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Originally Posted by awesome1231 What do you mean what's under my name? So whatever I withdrew to my bank is how much you have to submit to the irs? But what do I do in regards to paypal asking for my tax I'd or social thanks. | According to US Tax Law all citizens of the US MUST report all Global Income regardless if anyone reports it or issues you a 1099.
If you are wealthy and you Expatriate you still owe the IRS all taxes for the next 10 years even if you move to the Cayman Islands.
The IRS is 10,000x more powerful than the Mafia.
They do NOT need any court orders to confiscate assets, put you in jail, etc... they are an entity all to themselves.
If you don't pay taxes and the IRS comes after you they will lien everything you own. House, Boat, Cars, Motorcycles, Snow Mobiles, IRA's, 401k, Bank account, cash value life insurance, etc...
The IRS agents work on Commission, yes Commission. The more they extract from you the bigger their Bonus.
Guess who ALWAYS wins. |