Failure to file income tax
I have not filed my income tax for the past four years. I receive investment income from a family partnership annually (15000.00). I got behind financially and ended up with a serious cash flow problem, which I am working to correct, though I am making slow progress. I also have not paid estimated taxes on the income. what I would like to know is how I should approach filing my taxes and what the probability of being criminally charged is. The whole situation just got out of control and I want to take steps to correct the problem but am afraid of prosecution and jail time. I also do not have the money to pay the taxes I owe up front or to make substantial installment payments and don't know how that would affect the consequences for me. I have not received any notification from the IRS since moving to a new address two years ago. I don't know if the IRS has filed any sort of criminal charges against me.
1 Answer from Attorneys
Re: Failure to file income tax
Without reviewing everything that's happened I can't tell you 100% for sure, but I can say that it's extremely unlikely you'd have to worry about criminal charges.
If you would like to "come clean" and stop worrying about it, you can get IRS to set up an installment payment plan for you, if you owe more taxes than you're able to pay.
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