Do you have tax debts?

Young asian businessman carrying heavy box of TAX. Taxation concept

If in the last five years you have thought that because you were a salaried employee you should not have submitted your annual statement, you may be wrong. The IRS (Internal Revenue Services) may require you to catch up. The Internal Revenue Service (IRS) establishes parameters that indicate when to file, salaried or not. So start remembering, because as a taxpayer, the IRS can audit you for up to the last five fiscal years.

Among them, if you obtained income greater than $16.400.00 in the year. If you changed the regime or stopped providing services before December 31st of the corresponding fiscal year. If you obtained income from two or more employers simultaneously in the year and if you obtained other cumulative income for fees, lease or business activities, in addition to your salary.

What can happen is that you are charged fines and surcharges. When the IRS informs you of a debt, it is suggested to get up to date as soon as you can, to avoid such situations. Generally, in the audit with the IRS  you are asked for proof of income and withholdings as a salaried employee. If you are also a natural person with business activity you must present proof of deductions, such as water, electricity or telephone.

There are also people who receive more than $16,400.00 a year and do not file. If the IRS detects that you did not do them in the last five years, they are likely to review and request information, but from the last 10 years.

The audit of the last five years can be derived from the incorrect delivery of an annual declaration and the request for tax refund.

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