Comment on Tax time
Blue_Morpho@lemmy.world 7 months agoif the IRS tried to calculate everyone’s taxes for them
The IRS does calculate everyone’s taxes without an audit. If you mistype a bank statement you will get a bill or a check from the IRS (depending on whether the error was paying too much or too little).
An audit is completely different than the typical, "you typed $1000 in bank interest but you only really received $100 so here’s a check for the difference in taxes. This has happened to me many times over the years. It’s why I no longer get stressed over taxes because I know the IRS will just send me a bill or a check in 6 months to fix any mistakes.
ggBarabajagal@lemmy.world 7 months ago
The IRS calculates an employee’s taxes based on the income and withholding information provided to the IRS by the employer. The employee “volunteers” his tax information (and IRS witholding payment, if any) with each paycheck. The accounting for all this is listed right there on the paystub.