Originally Posted by
tpeter
well if taking 100% checks yes of course...
regardless i would still rather avoid an audit i have family and friends over the years get an audit and it seems a nightmare.
Have you been paying income tax on the cash your wife is bringing in? If that's not the case, and you're audited, the IRS is going to hit you with a bill for taxes on all the cash your wife has made, plus penalties (and interest? I'm not an accountant/lawyer), and they'll have the power to drain your bank accounts to get it.