What will happen if I didn't file my taxes this year at all?

Question

If I didn't file this last April, but go ahead and file next April, and disregard the last year? Will I automatically get in trouble, or only if I am audited?

Answer 1

If you expect a refund for the year you did not file, you would actually not have a problem filing now, however if you owe money and then file next year, you will get notified of a missing return and any refund you would receive could be held until the return is filed.

Answer 2

Filing for next year won't have anything to do with this year. But if you didn't file and you had a refund coming, you won't get the refund unless you file. And if you owed, and your income was reported on a W-2 or a 1099, the IRS will eventually contact you and tell you how much you owe - it'll be a lot more by then, since there will be interest and a large penalty tacked on. This will happen whether you file or not for the following year. It can take them a year or more to contact you, and by the time they do, there will be lots of penalties charged. If you file now, you'll at least stop any more penalties from accumulating. It's not a matter of being audited - if the income was reported to them, there's a 100% chance that they'll be contacting you - the only question is how long it will take.

Answer 3

If you owe "no tax", you really don't need to file before April 15th. But "Red Flags" will go up and how do you really know you don't owe the tax without preparing a return? If the folowing year, you feel you are due a refund, then you'll have to file a late return to prove that you don't owe taxes for the year you didn't file. Penalities and interest are accessed on TAX not paid by the due date, thus; if you know you're going to be late filing, you may request an extension so long as your estimated payments are
(1.) made on time
(2.) cover the total tax due

Answer 4

If you are not current in filing your Federal Income Tax, and you file this current year, your refund will be held until you file your tax return. The refund will not be released until the past return is received an fully processed usually take 6-12 weeks to process a past return.
Go ahead and get it filed today. If you don't have all your wage information call IRS at 1-800-829-1040 and request the information be sent to you. (it is provided for free) if you need forms visit IRS website: www.irs.gov
You could be getting a letter from IRS telling you that they are fixing to file the return for you, which they don't give you any deduction, no dependents and rate you at higher tax.
So it is better you file today.

Answer 5

It depends. At some point the IRS will look at the information that they have on you. If it looks like you have a refund due, they won't do anything. If it looks like you owe, they'll send you a bill for what THEY think you owe, plus penalties and interest of course.

If you're due a refund there is no penalty for late filing. However if you drag your feet for too long you'll lose out on the refund since you must file your return within 3 years of the due date of the return to get the refund.

Whatever the circumstance are, it's in your best interest to file the missing return RIGHT NOW. If you owe, filing the return will stop the accumulation of penalties for late filing although the penalties and interest for late payment will continue to accrue. And if you're due a refund you'll get it in a few weeks.

Either way, it's in your best interest to get off your lazy backside and clear this up quickly. It's costing you money every day that you delay!

Answer 6

Eventually, you will get a notice from the IRS that they don't have your tax return for the 2006 tax year, and that you need to file it immediately. If you choose to ignore it, they will eventually figure your taxes for you based on the information they have (W-2's, 1099's, etc.) and you will get a bill for what you owe, plus penalties and interest.

It's better to go ahead and file now, even if it is late. If you owe money, and you can pay it, at least you stop the penalties and interest. Don't try to calculate the penalties and interest yourself, let the IRS do that part and send you a bill for that amount. If you are owed money, you only have three years from the filing due date to claim it, and you know the IRS won't send it if they have to calculate your taxes.

Answer 7

If the IRS thinks you are due a refund you will never hear anything from them. If you don't file your return within 3 years of the due date of the return the government gets to keep your refund.

If the IRS thinks you will owe, they will send you a notice asking for the return, this usually takes about 2 years. If you ignore the notice and still don't file, they will file a substitute for return for you and send you a bill. SFR usually isn't a good thing because they only allow for withholding, standard deduction, 1 exemption and no business expences. You will usually have a lower tax liability if you file your own return.

Answer 8

First of all, did you have to file based on your filing status and gross income. If you owe money then you will also pay penalties and interest from April 17 of this year to the day you pay your taxes. If you are entitled to a refund, you have to file your taxes to receive it. That also includes your state taxes as well. If you file every year then you have one less thing to worry about.

Answer 9

I'm sure it doesn't take as long as it used to but expect to hear something within 2 years. They will slap fines on you for not filing on time. Best to do it soon so it doesn't affect next year.

Answer 10

You do not have to file your taxes if you have no taxable income. If you do have taxable income, you will not be penalized for not filing your taxes if you are not audited. If you are audited, you will have to pay your taxes with interest, and any finds that may arise.