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Reply to "For those of you cheat on your tax return..."
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[quote=Anonymous][quote=Anonymous]Perhaps you don't realize this but it is very difficult for wage earners to cheat on their taxes in a material way. Almost all of your income is going to be reported to the IRS (i.e. W-2, 1099, etc.) so there is very little tax evasion in this income group. Brokerages track the basis for securities now so that one loophole has mostly been closed unless you've owned securities for a very long time. The vast majority of tax evasion comes from the 1%.[/quote] Perhaps you don't realize this but cheating is very common among those paying low/ no taxes. Think about all those tips or cash transactions. Think about highly-questionable benefits or child credits. That's a huge pot of money the IRS could well go after.[/quote]
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