Underreported Income

Author Claudia Gantt on December 8, 2022

Fact checked by David J. Allen

All of the information on this page has been reviewed and certified by a tax professional.

An estimated 3 million Americans under report their income.

If they find that you underreported your income, the IRS begins the collections process. First, they send you a letter to inform you they found a discrepancy and that you may have unpaid taxes. At this point, you can either dispute the discrepancy or make arrangements to pay the amount due.

“I did not report all of my W-2s/1099s”