Laura Saunders
speaker
5,937 appearances
109 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Laura Saunders’s voice in public audio — every appearance, attributed to the second.
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Appearances
There are more than 160 million tax filers per year.
And lately, the IRS has brought fewer than 2,000 criminal prosecutions a year.
So your chances of landing in jail because you forgot to report $200 are pretty slim.
He said if the IRS hasn't found you yet, chances are they won't.
They don't have a lot of resources.
And also that if you go back to correct those mistakes, you really could open up a can of worms.
We're talking about fairly serious problems here, like you have a significant side hustle and you haven't reported it for five or six years.
And it's making you a good bit of trouble.
tax-free income.
If you want to do something about that because you're worried or your conscience is bothering you or something, go on and correct it going forward.
That's his advice.
And if we had more simplification, we'd have less complexity and less money to pay tax professionals to help us.
And we wouldn't have to spend time complying with the law.
We would just obey it.
Well, it's happening now because at the end of 2025, many of the tax features of the 2017 tax overhaul evaporate.
They expire.
They go away.
The ones that affect individuals, the tax rates we have now, the brackets we have now, the standard deduction that was nearly doubled, and many other things, the Section 199 business deduction, they all expire.
And so Congress has to do something.
And so everybody's getting their act together to suggest simplifications or reforms or things like that.
Showing 261–280 of 5,937 · page 14 of 297
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