bostonianinmo
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If your income is below the filing requirement amount for your filing status, absolutely nothing will happen at all.
If you're paid in cash under the table, you have to pray that your "employer" never gets audited. Most businesses that rely heavily on cash -- restaurants and beauty shops for example -- tend to attract closer attention from the IRS and are much more likely to be audited. When that happens, they'll scramble to minimize their tax liability and the first place they'll look is any employees working under the table. When that happens, YOU'RE BUSTED.
If you get paid under the table, you can never open a bank account since the IRS will know about your income as soon as the money hits your account. When that happens, YOU'RE BUSTED.
If you get paid under the table, you can never buy a car (or anything else) that costs more than $10,000 as all financial transactions of $10k or more are reported to the Treasury Department. When that happens, YOU'RE BUSTED.
If you get paid under the table, you can never use credit. As soon as you do, your credit record will reflect your cash flow and when that happens, YOU'RE BUSTED.
While it's possible to stay off the IRS radar for a while, keeping up that posture over time is nearly impossible in modern society. You'll be severely constrained as to how much income you'll ever be able to earn and will always be looking over your shoulder for the tax man.
Worst of all, if you spend a lifetime avoiding taxes, you'll get ZERO when you retire and apply for Social Security and Medicare. That doesn't sound like much of a life to me. |
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Rob
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You will eventually get caught. besides the fact that working 'under the table' is illegal to both you and the employer.
And by you not filing a tax return, you have no history of work, no history for credit, most banks and lending institutions require proof of income, before approving loans, so say goodbye to ever getting a loan for a home or car, or even being approved for a lease on an apartment.
And by not paying taxes, you are not contributing to Social Security. so if you become disabled you will not be eligible to collect SSDI
You are only hurting yourself by working under the table and not paying taxes |
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Judy1
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Somtimes, if people only earn money under the table and don't file or pay taxes, they get away with it for a long time. But if their luck runs out, they end up with a huge back tax bill and possible criminal prosecution.
They can get caught in a wide variety of ways. They might get reported by someone. If anyone else who works where they do, or their employer, gets caught, the employer will be pressed for info on everyone who works there, and will be in even more trouble if they don't give the names, so would probably list the person as working there.
It's possible for someone to get away with it forever. As the famous Clint Eastwood line goes, "do you feel lucky? Well, do ya, punk?" |
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regerugged
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The IRS does get reports from employers and from any institution that paid you interest or dividend income.
When you get caught, you will have to pay taxes owed, interest and penalties.
If you owe a lot and have been avoiding tax payments for a long time, the US Attorney can also file criminal charges. So you are looking at jail time. |
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butterfly
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Sooner or later they will find you. When they do your employers taxes they will see that you were paid. Not saying it could happen now but if they do they can make you pay it . OR worse end up in prison. |
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Just Mee
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Someone, like me, will rat you out for not paying your taxes. Why are you special? The people who pay get quite annoyed at people like you who don't pay, and WE ARE EVERYWHERE! |
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bold4bs
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Ever notice rings around people's ankles? |
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Foodstamps
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if you owe your going to get smashed if the amount exceeds 500, if you dont owe and dont file they will not bother you with an audit, and when they do come at you your going to pay triple the amount due to fines and interest, but will not exceed three times the amount owed |
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mikeb721
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you go to jail for a very long time |
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A.Ganapathy India
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One day or other day they will be caught. If they are regular in IT return they can easily escape. But if they are not at all filling the return for several years even after having substantial income you will have to face the worst situation in your life. |
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Guess Who
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Ask Willie Nelson, it is against the law to not file your taxes. |
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