2007-04-09 18:52:39 · 12 answers · asked by txrida88 1 in Business & Finance ➔ Taxes ➔ United States
You pay penalties and interest. You can't really get away from it as the IRS and state tax boards can basically make you pay.
2007-04-09 18:55:27 · answer #1 · answered by the Boss 7 · 0⤊ 0⤋
First you will be charged a failure to file penalty, then when you do finally file the return. you will be charged interest and penalties on the balance that you owed as of April 17th 2007. and until the balance is paid in full, If you totally forget to file the return the IRS will do a substitute return, giving you the lowest standard deduction, no credits or adjustments, which may result in you owing more than you would have computed.
The balance that you owe can be garnished from your wages and or your bank account can be levied against.
If you can't pay what you owe, at least file the return and then call the IRS to set up a payment plan with them, They are willing to work with you. but you need to also be willing to work with them
1-800-829-0922
1-800-829-1040
2007-04-10 00:44:01 · answer #2 · answered by Anonymous · 1⤊ 0⤋
More than likely you will get garnished wages until they are paid off,,,I had a mess up with my past job, where they didnt take out Federal or State, but this was beginning of this year so I dont have to file the taxes yet... I will file and pay what I owe just so I dont get garnished wages or any strikes on my Credit report
2007-04-09 18:56:39 · answer #3 · answered by Jacoby 2 · 0⤊ 1⤋
Eventually you'll get a bill from the IRS showing their calculations and telling you what you owe, and giving a date you must pay it by. There will be interest and penalties added to what you would have owed in the first place.
2007-04-10 07:15:55 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Charmed is an idiot. She doesn't know the chances of jail. BENJAMIN IS AN EVEN BIGGER IDIOT THAN CHARMED. He just frikken proved my point with his own example. Don't worry anyway, Benjamin- the chances of them sending a janitor to jail are probably even less.
It is in your best interest to file your taxes. Only 1-2% of tax returns are audited. One that is not filed at all will draw too much attention. Your best bet is to file an extension. They won't send you to jail if you file but can't pay- they will take your property, however, if you can't pay within a reasonable amount of time.
Go with the flow and file (at least an extension), and get on with your life.
2007-04-09 19:03:22 · answer #5 · answered by rattyboo 3 · 1⤊ 1⤋
You will be guaranteed first a letter and then more personal attention from the IRS (or the equivalent agency of your country). Depending on the circumstances and the quality of your lawyer, you can expect heavy fines on top of having to pay the original amount you owed, and a very good chance for criminal charges including jail.
2007-04-09 18:55:49 · answer #6 · answered by charmedchiclet 5 · 0⤊ 2⤋
I suppose the IRS might be a tad upset if/when they catch it. Then they might do something like audit you or charge you with tax evasion or something equally unpleasant.
2007-04-09 18:55:52 · answer #7 · answered by DJL2 3 · 0⤊ 0⤋
well to the person that said charmed is an idiot is an idiot themselves. i have had my taxes and payment not get to the irs and a few months later they did send me a letter. i informed that that i did make my payment so they just let me cancel the check and write them another one. and i didnt have to pay any late fees or penalty.
2007-04-09 19:15:19 · answer #8 · answered by benjamin 2 · 0⤊ 1⤋
File anyway and make arrangements to pay in installments.
2007-04-09 18:55:09 · answer #9 · answered by Anonymous · 0⤊ 0⤋
the irs will track you down and garnish your wages
2007-04-09 18:54:45 · answer #10 · answered by control 3 · 0⤊ 0⤋