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4 Ways to Make the IRS Very, Very Happy

Writer's picture: Lenard de Guzman, EA, NPTILenard de Guzman, EA, NPTI




Ever wondered how to become a major contributor to the U.S. economy, even if you're not a billionaire? Well, look no further than the IRS! Here are four foolproof ways to rack up a debt with the taxman that will make your accountant weep.


1. The "I'm Not Paying" Penalty

This is a classic move. Simply refuse to file your tax return on time or ignore the balance due. The IRS will be delighted to slap on a late payment penalty and a daily interest charge. It's like borrowing money from the government, except you can't use it to buy a yacht or a private island.


2. The "I'm a Business Owner, and Business is Booming" Penalty

If you're a business owner, you're probably already familiar with the joys of payroll taxes. But did you know that if you fail to pay these taxes, the IRS can hold you personally liable? That's right, your personal assets could be at risk. It's like running a business, but with a side of financial doom.


3. The "I'm Not Sure What I'm Doing" Penalty

Sometimes, the IRS gets a little impatient with taxpayers who can't seem to figure out their taxes. In these cases, they may take the liberty of preparing your return for you. But don't worry, they'll make sure to charge you a hefty fee for their services. It's like having a personal tax advisor, except they're not on your side.


4. The "I Got Caught" Penalty

If you've been a bit naughty with your taxes, the IRS might eventually catch up with you. They'll conduct an audit, and if they find that you owe money, they'll be sure to let you know. It's like playing hide-and-seek with a giant, government-backed monster.


Conclusion

So, there you have it, four easy ways to become an IRS debt collector's dream. Remember, the IRS is always watching. And when they catch you, they'll make sure you pay. It's like a never-ending game of cat and mouse, but with a lot less fun and a lot more financial stress.






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