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2007-06-29 08:27:45 · 7 answers · asked by sounhappy73 1 in Business & Finance Taxes United States

7 answers

Yes and no. You cannot go to jail if you can prove a hardship, but you can go to jail for fraud.

Here is what is more likely
(a) File a tax lien against you;

(b) Levy your bank account;

(c) Garnish your wages;

(d) Close down your business;

(e) Seize and sell your home;

(f) Damage employment and business relationships;

(g) Assess you personally for corporate employment taxes;

(h) Put you in a monthly installment payment arrangement that is too high;

(i) Contact your banker, neighbors, friends and business relationships concerning your tax liabilities;

(j) Go after third party transferees of your assets.

2007-06-29 08:31:06 · answer #1 · answered by halestrm 6 · 1 0

In theory you could go to prison, but the IRS would much rather just have your money than throw you in prison.

Prison wages aren't high enough for them to collect anything on your debt.

It takes a lot of effort over an extended period of time, usually involving either tax fraud or tax evasion before the IRS will prosecute. Even then, it's up to the courts to decide what the punishment will be, not the IRS.

2007-06-29 15:34:13 · answer #2 · answered by Bostonian In MO 7 · 0 0

Generally, if you don't lie to them, they will allow you time to work out payments. An attorney might even get you a reduced tax obligation. When you start to run into problems where you could be looking at jail would be if they found you had made concerted efforts to evade paying taxes, usually involving lying on your forms and in subsequent inquiries.

2007-06-29 15:41:57 · answer #3 · answered by John M 7 · 0 0

It's possible but not likely. If you have assets, they can be seized for payment. If you really can't pay what you owe, they'll try to work with you.

2007-06-29 15:31:53 · answer #4 · answered by Judy 7 · 0 0

Thats how they finally got Al Capone.Income tax evasion

2007-06-29 15:38:32 · answer #5 · answered by Pengy 7 · 0 0

Possibly, but they really rather have you out working & making payments. They will work with you on payment plan.

2007-06-29 15:33:39 · answer #6 · answered by gouldgirl2002 4 · 0 0

YES

2007-06-29 17:26:28 · answer #7 · answered by rhett_madison 3 · 0 1

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