Their Dad Hasn’t Filed Taxes In Over 24 Years. He Flips Houses For A Living And Thinks ‘Everything Will Go Away If He Ignores It’
A 21-year-old college student recently posted on Reddit r/personal finance The society went into panic after their father shared this. did not file taxes over a period of more than twenty years. The post begins: “My father hasn’t paid his taxes for at least 24 years as long as my mother has known him.”
The situation escalated further when the family received a letter from the IRS claiming the father owed nearly $150,000 in back taxes. The agency is preparing to foreclose on the house. According to the post, the father moves house to make ends meet but does not report his income to the IRS. Instead, he was funneling money into the student’s bank account: “Am I his treasurer?” wrote the original poster. “It makes me very uncomfortable knowing that he hasn’t filed his taxes for so long and I feel like he’s using me as a way to get away from this situation.” [the government/IRS]?”
Don’t miss:
The student said that they are currently unemployed and having difficulty finding a job. Meanwhile, their mother is chronically ill and financially dependent on their father, who receives Social Security. The parents are not legally married but have lived together for more than twenty years.
Commenters were blunt: dad tax evasionand the student risks being seen as an accomplice. “You are not his treasurer, you are his tax evasion partner (knowingly or unknowingly),” one person wrote. Others warned that shared accounts could result in the IRS seizing funds or triggering legal consequences.
“When the auditors do the tracking, which is easy for them with bank accounts,” added one commenter who identified himself as a certified public accountant, “they will find that your father was avoiding taxes and making fraudulent transfers to a third party, which incriminates you.”
Trend: Americans with a Financial Plan Could Quadruple Their Wealth — Get Your Personalized Plan from a CFP Expert
Many people called for the student to immediately remove himself from all shared bank and credit card accounts and open new accounts in his own name at a different bank. Others warned them freeze their credit and check for signs of identity theft.
Some suspected that the father may have already had his own accounts garnished, prompting him to hide money through his child. “Make no mistake, your dad knows exactly what he’s doing,” one person said. “He chose to deposit money into your account because he knows the IRS will review his.”
