You know what happens if you fail to report some income? You get a notice 6 months later for the amount owed. That’s it. It’s no hassle at all.
It’s ridiculous that the US doesn’t send a tax bill to citizens like is done in other countries. You get the bill, amend it if there’s anything they missed, and send it back. If they know enough to audit you, they know enough to send the tax bill.
You know what happens if you fail to report some income? You get a notice 6 months later for the amount owed. That’s it. It’s no hassle at all.
It’s ridiculous that the US doesn’t send a tax bill to citizens like is done in other countries. You get the bill, amend it if there’s anything they missed, and send it back. If they know enough to audit you, they know enough to send the tax bill.
Yeah, but it’s not income if it’s a gift.
The reason the US doesn’t do that is thanks to lobbying by companies like Intuit and H&R Block.