Highly unlikely. The IRS doesn't have the resources or the will to pursue low probability ancient tax cases against deceased individuals like Fred Trump.
there is no SoL on on being able to sue for back taxes so they could lose their fortune anyways.
https://www.optimataxrelief.com/tax-evasion-fraud-statute-limitations/
Highly unlikely. The IRS doesn't have the resources or the will to pursue low probability ancient tax cases against deceased individuals like Fred Trump.
New York state tax authorities have opened an investigation into allegations reported in the New York Times that President Donald Trump and his family created their real estate empire through “instances of outright fraud,” evading taxes on hundreds of millions of dollars.
“The Tax Department is reviewing the allegations in the New York Times article and is vigorously pursuing all appropriate avenues of investigation,” said James Gazzale, spokesman for Department of Taxation and Finance.
Apparently New York State does though:
https://www.bloomberg.com/news/arti...epartment-probes-trump-taxes-from-decades-ago
Yes. Documented income was about 5 percent of the total. I remodel a house, the owner writes me a check, I deposit that check. There is no documentation other than the check itself. Homeowners don't send 1099s.Yes you did. You have to include your W2, 1099, and other forms that disclose the sources of the income you are claiming. Do you really think the IRS just trusts you to tell them how much income you have with no documentation?
Yes. Documented income was about 5 percent of the total. I remodel a house, the owner writes me a check, I deposit that check. There is no documentation other than the check itself. Homeowners don't send 1099s.
You acted as a independent contractor, they should have issued a 1099. If they did not they are either committing tax fraud, or failure to file. If audited they would be in trouble for it. If you are really only declaring 5 percent of your income you are only getting away with it by pure luck that the IRS has not looked at your taxes too closely. Since the IRS so underfunded they are only able to catch a small amount of such crimes, that does not make it legal.
Only businesses provide 1099s from my understanding, a homeowner would not. That being said, Greenman must absolutely keep records of who exactly paid him, how much they paid him, and when. All of this tax information must be made available to the government upon request.
What conservatives don't seem to get is that getting Trump's tax returns is only the START of the investigation. It will probably take years to uncover all the rot and corruption he's engaged in.
You acted as a independent contractor, they should have issued a 1099. If they did not they are either committing tax fraud, or failure to file. If audited they would be in trouble for it. If you are really only declaring 5 percent of your income you are only getting away with it by pure luck that the IRS has not looked at your taxes too closely. Since the IRS so underfunded they are only able to catch a small amount of such crimes, that does not make it legal.
I am a homeowner and if I hire someone to remodel my bathroom, replace my roof, or even build me a new house, I don’t have to send them a 1099.
Completely incorrect on every point. Homeowners are not compelled to send out 1099's to contractors. I've never received one from a homeowner in the 32 years I've been in business. Do you send out a 1099 to your mechanic when he repairs your car? What about an accountant or doctor, do you 1099 them? Of course not. You don't have to 1099 a business.You acted as a independent contractor, they should have issued a 1099. If they did not they are either committing tax fraud, or failure to file. If audited they would be in trouble for it. If you are really only declaring 5 percent of your income you are only getting away with it by pure luck that the IRS has not looked at your taxes too closely. Since the IRS so underfunded they are only able to catch a small amount of such crimes, that does not make it legal.
Wait, even ignoring the misunderstanding about form filing, did he just admit to committing tax fraud? I have a strong hunch that he did.
Yes. Documented income was about 5 percent of the total. I remodel a house, the owner writes me a check, I deposit that check. There is no documentation other than the check itself. Homeowners don't send 1099s.
You do know he already acknowledged his mistake like 12 hours before your post right?Completely incorrect on every point. Homeowners are not compelled to send out 1099's to contractors. I've never received one from a homeowner in the 32 years I've been in business. Do you send out a 1099 to your mechanic when he repairs your car? What about an accountant or doctor, do you 1099 them? Of course not. You don't have to 1099 a business.
I declare all of my revenue, 1099 or not, and take all the deductions I'm allowed. Not a single tax form I've ever seen lists my net worth or where the bulk of my income came from, and it's all legal and proper.
Of course I do, those are expenses that are listed on scheduled C.So you dont have any record of how much material you bought, any other outside labor or any invoices for your work, just a check huh?
Yes. Documented income was about 5 percent of the total. I remodel a house, the owner writes me a check, I deposit that check. There is no documentation other than the check itself. Homeowners don't send 1099s.
Yes, the check is the documentation and tells the IRS where the income came from. If they audit you I assume they get access to your bank which provides them with copies of all checks you deposited.Yes. Documented income was about 5 percent of the total. I remodel a house, the owner writes me a check, I deposit that check. There is no documentation other than the check itself. Homeowners don't send 1099s.
now he is trying to walk it back but thats how it reads to me. He also keeps receipts of the input materials and writes off more. showing losses probably. Basically he is a freeloading pos.
I'm going to guess you don't read well, as I never said any of the things you just attacked. Or do you just make this crap up in your head and pretend it's truth? Your stupid or dishonest, which is it?Well it makes his adoration of Turmp make sense at least. Not at all surprised that he doesn't just play a piece of shit online, he really is one in real life. Gotta love how those assclowns do shit like that then use that as an argument for why we should just ditch taxes. Of course they always say its others doing it and take no responsibility for their own bullshit. Party of personal responsibility for ya...