Many businesses go on to make the mistake of misclassifying employees in order to bring down their tax burden. However, the IRS has got its own ways and system in finding out about any discrepancies in it and takes actions immediately in such cases. The IRS ensures to keep in track of one’s tax payment and takes required actions if there are some discrepancies in the tax payment. First of all, it is necessary to get to know the rules and regulations that comes along with paying taxes and also about classification of employees to take the right informed decision in this regard.
How IRS works?
The code of tax necessitates one to pay their tax properly. The IRS would begin with the collection process as soon as it comes to know that there has been tax evasion on one’s end. Firstly, the IRS sends you a letter to inform you they find any kind of discrepancy in the paid tax and that you may have unpaid taxes. After the notice has been sent to you, one needs to be observant to take the required steps without delay in order to avoid any major actions by the IRS. It also checks and sends notice if the employer or business has hired an employee under wrong classification causing loss to the revenue incurred by the government. If it finds there is some mistake, the concerned party will be sent a notice and they have to reply back.
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