What if i have worked and didn't file my taxes?

Question

IF I HAVE WORKED FOR THE PAST FEW YEARS AND HAVEN'T FILED MY TAXES WHAT WOULD HAPPEN?

Answer 1

If you are due a refund, you will lose it. The statute is three years from April 15 of each year. If you owe money, there is no statute of limitations and and when they catch you you will owe huge sums of taxes, penalties and interest. Usually more than double what you would have owed had you timely filed. The IRS will garnish your wages if necessary, levy on your bank accounts, put a lien on any assets you own, which could lead to their being sold, and do anything else they deem necessary to collect the funds. If you are due a refund for 2003 you had better file right now if you are due a refund. Good luck..

Answer 2

I agree with the above poster-well said.

I just wanted to add that you may have not needed to even file taxes for the past few years-depending on your income and whether is was enough to be required to file.

If you were single, your gross income had to be over $8,450, if you were a dependent your income had to be over $5,150 and married filing jointly even higher. Self employment income would require you to file if you made at least $400 last year.

So figure it out and if you were suppose to file, start doing it by downloading the previous year's forms from the IRS website (type the year in the search box) and fill them out and mail them in. Then do this years tax return asap and even file it online. You can only efile the current years return. You'll have to mail the rest in and if you owe any taxes be prepared to pay them (if you owe any interest or penalties for filing late, then you will get a notice later from the IRS) or you may be surprised and get several refunds--just fill out the info and see! But, just get caught up and do it and then you won't have it hanging over your head!