So I'm a 28 year old NEET that hasn't had a job since my teens and has been living off of inheritance.
I worked as a teen and filed taxes once, went to college, and then had a lot depressing shit happen and just went completely off the grid for almost a decade.
I've done a few odd jobs over the years, but they always paid in cash and I never made more than 2k at the most on any given year.
I've never had an actual income, but I've also never filed taxes. I've never had the IRS contact me either, but I was told that filing now would cause a shit storm.
How fucked am I if I file taxes in my current state with no income and just ~50k in the bank that is all inheritance?
Who do I go to talk to about getting this fixed so that I don't end up owing them massive amounts in penalties?
I don't have any capital gains and the house I live in is an 80k paid for home that my parents owned
The inheritance wasn't that much at all, and it's easy to live off of it because the house is paid for.
Is there a way to file stating that I have had no income for this long?
Quit worrying, the government knows you haven't had a job. You're not going to get in trouble. If you're super worried go talk to a tax attorney, most will give you a first time meeting for free. They are going to tell you the same though.
I'm not asking about not paying, I have nothing to pay.
My question is simply about not filing taxes, which I was told is required by law, even if you're unemployed or make shit money.
Uh yeh no. If you were paid cash then its sketchy but no "shitstorm" will happen , if they had a paper trail or reason to be suspicious they woulf jave already contacted you
The 50k inheritance was taxed before you got it. They already know about it and its yours
Out of curiosity how much was the inheritance originally? I just want a little schadenfreude when you reveal you started with enough to retire / make huge amounts of passive income and then pjssed it away on hours of vidya and taco bell
The original inheritance was only 70k and I still have 50k of it.
I have basically no expenses
The cash jobs were all under the table and all just manual labor for one day kinda things.
The IRS want your ass paying them, so they're willing to talk to you. They don't get paid if you're in jail, and in fact will be paying for you instead. Simply pick up the phone, call in and ask questions on everything you want answered and they'll more than likely send you in several different directions to get those answers. Or, failing that, they'll just send you a shit ton of information.
I got audited for the mileage deduction on my business
>the IRS really isn't that brilliant, I miscaluclated my cost basis by 5k, realized it as I was going over my records with the agent, but she forgot the next meeting
>she miscalculated my penalty, i pointed it out to her, and she was like lol
>80% of an audit is browsing 4chan while they type stuff into the computer, if you're not a crook/falsifying records they're pretty human and will work with you
shout out to the exclusively chink, pooinloos and sandniggers on ebay who cancelled orders after paying for them, causing me 30k in returns on my Schedule C which triggered my audit.