Right, it’s just that the IRS will eventually catch up to them because the employer files, so the IRS knows how much they made. When they do catch up, they’ll not only owe the original amount, they’ll owe a giant penalty and interest on it.
It does actually take a while depending on how much you owe exactly. I had a year where my employer wasn’t taking out the right tax amount and I ended up owing a couple grand. I eventually, a few years later, filed that year and a couple more all at once knowing those other years I’d be due a decent refund.
Yeah, for sure it can, especially with the IRS being intentionally underfunded (to reduce their ability to go after rich folks, which takes even more of their time).
Right, it’s just that the IRS will eventually catch up to them because the employer files, so the IRS knows how much they made. When they do catch up, they’ll not only owe the original amount, they’ll owe a giant penalty and interest on it.
It does actually take a while depending on how much you owe exactly. I had a year where my employer wasn’t taking out the right tax amount and I ended up owing a couple grand. I eventually, a few years later, filed that year and a couple more all at once knowing those other years I’d be due a decent refund.
Yeah, for sure it can, especially with the IRS being intentionally underfunded (to reduce their ability to go after rich folks, which takes even more of their time).