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/biz/ - Business & Finance


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22402646 No.22402646 [Reply] [Original]

I havent paid tax at all in my adult life. I earn approx 100k a year. How fucked am i? Not even joking. Was depressed and suicidal but now doing ok mentally.

>> No.22402677

jeff epstein is a swollen jawed chad with a thick dick and a whole lotta paper to back up his bravado

fygd? nigga?

>> No.22402692

>Was depressed and suicidal but now doing ok mentally.
Dont worry that will change

>> No.22402733

>>22402646
Ask your rabbi, Moshe.

>> No.22402756

flee to southeast asia

>> No.22402855
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22402855

Are you self employed or W-2. If you still did your deductions right if W-2 through your employer and didn't have other income you will just have a sore ass, speak with a tax lawyer immediately. If you were self employed or a decent chunk came from non W-2...you might as well commit no life now.

>> No.22402861

>>22402646
I bet you’re an ugly jew

>> No.22402874

>>22402855
w-why is that

>> No.22402998

>>22402874
https://www.irs.gov/businesses/small-businesses-self-employed/understanding-penalties-and-interest

https://www.efile.com/tax-penalties/
Just for a rough estimate guide

Like I said if W-2 mostly and deductions were done right you very well would have gotten money back each year but now will owe penalties on failure to file.

If not W-2....failure to file penalties and interest, + whatever you would have owed in taxes too.

>> No.22403042
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22403042

>>22402855
>>22402998
Self employed here, I think I haven't filled for liked 3 years. Should I just hope they never catch on or will I have to use my gains to get a tax lawyer?

>> No.22403202
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22403202

>>22403042
Did you suck dick at a truck stop for cash, keep all the money under your bed and buried in the yard, do most purchases in cash and not make large item purchases (cars, houses)?
If no, then they already know.

Lawyer.

If crypto probably still lawyer but at least you can plead stupid and confused about the laws as they weren't even solid on what crypto was (although it is easier to argue that 3 years ago for crypto to crypto trade, they are still going to laugh when you use that excuse for cashing out to actual USD)

The only real uptick is that supposedly you didn't seek to defraud the IRS / US Govt

>> No.22403262

>>22403202
I'm just a poorfag that made around $20k and under. I made decent gains this year though so I'm hoping to get things in order but it will hurt.

>> No.22403307

>>22403202
god fucking damnit

>> No.22403396

>>22403262
Wasn't paying attention to IDs so I thought all responses were 100k poster.

Self employed also have to pay the employer and employee portion of Medicare and Social Security (2.9% and 12.4% total)

At poorfag 20k and under you should consider just contacting the IRS directly maybe. There would still be penalties probably.
You could have filed for free for the last couple of years online I think but depending on you self employment deductions it might not be.

>> No.22403401

i didn't pay my taxes for 8 years. last year i back-filed 5 years of taxes ON MY OWN. just mailed in a fucking two-inch stack of papers and let those government beancounters deal with it themselves. i also wrote a note saying "dear IRS, whoops lol sorry here are all my back taxes. i promise i will pay them each year from now on." it took them like 4 months but i finally got my receipts back, no problem whatsoever. don't be a bitch and get a lawyer, that's totally unnecessary. just man up and send them in and if they don't like it tell them to try their best to come after you if they really want.

>> No.22403442

>>22403401
chad af

>> No.22403482

>>22403396
Yeah but it was three years. I think it was roughly like $14k one year, $16k another, and $20k the third one. I've fucked myself over because it's confusing and I'm not sure what the best move is. I've also never reported any crypto trades and I started in 2018, which is why I was considering the lawyer. Or should I forget about crypto until I cash out?

>> No.22403664

>>22403482
anything under 20k (or even 30k really) is borderline/de facto poverty. they will not give a shit if you just backfile.