2007-04-09 19:34:46 · 3 answers · asked by mkb_310 3 in Business & Finance ➔ Taxes ➔ United States
Probably nothing at first. Then the IRS will file them for you especially if you have not filed for several years. If they file for you, they will not take any deductions you are entitled to. If you owe them money they will charge late penalties and interest compounded DAILY. Usually if a person starts not filing they will continue not filing. When it does catch up with them they will owe thousands to hundred thousands of dollars. If they don't pay they will go to court and probably jail. Unless of course they get an accountant willing to file all of the years they did not file. If you saved all of your receipts for the years not filed it can reduce you tax liability greatly and you might not owe so much. It would be a mess. It is very stressful. The IRS compounds interest daily. I would just take a deep breath and get it over with.
2007-04-09 20:13:54 · answer #1 · answered by dani113077 2 · 0⤊ 0⤋
It depends. If you owe, eventually the IRS will just send you a bill based on their calculations - and they wouldn't know about deductions you might have, so those wouldn't be included.
If you have a refund coming, nothing will probably happen.
And if you don't make enough to have to file, then nothing will happen.
2007-04-10 14:13:58 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
The Income tax in America is illegal.
It is a 'voluntary' tax.
I urge you to write Irwin Schiff:
Federal Correctional Institution
Irwin Schiff 08537-014
PO Box 2000
Fort Dix, New Jersey 08640
He is in prison for not paying income tax.
Read his BANNED BOOK - FEDERAL MAFIA
http://www.paynoincometax.com/federalmafia.htm
Chief Justice John Marshall warned us "The power to tax involves the power to destroy."
2007-04-10 02:53:56 · answer #3 · answered by Paul M 2 · 0⤊ 1⤋