2006-07-31 15:51:03 · 20 answers · asked by pk4921 1 in Business & Finance ➔ Taxes ➔ United States
Nothing, unless you had taxable income during that time. Then you'd have to pay the tax, PLUS the penalty AND interest. Jail is no longer the threat it once was. (Willie Nelson owed MILLIONS and he never spent a day in jail.) So, if you did earn income, own up to it, get the papers filed and make arrangements to make payments on the amount. If you earned no income during that time, then you're probably fine.
2006-07-31 15:54:43 · answer #1 · answered by Marvinator 7 · 0⤊ 0⤋
The IRS will do nothing until you are three years delinquent. This means today you should have filed 2003 taxes. (You are not required to file if you are due a refund). But you can normally only be refunded up to 3 yrs back. If you are owed a refund they will pay a low interest but kill ya for owed money. Look at all the years combined maybe you owe for 03 but not for 04 or 05.
If that is the case then when you file 03 include letter stating that you believe the other tax years will cover the amount you owe.
If they get ugly they will garnish your wages or attach your checking account , property etc. (With out notice) they will send a letter to your employer and bam there it is on your check pay stub with out warning as a deduction. If you are a business they can attach your checking account the same way. Then your stuck trying to show that they are injuring innocent people who are dependent. Up your deductions to fix a problem if it exists and try and file before the dreaded three year mark.
A call can put off the IRS for while with a good excuse.
Death and Taxes a Pretty Certain Events
2006-08-01 06:01:38 · answer #2 · answered by Red 5 · 0⤊ 0⤋
the ?? is why have you not filed tax? we are all responsible for paying a certain amount of tax even if we dont agree. all the other taxes that one does agree to pay is lack of knowledge and voting.I have never seen any amount of people in one place that do not know their rights as I have seen on this websight. debters prison was outlawed in the darkages. it sounds as if you had your own business and did not pay in properly if this is the case then ou probably owe some sort of tax. this is just one of the major problems in the US today people not knowing their rights there is a company called prepaid legal that could help you deal with this problem for less than a cup of coffee a day but once again the genius's that all of us listen to say that's all crap the rich have the lawyers we dont and thats that that is a poor mans mentality and if you listen to people who want to bring you to their level then you will certainly arrive thereand Im talking about family freinds and all others you know that say it cant be done our friends and family are our worst nightmare they will stop you from doing what they could not and they are ruthless about it oh thats a dumb idea oh you cant make money at that oh get a job work your *** off for the next 50 yrs and retire on the governments money sound familair it should these are the people that you have beleived in all your life and they are basically saying you cant suceed and you beleived them that is why you are asking the ?? that your asking stop watching tv and start reading a book learn something a go for it if you fail who cares do it again until you get it right and stop listening to people that have gone nowhere in their life.get on with yours pay the irs in payments even if its only 10 a month for ever they cant do anything about it if you offer only an idiot thinks you go to jail today for screwing up your taxes good luck friend i hope you find what yor looking for if you would like some help call me at 407-401-3849 or wdconine@yahoo.com again good luck what everyour thoughts are but i hope they are good one make a great day it is one of your rights to pursue happiness
2006-07-31 23:33:15 · answer #3 · answered by prepaidyeh! 2 · 0⤊ 0⤋
It depends if you were required to file taxes. If you didn't make much, like under the standard deduction amount each year, then you really didn't need to file. This year the standard is $5150. They aren't going to get mad at you, because you're saving them money if you don't file. I recommend filing though. If you were required to file though, they may litigate you with tax evasion in the worst case scenario. On a lighter case, they might just say, "hey, you need to file from now on, and you owe $___ in back taxes" If you have any concerns about it, and you are in dangerous situation where you might think you are going to get arrested, it would be wise to contact a lawyer now. I hope this helps!
2006-08-01 03:49:11 · answer #4 · answered by Josh 4 · 0⤊ 0⤋
You need to file. If you owe money, Penalties and Interest will be added on. If you you are expecting a refund, the IRS will not refund you money on a tax return
that was filed three years or more late.
I've known people ten years late- you have an opportunity
to take care of this before it gets out of control.
Best
2006-07-31 22:56:50 · answer #5 · answered by miraclerun123 2 · 0⤊ 0⤋
See a tax professional. You won't go to jail.
#1, It is quite possible that you may not even OWE tax...(if you withheld more than you would have owed.
And if you do, file the return and you tax professional will work out a payment plan.
The IRS generally doesn't put people in jail, because jailed people don't pay their tax bill. They'd rather you pay. And if you go voluntarily in good faith, there shouldn't be "jail time" even remotely in the picture!
2006-07-31 22:57:08 · answer #6 · answered by Nick C 3 · 0⤊ 0⤋
First, figure out if you needed to file. Next, assuming you did, go ahead and do the calculations. If you don't have the money, file anyway. The IRS will find you sooner or later. This problem will not improve with time.
2006-07-31 23:00:41 · answer #7 · answered by szydkids 5 · 0⤊ 0⤋
The IRS might come lookin for ya! The IRS has what it takes to take what youve got buddy! Or the repo men will come. Better file those taxes. You might even go to jail seriously.
2006-07-31 22:55:04 · answer #8 · answered by . 6 · 0⤊ 0⤋
Actually that happened to an ex of mine. They made him pay a penalty for the 3 years, but it all depends on how much you may owe! He ended up getting some money back!!!
2006-07-31 22:55:48 · answer #9 · answered by nurse_dez 1 · 0⤊ 0⤋
you still have to pay the irs and they will get you maybe not now but they will and you will owe the taxes, interest, late fees, so if i was you i would talk to them and make installaments and let them know what happened and they will work some thing out with you.
2006-07-31 22:56:45 · answer #10 · answered by LENORE P 4 · 0⤊ 0⤋