failure to file taxes
i have not filed taxes since 2002. most of the years i havent made that much but a couple i have. once i made about 12000 and the other about 14000. whats the most that ould happen to me?
1 Answer from Attorneys
Re: failure to file taxes
At most, you have a collection problem with the IRS. Non-filing is an aspect of a criminal tax problem, but the IRS is usually looking for additional issues like cash dealing, hiding assets and high profile. Yours should be a civil non-filing and non-payment issue.
The returns would need to be prepared and filed to bring you current in the system. In most cases, by internal IRS procedures, the past six years of flings brings you current.
Depending on your deductions, you will probably owe about 20% of your income to the IRS in taxes. Double that to arrive at what you will owe with interest and penalties.
Solutions to any balances due include installment agreements, offer in compromise, and the IRS will even write-off some debts as bad if it can be shown the collection would be a hardship to you.
Howard Levy
Voorhees & Levy LLC
Cincinnati, Ohio
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