Re: Tax return question
I'll agree my reply was incomplete, but I stand by the concept.
The IRS, like any federal agency, is understaffed and underfunded. In their goal to maximize collections, they focus a huge amount of attention on the places they *know* there is unreported income: cash businesses.
The OP is filing his first tax return. Its doutful he's in an income range that will attract attention.
With respect to the $10K in an offshore account comment. Unless he transferred that much to NETeller from his US bank, or brought enough back to his account, there is no paper trail to trigger the audit.
|