what will happen to me will i go to jail?
2007-02-04 13:59:00 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It depends on if you have children, how old you are, and exactly how much you made and how much you had taken out in taxes. My advice is to set up an appointment with a tax accountant. Prepare all 4 years who knows you might actually be due a refund. The sooner you do this the better because you only have so long to claim refund but the IRS can audit you for a much longer time period.
Good Luck!
2007-02-04 14:06:45 · answer #1 · answered by misskenzie12 2 · 0⤊ 0⤋
Gather up your old W-2's and any other tax papers, and file them as soon as possible before the IRS contacts you.
If you owe taxes, you'll have to pay interest and penalties. If you have a refund coming, you can still claim it back as far as tax year 2003. Anything farther back is lost.
If you file them, nothing will happen except if you owe, in which case you'd either have to pay up, with interest and penalties, or set up a payment plan with the IRS. If you let it go until the come after you, you'll have more problems. You're not likely to go to jail though unless you owe a lot and refuse to pay or file.
2007-02-04 14:26:01 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
It depends on "how much under" you are talking about!
2007-02-04 14:01:39 · answer #3 · answered by reifrj 3 · 0⤊ 0⤋