Did you know not filing a tax return on time every year is actually a crime? It’s punishable by a $10,000 fine for each year you did not file for. You can also be thrown in jail for up to a year.
Most people think it won’t happen to me. They try to just ignore it and it will go away. It won’t. The IRS is the most effective collection agencies on the planet. It’s the first step in solving your tax problem.
You cannot get any help from the IRS or any professional until your past returns are filed.
Many taxpayers are afraid to file because they don’t have the money to pay the tax owed. But did you know the IRS themselves often times file a Substitute for Return on your behalf?
These returns are usually for the benefit of the government not the taxpayer. The result is your tax liability may be exaggerated in what you owe in penalties or interest. The fact is you are eligible to file your past returns no matter how late they may be.