They won't care this year most likely, they might not even care the next. But eventually you'll get fucked, and you'll end up paying all the taxes you owe plus the fines and fees and whatever else they tack on.
>>1020009 The IRS knows. I think it's over $20,000 or 20 transactions, and PayPal will send you and the government a 1099-K, and you'll hear from them eventually. Since they have a 1099-K document, it won't be, "Hey buddy, you haven't filed your taxes!" It will be "Fucker you owe $20,000 based on this 1099-K and you have three weeks to respond."
So, y'know, electronic trail and all. You're not getting out of this.
Also failure to file penalties are ridiculous. Even if you don't file your taxes, file an extension to avoid some penalties (but it's not an extension to pay). And you should file your taxes and just not pay them if you do anything. The interest rate at IRS is reasonable, but the failure to file penalty and other penalties are fucking horrible.
>>1020009 Hey OP, I have ben a tax collection agent for Revenu Canada back then.
Now I own a Ebay store and I made around 140K of Paypal transaction in 2015.
Get this advice : File your taxes report and tell the truth about your income.
On the other side, the best way to avoids the government to pick in your pocket is to play on your business expense.
If you gotta cheat to the governement, do it properly. Don't just forget to do you taxes, that won't work and you will get beautiful interest to pay and you will be on a blacklist for the further year.
But for Canada, you got 30 days after the end of your tax period to produce and pay your tax.
If you don't, you will get charged interest in your tax amount (if I remember well Federal interest are near 15%) also, if Revenu Canada take in charge your tax file (usually if you wait more than 2-3 month and if you have more than 500$ to pay), you will get charged with a 100,00$ (maybe that amount got higher) fees.
From now on if you don't pay or cooporate, you will have more interest, more fees and finally they can pick up directly in your bank account the amount they need or get your capital seized.
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