iam supposed to pay back on my income,,,,,and havent done it nor did i ask for an extenstion..... what will happen to me or what can they do?
2006-06-25 13:40:22 · 4 answers · asked by ijrg 3 in Politics & Government ➔ Law & Ethics
You can be severely fined and even thrown into jail. The IRS does work with people regarding tax payments. They even let you set up payment schedules. You may not be able to do this, though, as you are already EXTREMELY late!
2006-06-25 13:44:17 · answer #1 · answered by tom8o 3 · 1⤊ 0⤋
the same thing happened to my hubby. the next year they took his whole income tax refund and also fined him alot. They can get a warrant out for you If you respond to the warrant you wont go to jail but if dont respond to it you will. Call an accountant and have him work a payment plan up for you right away.
2006-06-25 20:53:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Here is the problem, there is NO statute of limitations if you do not file a tax return or file a fraudulent tax return. If or when they catch it as long as you live they can come back on you for the amount of the return plus penalties and interest.
2006-06-25 23:56:49 · answer #3 · answered by bestanswer 2 · 0⤊ 0⤋
I would go to TAXACT and file the tax form you need and pay what you can. They will work with you, not as bad as you think. Always use insanity defense.
2006-06-25 20:51:36 · answer #4 · answered by rallman@sbcglobal.net 5 · 0⤊ 0⤋