What Happens If You Don’t File Taxes Or File Taxes Late?
September 8, 2023
If you owe taxes and you don’t file or you file late, the IRS and state tax revenues will most likely apply a penalty. These penalties are known as the late-filing penalty or the failure-to-file penalty. The penalty for not filing taxes is usually 5% of the tax owed for each month or part of…
Navigating The Financial And Legal Challenges Of Not Filing Taxes Or Filing Late
August 15, 2023
Meeting tax obligations is a responsibility for both individuals and businesses. However, situations can arise that cause delays or lapses in filing. Missing the deadline can trigger financial and legal repercussions that deeply impact your financial stability. The IRS takes action to enforce compliance when taxes go unfiled. Late Filing Penalties and Interest Accumulation: When…
Tax Evasion: What You Need to Know – Can The IRS Garnish Social Security?
February 6, 2023
Maybe it started innocently, and you had no idea that you were at risk of facing fraud with the IRS. Maybe you forgot to pay taxes for one year, and then that one year turned into several years. Now that much time has passed, the fees and penalties are adding up, and you cannot afford…