I have filed tax return every year. However, I did not report foreign income because I did not know that I was required to report them.
Those income are from stock sales, dividends, and interests on some banking account. (all principles were established before my immigration. I am a greencard holder.)
Although I didn't get any notice from IRS, I voluntarily amended unpaid tax and it comes up to about $8,000. IRS has taken out checks.
Now I am just waiting to hear from them. I am wondering what IRS would do in a case of voluntary tax correction. I am aware of paying penalty and interest. Is this considered as a criminal/civil conviction? Would they charge me for tax evasion? Also, what can be done at a state level?
Thank you very much.