the $$$ due currently because it will be a lot cheaper than later.
If you don't pay later (including penalties), then jail for tax fraud.
2007-02-06 03:36:46 · answer #2 · answered by kate 7 · 1⤊ 0⤋
Last resort is jail. Just get it cleaned up.
BTW, when Al Capone didn't pay his taxes, his wife always did a MFS return because she knew better than to be caught up in his tax evasion. She could have had a big problem if they file jointly -- little piece of trivia.
2007-02-06 04:26:07 · answer #3 · answered by Dizney 5 · 0⤊ 0⤋
The IRS will have records from your pension payment and medical study from whomever paid you.
You may not go to jail but they may tell you to amend your return and charge penalties.
And it's Evasion in Ivasion.
2007-02-06 03:36:51 · answer #4 · answered by koral2800 4 · 1⤊ 0⤋
Yes. don't take a chance. file an amended return, regardless what previous year you are talking about. there may be a penalty, but it's better than getting caught.
2007-02-06 03:45:56 · answer #5 · answered by Ovrtaxed 4 · 1⤊ 0⤋
Somewhere down there near the signature space, it says something like the information you provided is complete and correct. If it ain't, I would be very reluctant to sign and file it. Visit any federal penitentiary for more details.
2007-02-06 03:34:33 · answer #6 · answered by snvffy 7 · 2⤊ 0⤋
It's possible but not likely. If you did it on purpose, and continue to refuse to pay up, and it's a large amount, then it could happen. Usually you'd just have to pay what you owe, plus interest and penalties.
2007-02-06 05:15:58 · answer #7 · answered by Judy 7 · 0⤊ 0⤋
Its called Tax Evasion. That's what they jailed Al Capone on.
2007-02-06 03:32:51 · answer #8 · answered by lunartic5 3 · 2⤊ 0⤋
HELL YEAH. I am a teenager, my dad fills that stuff out and I still know that.
2007-02-06 03:32:41 · answer #9 · answered by webcop33 4 · 1⤊ 0⤋
yes it is tax avasion which is a federal offence!
2007-02-06 04:03:54 · answer #10 · answered by unan1m0us 5 · 1⤊ 0⤋