Current Events > Oh shit, I just got audited by the IRS. They say I owe them $8,194.

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IdiotMachine
04/20/23 6:35:24 PM
#1:


https://gamefaqs.gamespot.com/a/user_image/0/1/3/AAdbDbAAEZvd.jpg

https://www.youtube.com/watch?v=_asNhzXq72w

Well time to go talk to my tax attorney.

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__aCEr__
04/20/23 6:37:11 PM
#2:


Just fake your death.

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Insanititious
04/20/23 6:37:53 PM
#3:


You had a good run

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Drumiester
04/20/23 6:39:03 PM
#4:


Username checks out

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Anteaterking
04/20/23 6:41:08 PM
#5:


There are too many details in this topic.

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famfam
04/20/23 6:43:19 PM
#6:


did you underpay...?
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Tyranthraxus
04/20/23 6:43:33 PM
#7:


That doesn't sound right unless you literally just didn't file taxes last year

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Irony
04/20/23 6:43:37 PM
#8:


Just fake your life

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TheMikh
04/20/23 6:44:13 PM
#9:


where'd that undeclared income come from

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MarbyIsBack
04/20/23 6:44:48 PM
#10:


https://www.youtube.com/watch?v=KWHrGQpIWP4

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IdiotMachine
04/20/23 6:44:59 PM
#11:


Anteaterking posted...
There are too many details in this topic.
I took out some money from my Roth IRA, but I took out less than what I put in, which I thought was okay and thus will incur no penalties (nor taxes). I didnt report this either on my income, because I didnt think I needed to report it.

I shared these info and documents with my lawyer; going to wait to see what he says, hopefully tomorrow.

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#12
Post #12 was unavailable or deleted.
bknight
04/20/23 6:45:51 PM
#13:


Just tell them you're a sovereign citizen, they don't have to pay taxes.
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IdiotMachine
04/20/23 6:49:53 PM
#14:


So much for those 87,000 IRS employees going after the billionaires

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wanderingshade
04/20/23 6:50:46 PM
#15:


bknight posted...
Just tell them you're a sovereign citizen, they don't have to pay taxes.

Something something freeman on the land something something private travel something the magna carta clearly states hummina mumbo jumbo

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Solid_Sonic
04/20/23 6:53:06 PM
#16:


I'm scared I'm going to be audited this year because I attempted to claim my new A/C system is meets energy efficient standards but I'm not 100% sure that's true.

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ScazarMeltex
04/20/23 6:54:36 PM
#17:


IdiotMachine posted...
So much for those 87,000 IRS employees going after the billionaires
They never got hired.

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Anony1125
04/20/23 6:55:13 PM
#18:


easy come, easy go

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IdiotMachine
04/21/23 10:05:09 AM
#19:


ScazarMeltex posted...
They never got hired.
Oh.

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tripleh213
04/21/23 10:12:35 AM
#20:


How rare is it to get audited?

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TaylorHeinicke
04/21/23 10:14:24 AM
#21:


IdiotMachine posted...
So much for those 87,000 IRS employees going after the billionaires
I thought it was commonly understood that it was far more profitable to harass low/middle class people for pennies than it is to battle the billionaires and their cavalcade of lawyers

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theAteam
04/21/23 10:14:45 AM
#23:


Uhh might want to confirm that's even real first

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radical_rhino
04/21/23 10:14:49 AM
#24:


You dont owe taxes on Roth distributions.

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Jagr_68
04/21/23 10:22:47 AM
#25:


IdiotMachine posted...
I didnt report this either on my income, because I didnt think I needed to report it.

Good job Einstein, because this likely cost you a $1,283 penalty charge. Best of luck to your lawyer because there is a slim chance that appeal is going to be honored when they review and your only excuse is "well I didn't know I was supposed to do that".

Just being real here because IRS is objective and petty like that.

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DarthDemented
04/21/23 10:26:47 AM
#26:


Damn! Not even getting the courtesy of lube.

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IdiotMachine
04/21/23 10:30:43 AM
#27:


Bass posted...
How old is your Roth IRA account? You have to wait 5 years from the account opening to take out money tax free, iirc.

theAteam posted...
Uhh might want to confirm that's even real first

Jagr_68 posted...
Good job Einstein, because this likely cost you a $1,283 penalty charge. Best of luck to your lawyer because there is a slim chance that appeal is going to be honored when they review and your only excuse is "well I didn't know I was supposed to do that".

Just being real here because IRS is objective and petty like that.
You guys being smart asses made me look it up just to prove you guys wrong.

Straight from the IRS website:
https://www.irs.gov/publications/p590b#en_US_2022_publink100089627

"You don't include in your gross income qualified distributions or distributions that are a return of your regular contributions from your Roth IRA(s). "

The second part "...or distributions that are a return of your regular contributions...". Booyah, I'm right. I didn't even need the lawyer, but whatever, I pay for a lawyer on a subscription-basis, so he'll write one hell of a response back to the IRS that they're idiots.

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kingdrake2
04/21/23 10:31:38 AM
#28:


IRS should be going after the richest people. not TC.

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EndOfDiscOne
04/21/23 10:31:54 AM
#29:


IdiotMachine posted...
I took out some money from my Roth IRA, but I took out less than what I put in, which I thought was okay and thus will incur no penalties (nor taxes). I didnt report this either on my income, because I didnt think I needed to report it.

I shared these info and documents with my lawyer; going to wait to see what he says, hopefully tomorrow.
Did you not get a 1099-R for this? You have to report the gross amount, then report $0 as taxable if it is truly nontaxable. The IRS will tax all of it if you dont report it.

