Michael Avenatti allegedly failed to file tax returns. Why that's a very bad idea

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The attorney, who once represented Stormy Daniels, is facing federal wire fraud and bank fraud charges. Authorities claim he failed to file a return for three years.

Procrastinating on your tax returns is bad enough. Skipping out on them — and the taxes owed — could put you in a lot of hot water.

In reality, Avenatti didn't file personal income tax returns for those three years, authorities said. He also didn't make any estimated tax payments in 2012 and 2013, according to the U.S. Attorney's Office in Los Angeles. As much as you hate to filing your taxes this spring, the IRS has ways of tracking down your income and making sure you pay what you owe.

Once you've turned in your Form 1040, the IRS typically has up to three years from the due date of the return to audit you.The American dream exists, but millennials can't afford itIf you've omitted more than 25 percent of your gross income on your return, the IRS has up to six years to examine your 1040 and slap you with taxes owed."If you don't file at all, the IRS isn't subject to any statute of limitations," said Blank.

 

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Damn, I kept thinking he was a smart guy. I appreciated his support of Stormy, but this shit is the real guy not the one we thought he was...

The Dems wanted this clown to be President at one time and than...

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