With the affordable health care being tied to income, the IRS expects that under-reporting of income will increase... Many of you are already familiar with a CP2000, a letter from the IRS inquiring about income that is not reported on your tax return. IF the under-reported income is intentional, and/or substantial, the penalties can be more than astronomical, and may include jail time. JUST DONT DO IT!!! It is likely the IRS knows your income already... You know all those forms you get (even the ones you ignore), the IRS gets those forms, too! Think about it before you decide to cheat...
Posted on: Thu, 15 May 2014 15:57:41 +0000
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