Consequences For Not Paying Taxes
There are consequences for not paying taxes. When taxpayers are given the option of filing taxes with the IRS, many choose to ignore this option and wait for the due date to appear on their tax returns. Failing to pay taxes in full at the appropriate time will result in the taxpayer being charged a large fine. In addition, the penalties and interest can be substantial, enough to send many taxpayers into fits of panic. The best course of action when faced with these consequences is to consult with an experienced tax resolution specialist who can help you work out a payment plan with the IRS. The IRS is known by several names, including the Internal Revenue Service (IRS), the Government Accounting Professionals Association (GAP), and the National Taxpayer Association (NTA). In the United States, the terms bad tax debt or war tax resisters are often used interchangeably. However, although both groups share some similar tax advocacy goals, they are not identical. Tax debtors and war tax resisters are not necessarily one in the same. They are people who refuse to pay their taxes without any hope of receiving an offer in compromise from the government. The government does not accept their offer of compromise, however, and they face the possibility of jail time for their refusal to pay their taxes.
refusing to pay taxes and Consequences For Not Paying Taxes
When tax resisters do not pay taxes in full, they face serious consequences. The most obvious consequence that they face depends on the amount of taxes that they refuse to pay. Some consequences that they can face include possible fines, prison time, loss of their freedom, and other severe consequences. The severity of the penalty that a tax debtor faces is determined by the taxpayer’s criminal records, including any criminal convictions that may have occurred as a result of not paying their taxes. Furthermore, some other consequences that result from not paying taxes include credit damage, which may prevent the taxpayer from obtaining credit or other services from various sources in the future. In some cases, failing to pay taxes in full also results in loss of a driver’s license, in addition to other licenses that the individual may lose if they fail to pay their fines and taxes. A tax lien is another consequence for failure to pay taxes. A tax lien is the property interest that you may have against a property that you owe the Internal Revenue Service money for taxes owed. A tax lien becomes stronger when you have not paid your taxes for a year. Once you have filed all of your taxes and lien certificates with the Internal Revenue Service, you will no longer be required to pay the interest on the tax lien certificate and will no longer have ownership of the property.
The last consequence that you may face is an audit at some point in your life. An audit, sometimes called a post-audit review, is conducted within 90 days of the IRS receiving a completed application for federal income tax relief. If you were granted relief, then the audit is considered a failure and the audit review process simply occurs as part of the review. However, many people do not realize that an audit can happen at any time. There are two types of audits that you can experience. The first type is an actual audit by the agency agent or someone acting on behalf of the IRS, and the second type is a notice of audit sent by the IRS to an individual by First notified or through the mail. You can avoid most of these consequences for not paying your taxes by making sure that you pay all of your taxes when they are due. Make sure that you file all of your taxes on time and that you do not miss a single due date. It is very easy for people to forget that they owe taxes, and it only takes a few seconds for them to forget the due dates every year. When you forget to file your taxes, you will have to pay the penalty and interest unless the IRS can prove that you did not pay your taxes in full.