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Thread: Tax ?Question

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    Featured Member redhothoney's Avatar
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    Default Tax ?Question

    i owe taxes from 2004-2005 and 2005-2006 I haven't paid and I haven't gotten notices. I did move, but this is the IRS wouldn't they have found me by now? I had a partnership with this company and I found out it wasn't legal. The business closed and has been closed for almost a year now, do I still have to pay those taxes?? Someone told me that I don't have to, but this sounds too good to be true. I wanted to clear all of my tax stuff up now. Thankyou for your time!
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    Default Re: Tax ?Question

    ^^^^ insufficient data !

    However, the IRS has no 'obligation' to try and collect back taxes in a timely manner, and there is essentially no statute of limitations for back taxes.

    I am told that the IRS typically now randomly audits about 2% of people in 'cash' businesses every year, as well as 2% of people in 'targeted' occupations. The IRS of course also initiates additional audits if other investigations happen to turn up probable cause that employees / business associates / contractors of the business under audit may owe back taxes as well. Thus there is nothing to guarantee that the IRS couldn't decide to audit you next year or the year after, and then examine your past 5 years worth of taxes, then slap you with back tax bills plus penalties and interest charges.

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