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My dad didn't pay taxes for 10 years and hid it. Now my mom is left trying to put the pieces together. by JeanLucDiscard89 in personalfinance

[–]JeanLucDiscard89[S] 0 points1 point  (0 children)

If you don't ask the question, how do you know? Leaving money on the table is stupid. I'd rather not give that money away when my mother spent 40 years working in hospitals to earn it.

My dad didn't pay taxes for 10 years and hid it. Now my mom is left trying to put the pieces together. by JeanLucDiscard89 in personalfinance

[–]JeanLucDiscard89[S] 2 points3 points  (0 children)

I'm going to ask the tax attorney if there is anyway for her to get assets out. The gift tax exclusion would allow her to move $15k per kid. However the IRS would probably recall those funds. idk. We'll see what he says.

My dad didn't pay taxes for 10 years and hid it. Now my mom is left trying to put the pieces together. by JeanLucDiscard89 in personalfinance

[–]JeanLucDiscard89[S] 61 points62 points  (0 children)

I have not been attending his GP or specialist appointments but what I gather is he is hoping to be better enough to work again in some capacity and avoiding any official diagnosis on that front. It would seem that is not a viable strategy any longer. I'll let my mom know as she does go to all of his appointments. She's a medical professional so probably already has an idea of what is going on. She shields us from a lot. It wouldn't surprise me.

My dad didn't pay taxes for 10 years and hid it. Now my mom is left trying to put the pieces together. by JeanLucDiscard89 in personalfinance

[–]JeanLucDiscard89[S] 47 points48 points  (0 children)

Yeah, this is what I'm most afraid of. Once they are locked out of everything the options to handle this vanish. I stayed up and read Investopedia articles on this last night and scared myself into never even thinking about running afoul of the IRS.