Puget Sound Tax Law Attorney Committed to Resolving Your Tax Situation
Washington Tax Law Firm Uses Technology to Handle Your Case
Each year, over 15 million income-generating households fail to file a federal tax return. If you failed to file a tax return and were required to, you could face still penalties, interest, and potential tax liens and tax levies by the IRS. Whether or not you need to file depends upon your age, income, and filing status for any particular year.
What Happens if You Don’t File a Tax Return?
Some of the more severe consequences for not filing a federal income tax return include:
Failure-to-file penalty of 5 percent per month, not to exceed 25 percent, on the unpaid balance Fine of up to $25,000 per unfiled tax return Jail time of up to one year
If you fail to file a return, the IRS will typically send you a letter or notice in the mail. If you do not respond, they may follow up with a phone call or letter advising that you have 30 days to get your return filed. If you fail to respond again, collection efforts may start, and in extreme cases you may receive a phone call or visit from an IRS agent.
Eventually if you do not complete a return, the IRS will file one for you, known as a Substitute Tax Return, or SFR, which may cause you to owe taxes instead of get a refund, or owe more taxes than you would have had you filed yourself and utilized all the appropriate deductions and tax credits.
Are you facing an IRS audit in Puget Sound? The tax attorneys at Lana Kurilova Rich PLLC can help offer solutions regarding back taxes and unfiled returns. Contact us online, or call (425) 289-0629 for an initial phone consultation today. Through the use of technology, your case can be handled entirely via phone, email, and videoconferencing. We provide solid legal representation, no matter where you live.
