🎓 Doc Freemo :jpf: 🇳🇱Oh, i was under the assumption that you had to declare your taxes and would be punished (financially or with jail if you cannot pay) if you did not declare anything.
This is mostly correct except you have to remove the “or with jail” part, remove that and its correct.
So that is wrong, you can just not do anything and the default tax is payed/deducted in the US?
If you do nothing then the IRS will call you in for an audit and demand you pay and give you a chance to argue the amount owed. There will be a very hefty penalty of interest for back taxes owed you didnt file (As they dont tend to come after you until youve done it for a few years). If you refuse to cooperate the IRS will do their best to estimate the value for you and just forcable deduct from your account. But it wont be a fair amount it willb e a HUGE amount over what you would have paid if you did it the right way. Both that they overestimate by a huge margin, and because there are huge financial penalties.
You are only safe from jail time, not from financial penalties.
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