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IdiotMachine
04/21/23 10:34:04 AM
#30:


EndOfDiscOne posted...
Did you not get a 1099-R for this? You have to report the gross amount, then report $0 as taxable if it is truly nontaxable. The IRS will tax all of it if you dont report it.
No clue. I gave all my documents to my tax accountant to do.

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Jagr_68
04/21/23 10:37:05 AM
#31:


IdiotMachine posted...
You guys being smart asses made me look it up just to prove you guys wrong.

lol fair enough I mean even so you can still appeal it and have the penalties reversed. An underreporting dept sent that to you so something is not adding up on the notice, might want to look at the rest of the thing beyond just pg 1 if you haven't already.

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DKBananaSlamma
04/21/23 10:37:43 AM
#32:


bknight posted...
Just tell them you're a sovereign citizen, they don't have to pay taxes.
Never fails. Ask any lawyer

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theAteam
04/21/23 10:50:24 AM
#34:


IdiotMachine posted...
You guys being smart asses made me look it up just to prove you guys wrong.

Surely no one would ever send a fake letter pretending to be the IRS to dupe unsuspecting people

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COVxy
04/21/23 10:50:36 AM
#35:


I just get monthy dumps of untaxed money, I don't even get a W2. So i really got fucked by taxes this year, owed 13k in total to fed and state.

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IdiotMachine
04/21/23 10:51:01 AM
#36:


Bass posted...
Nope, the five year rule is a thing.

tinyurl.com/muw25ra2

https://www.nerdwallet.com/article/investing/roth-ira-5-year-rule
/facepalm

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IdiotMachine
04/21/23 10:52:22 AM
#37:


Jagr_68 posted...
lol fair enough I mean even so you can still appeal it and have the penalties reversed. An underreporting dept sent that to you so something is not adding up on the notice, might want to look at the rest of the thing beyond just pg 1 if you haven't already.
Oh yea, most of it was from that Roth IRA distribution. I also had like $20 from HSA that I legit did not remember getting a form for, so whatever

I sent all details to my lawyer; waiting for him.

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VampireCoyote
04/21/23 10:54:23 AM
#38:


Jagr_68 posted...
Good job Einstein, because this likely cost you a $1,283 penalty charge. Best of luck to your lawyer because there is a slim chance that appeal is going to be honored when they review and your only excuse is "well I didn't know I was supposed to do that".

Just being real here because IRS is objective and petty like that.

you arent, being real youre acting like a snide ass

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The_Critic
04/21/23 10:55:21 AM
#39:


Play a reverse card.
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WrkHrdPlayHrdr
04/21/23 11:03:26 AM
#40:


TaylorHeinicke posted...
I thought it was commonly understood that it was far more profitable to harass low/middle class people for pennies than it is to battle the billionaires and their cavalcade of lawyers

My understanding was it was insanely EASIER to harass low/middle class people because going after the big guys takes way more money since their taxes are more complicated and you're probably dealing with lawyers. Now they are getting more funding and can go after the big guys.

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Bass
04/21/23 11:04:28 AM
#41:


IdiotMachine posted...
/facepalm
Oops, you're right and I'm wrong. Should have read a little harder. Wasn't trying to be a smart ass, though. Just remembered wrong initially. My mistake.

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RIPVyseCity
04/21/23 11:11:35 AM
#42:


Just set up monthly payments of $50 and you good
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TaylorHeinicke
04/21/23 11:37:29 AM
#43:


WrkHrdPlayHrdr posted...
My understanding was it was insanely EASIER to harass low/middle class people because going after the big guys takes way more money since their taxes are more complicated and you're probably dealing with lawyers
Yeah that

WrkHrdPlayHrdr posted...
Now they are getting more funding and can go after the big guys
I will believe that when I see it

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VeggetaX
04/21/23 11:39:55 AM
#44:


This is why I still hire a person to do my taxes. I owed 1200 in city taxes this year because I WFH. Got money back from the state and federal and that kinda balanced what I owe to city. Taxes are scary.

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TaylorHeinicke
04/21/23 11:42:01 AM
#45:


VeggetaX posted...
I owed 1200 in city taxes this year because I WFH.
Fucking what

Also if you WFH I believe you can write off or deduct or whatever a portion of your place's square footage (your office) since it's a work expense or something like that

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FactsKeepHurtin
04/21/23 12:03:45 PM
#46:


WrkHrdPlayHrdr posted...
My understanding was it was insanely EASIER to harass low/middle class people because going after the big guys takes way more money since their taxes are more complicated and you're probably dealing with lawyers. Now they are getting more funding and can go after the big guys.

Its easier because most of their tax information is provided to them and the IRS so any information they don't include the IRS can easily reconcile and send an automated notice to them.
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IdiotMachine
04/21/23 12:25:00 PM
#47:


Bass posted...
Oops, you're right and I'm wrong. Should have read a little harder. Wasn't trying to be a smart ass, though. Just remembered wrong initially. My mistake.
No problem. Refreshing to see such a response on the internet! Thank you.

Lawyer responded saying he got my documents and will respond to me within a week.

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Trumpo
04/21/23 3:18:10 PM
#48:


Interest too

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Flauros
04/21/23 3:34:25 PM
#49:


Ban taxes

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Sheiky-Baby
04/21/23 3:36:22 PM
#50:


https://gamefaqs.gamespot.com/a/user_image/7/6/2/AAewYGAAEZ7K.jpg

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VeggetaX
04/21/23 4:34:22 PM
#51:


Flauros posted...
Ban taxes
What's funny is I hate paying taxes but I work for a government entity so I need y'all to pay your taxes so I can get paid lmao

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