does anyone know what the penalty is for not filing your income tax return to the I. R. S.?

Answer 1

They will charge you significant penalty and interest on the tax they presume you owe, based on whatever information has reached them. This may be more than the tax you would actually owe if you sat down and did your taxes. The longer you delay, the worse it gets, so get some help and get caught up on your taxes. If you can't pay the full amount you owe, you can usually arrange to pay by installments. Interest will continue to accrue, but not penalties. See the link below for the IRS policies on late filing.

If you are owed a refund, there usually will not be any penalty assessed, even if you file late. If you were not required to file (because your income is too low) there is no penalty for filing late. Normally you would only file because you could get back a refund. In this case, just go ahead and because it's your money. If you don't claim it within 3 years, the government gets to keep it.

Answer 2

If intent to evade tax is shown, it could be jail time. However, mostly what they want is taxes, interest and penalty. Sometimes the penalty can be one hundred percent. Interest runs over nine percent, compounded daily.

Answer 3

You get charged interest on the amount you owe. If you let it go too long,the IRS will come to your home or come to your work to pick you up. They can even attach themselves to your salary till the amount and interest are paid in full. Also,you can say goodbye to any tax refund checks you were expecting.

Answer 4

They'll charge interest and eventually can garnish your wages. Sometimes, you can even be arrested for tax evasion.

Answer 5

they charge you interest and sic a collection company on ya

Answer 6

DEATH!!!!