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Goner Message Board / ???? / Cheating on your Taxes...
Posted: Jan 30, 2008 6:39 pm
 
Any advice???
Posted: Jan 30, 2008 6:40 pm
 
dont do it.
Posted: Jan 30, 2008 6:45 pm
 
if I were to not file taxes this year, and change my withholding so I'm not paying any income tax now, how long would I be able to keep it up before fleeing the country?
Posted: Jan 30, 2008 7:15 pm
 
you'd have to split in october

you can extend your filing twice.

october 15 is the final extended filing day.
Posted: Jan 30, 2008 7:20 pm
 
yeah but I mean, does the IRS kick down your door and take you to jail immediately or do they send you threatening letters for a year first? what if I cash out all my $$ so they can't put a hold on the accounts?
Posted: Jan 30, 2008 7:25 pm
 
they will send you requests, reminders and notices before they send you threatening letters. if you have money in the bank.... if you ignore them long enough, they will put a lien on your accounts.
Posted: Jan 30, 2008 7:33 pm
 
they did that to my dad. he hasnt ever paid his taxes on time and has often been behind by a decade or more. he's self employed so they couldnt garnish his wages and he would make small payments to stay out of jail.
Posted: Jan 30, 2008 7:53 pm
 
if I were to not file taxes this year, and change my withholding so I'm not paying any income tax now, how long would I be able to keep it up before fleeing the country?

about 18 months
Posted: Jan 30, 2008 8:13 pm | Edited by: Vinyl Ritchie
 
it also depends on how much you owe. If you owe less than 5 grand, they dont persue you with much vigor...hell it doesnt even show up on your credit with amounts less than that.
Posted: Jan 30, 2008 8:33 pm
 
just get smart and avoid taxes not evade them
Posted: Jan 30, 2008 8:58 pm
 
I avoided taxes for the last two years, but it caught up with me. I'm pretty sure I'm going to owe them over $10,000 this year.
Posted: Jan 30, 2008 10:00 pm | Edited by: Will
 
i'm too lazy to look this up but maybe one of you financially savvy goners can give me some advice...

Could I legally opt to not withhold ANY money from my paycheck during 2008, and when tax time comes around next year see what the final tab is and just cut the IRS a check for the lump sum?

Let's say in 2007 my total federal income tax withholdings came to $5000 (arbitrary figure. I have no idea what my W2 sez). I'm going to assume that my fed tax bill for 2008 will be roughly the same. Wouldn't it make more sense for me to take $5000 now (just go with me on this. nevermind if I had 5G's lying around I would likely piss it away on booze/whores/hacked Showbiz animatronic puppets that play Motorhead) and put it in a risk free CD and have it earning a little interest over the course of the next year?
Posted: Jan 30, 2008 10:13 pm
 
Could I legally opt to not withhold ANY money from my paycheck during 2008, and when tax time comes around next year see what the final tab is and just cut the IRS a check for the lump sum?

theoretically yes, but you haven't given enough information for anyone to give you a real answer
Posted: Jan 30, 2008 10:34 pm
 
what else do you need to know, Theresa K? Now "I got people"!
Posted: Jan 30, 2008 10:34 pm | Edited by: SSSSSSS
 
Could I legally opt to not withhold ANY money from my paycheck during 2008, and when tax time comes around next year see what the final tab is and just cut the IRS a check for the lump sum?
I've done it. If you have a regular job, HR departments tend to freak out when you claim exempt, however.

Seems like there was a clause about it being no problem if you were a student, or something.

When I got excited about my refund, my Mom would always lecture me on how I was giving the government an interest-free loan.
Posted: Jan 30, 2008 10:36 pm
 
^^^ tru. Best case scenario you break even - you don't owe, you don't get a refund.
Posted: Jan 30, 2008 10:36 pm | Edited by: SSSSSSS
 
I avoided taxes for the last two years, but it caught up with me. I'm pretty sure I'm going to owe them over $10,000 this year.
Hehehe, you gotta be pulling down a LOTTA money to owe that much.

Hmmm, maybe not. seems like my tax bill is around $2k, and I don't make much at all.... so 3 years tax bill of $3333 aint all that much I guess.
Posted: Jan 30, 2008 10:56 pm
 
It's easy to not pay taxes. Only work for cash. Only pay in cash. Better yet, don't use cash, use trade and barter as much as possible.

I've not paid taxes in years. No problem. Just live off the grid.

This lifestyle of course has plenty of drawbacks.
Posted: Jan 30, 2008 11:41 pm
 
When I got excited about my refund, my Mom would always lecture me on how I was giving the government an interest-free loan.

i tend to tell people the same thing. i'm pretty adamant about it.

Hehehe, you gotta be pulling down a LOTTA money to owe that much.

not true.... when i had a real job in a corporation, i'd pay something like $30K in taxes.... not that i saw the money in the first place, but that's about what was withheld. anyone w/ any management-level job will pay more than $10K in income tax - most of it gets withheld
Posted: Jan 31, 2008 9:31 pm
 
if you ignore them long enough, they will put a lien on your accounts.
True. They did that to my ex- and to jerryd. They will lock your checking and all other accounts down without much warning.
Posted: Feb 1, 2008 2:30 am
 
I avoided taxes for the last two years, but it caught up with me. I'm pretty sure I'm going to owe them over $10,000 this year.

My debt to the city of Columbus was for $3989 when they recently audited my city income tax from 2001-2006. Some years were hardly anything (2006 was $55 between tax owed, interest, & penalty) & some were brutal (2003 was around $1600 all told). I've been pretty forthright with the city & have actually been to their office on 4 different occasions to talk to people instead of just calling & they have nixed the penalties, I believe. It's only $293 of the $3989, but $293 is still $293.

When I got excited about my refund, my Mom would always lecture me on how I was giving the government an interest-free loan.

i tend to tell people the same thing. i'm pretty adamant about it.


I think the government knows people can't save money, tried to make it for years so that it wasn't really to anyone's benefit, & wants people depending on their tax returns.
Posted: Feb 1, 2008 11:43 am
 
I did my taxes last night...oddly enough turbo tax lectured me on overpaying and loaning my money to the goverment interest free.

It highly suggested paying less or no taxes on every paycheck and saving money in a separate account that earns interest.

ING Direct has a savings account that earns 5% no minimum deposit.
Posted: Feb 1, 2008 1:54 pm
 
did my taxes last night...oddly enough turbo tax lectured me on overpaying and loaning my money to the goverment interest free.
Yeah! I tried that one year, just fucking around. Like I filed zero from January through June and then switched to two from July to December. I still got like a $300 fedral return. Can anybody explain how you can get it to $0 refund?
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