i haven't file my taxes in 7 years what will happen to me?

Answer 1

Once you're caught, your bank account will be seized. Maybe your assets. See a lawyer and try to remedy the situation. Put it this way, I'd go to the IRS before they came to me. I'm not sure they make payment plans, but go before you are caught, and get it over with (as soon as possible). Best of luck to you.

BTW, what happened? Are you a politician, successful entertainer, what? You're not Willie are you b/c if you are, Willie, its not like bankruptcy which you can file every 10 years or so. And you cant file a bankruptcy which includes taxes. If you're Willie, I didnt buy your music to get you out.
Sorry...I rambled

Answer 2

Depends. If your income was less than the filing requirement amount for your filing status, absolutely nothing at all will happen. If you earn less than the filing requirement amount, a tax return is NOT required though some clueless rubes here will tell you otherwise -- it just ain't so!

If you don't file a return, the IRS computers will crunch your numbers using the information that they do have available. If it appears that you will owe no tax or if you would be due a refund, they just drop the case since there is nothing for them to gain by pursuing it -- and if you are due a refund, there's something for them to gain by NOT pursuing it.

The only time the IRS will make a Federal case (pun intended, sort of) against you is if they think that you owe. And if they think that you owe, you'll normally hear from them within 1 or 2 years of the filing deadline for the tax year in question. If you are an ordinary W-2 wage earner and / or if all of your income was reported on Forms 1099 and you haven't heard from the IRS by now it's highly unlikely that the IRS thinks you owe them anything, at least for tax years 2003 and earlier.

The vast majority of taxpayers are actually owed money by the government. If you don't file a return, you will eventually lose the right to ask for that money. If a return is not filed within 3 years of the filing deadline, any refund that you were entitled to is lost forever.

The best advice is to go ahead and file the returns for the missing years. That will close the books on those years. If no taxes are due for any of the years, nothing at all will happen. If any taxes are due, the IRS will add penalties for late filing and penalties and interest for late payment. If you are due a refund for tax years 2004, 2005 or 2006, the IRS will send you a check for each of those years. If there was a refund due for tax years 2003 or earlier, that money is lost forever.

Answer 3

Some good answers but Judy's is the most accurate, I think.

Another person, though, suggested calling one of those companies that advertize on TV from a payphone. Frankly, that would be a waste of time. Those companies' modus operandi is to scare the proverbial out of you so that you will sign up with them and pay them several thousand dollars so they can sit around and do nothing.

I suggest going to see a well-regarded CPA or Enrolled Agent and dealing with your returns as soon as possible. Writing to the IRS to say you are sorry and that you were unfamiliar with tax law is only a good idea if it is credible. The IRS knows that most people know they have to file.

Answer 4

Write a book on how you managed to go 7 years without filing taxes; you have a bestseller on your hands. You will make oodles of money, appear on late night TV and probably be on American Idol as an honorary contestant. Or;;;;;you can assemble your W-2 forms, go to IRS.GOV for previous years, get the necessary forms, and fill out returns for each year and file them. There is a three year deadline beyond which you will forfeit any refund.

Answer 5

You need to file them as soon as possible.

If you didn't owe for those years, nothing will happen except for years before 2004, you won't get any refund that you otherwise would have.

If you owed for any of the years, then you'll owe the base amount plus interest and penalties. You can work with the IRS to set up a payment plan. As long as you stick with it, you'll be OK. If you don't, they will seize some of your assets to pay what you owe.

Jail is a possibility, although very unlikely.

Answer 6

Maybe nothing if you had no income.
If you had none, they probably owe YOU money. If you had income, its just a matter of time before they seize your assets. Bank accounts first, Real estate second. Thats a nightmare.
Why not go in and file all 7 years at once. Be straight up with them, tell them you want to get caught up and fly straight from now on. They will actually help you. If you end up owing, remember there is no such thing as debtors prison. You cant go to jail for owing money. You CAN go to jail for not filing returns. Thats illegal. Lying is fraud. Just be straight up, and yeah, you'll have to do some running around, but thats it. Even if you owe, they;ll let you do payments. They HAVE to.

Good luck.

Answer 7

You could be convicted of tax evasion, which is a federal offense. The federal court system doesn't fool around, and sure doesn't take this lightly. You will be sentenced for a period of time in a prison that is so bad, you won't ever want to do that again.
What you can do right now to save your self, is to find a good tax lawyer, or go directly to the Federal tax office in your city, and tell them you want to get things straightened out before they find you. It can be worked out, or you can play with fire, they will find you eventually. I am not trying to scare you, heck I'm scared for you. Good luck, don't wait.

Answer 8

I agree with bark s. But do not give them any more information than is absolutely needed. I got behind on payments to them, just 2 months, and they froze all my accounts at Christmas time . I had checks bouncing all over and additional penalties from all directions. All this because I co-operated and gave them the info on accounts. Get everything from them in writing don't trust verbal instructions or statements. Tread lightly and do exactly as you said you'd do, after all they really ARE big brother.

Answer 9

You need to come clean with the IRS. They might be slightly more lenient if you voluntarily disclose your failure to pay taxes. Otherwise one day, they will catch up to you and you can face jail time.

Answer 10

Oh boy!! You better get this taken care of. I got nailed last year for some taxes I owed from 1997 that were not paid!! They (IRS) took my whole paycheck from my employer. The government doesn't care about us!! We have to pay the senators salaries basically. They (Congress) just voted for themselves to have a $15,000 a month retirement fund...PER MONTH when each senator retires. Guess who pays their retirement?? Me and you!