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/biz/ - Business & Finance

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11163580 No.11163580 [Reply] [Original]

can I get in trouble for putting 0 income on all my shit? I have a bunch of court shit and student loan shit I have to take care of but I make a few thousand on the side and I put my income as 0 because I never filled out taxes for it

>> No.11163605

>>11163580
You'll probably get more pity putting down your actual meager earnings rather than $0. Even homeless people are making more than $0 annually.

>> No.11163620

>>11163605
but I never reported it for taxes or anything I dont even know how to find what the total I make is

>> No.11163663
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11163663

You better figure it out, goy. This all seems too suspicious. I think you might owe us some sheckles.

>> No.11163670

>>11163580

Adjusted gross income includes losses from capital assets so if you got cuck'd in the worst bear market in history then feel free to go deeply negative

>> No.11163677

>>11163580
The standard us deduction for single is 12000 if you make under that it doesn't matter don't even file.

>> No.11163798

>>11163677
really? I thought you had to file any income im pretty sure its under 10k a year but its hard to say it might be right under

>> No.11163921

>>11163798
If you were W-2 and had withholding, the IRS probably ended up owing you money that you missed out on by not filling. Uncle Sam won't come knocking to end up paying you.

>> No.11164015

>>11163921
it would be a 1099

>> No.11164053

>>11164015
Roger that, over

>> No.11164110

>>11164053
so I dont have to give a shit if its under 10k a year? even if it was a little over no one would give a shit right?

>> No.11164155

>>11163580

>Can you get busted for tax evasion, not paying court costs, and defaulting on debt?

Nah, anon. You be aight, mah nigga. The IRS, courts, and credit bureaus don’t mean sheeeeiiiit.

>> No.11164268

>>11164015
You probably owe money in that case between income tax, self employment tax, penalty, and possibly ACA penalties depending on if you had health insurance.

I would just ride it out and hope the IRS doesn't come around. After 3 years, shred your financial documents. IIRC they can't touch you for tax liability beyond 3 years. If they do come around before then, just bite the bullet and hire a tax lawyer who can work out a payment plan/reduced amount/deductions.

Just FYI, I am not a CPA nor should you consider this financial advice. Everything on 4chan is satire.

>> No.11164304

>>11164268
yeah I dont think I make enough to really raise any flags and I wanna get a legit job soon

I was thinking about asking for health insurance but im kinda worried