Have You Filed Your Taxes? Consequences Include Increased Financial Liability and Imprisonment

It’s tax day! I know people don’t file their tax returns for different reasons and in this economy, and many Americans may opt to not file because they don’t have the funds to pay the taxes owed.

If you can’t afford to pay your taxes, there are payment options for tax relief!

Additionally, what taxpayers may not know is that failure to file tax returns may be construed as a criminal act by the IRS, punishable by one year in jail and $10,000 for each year not filed.

The IRS may also prepare a “Substitute For Return” for them, in which they won’t be able to file for all of their personal exceptions or allowable deductions.  Because these returns are filed in the best interest of the government, the only deductions they’ll  usually see are  the standard deduction and one personal exemption, subjecting them to a larger tax liability.

So it’s important for individuals to file their 2008 tax return as well as any prior delinquent tax returns as soon as possible to save money and avoid significant long-term consequences.

It’s not too late to get the affordable and professional tax help!

** If you have unfiled tax returns or other IRS problems, contact our specialized staff of tax attorneys, CPAs, EAs and tax professionals. Visit the Tax Resolution Services web site  for a free tax relief consultation or call us at 866-IRS-PROBLEMS.

More Tax Help, IRS News and Tax Relief Tips:

  1. Melt Your IRS Fears Away - Tax Help if You Can’t Afford to Pay Your 2008 Taxes
  2. We’ve Expanded to Help More Taxpayers Resolve Their IRS Tax Problems!
  3. Options for Business Owners Struggling to Meet the April 15 Tax Deadline
  4. Last Minute Advice For Recession-Burdened Taxpayers Who Can’t Afford to Pay Taxes and Want to Avoid IRS Penalties
  5. KLOS Tax Tip #44: Individuals Get a Tax Break - But Get Tax Help if You Owe Back Taxes!

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This entry was posted on Wednesday, April 15th, 2009 at 1:09 pm and is filed under Tax news and tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Have You Filed Your Taxes? Consequences Include Increased Financial Liability and Imprisonment”

  1. There’s Still Hope if You Didn’t File Your Taxes: You Can Still Get Income Tax Relief and Avoid IRS Penalties | Tax Relief Tips from the Experts at Tax Resolution University Says:
    April 16th, 2009 at 3:10 pm

    [...] fail to file legally required tax returns by the April 15 deadline, which can lead to more significant financial problems in the long run including huge penalties and jail time. But it’s not too late for delinquent [...]

  2. In Bad Economoy, Tax Enforcement and Convictions of Tax Defiers Are on the Rise | Tax Relief Tips from the Experts at Tax Resolution University Says:
    April 17th, 2009 at 1:49 pm

    [...] though April 15 is behind us, it is important to keep in mind the consequences of not filing your tax returns. It’s not to late to file your delinquent [...]

  3. Ohio Man Did Not Report $2.4 Million in Income | Tax Relief Tips from the Experts at Tax Resolution University Says:
    April 20th, 2009 at 6:01 am

    [...] blogged about failing to file income taxes and, believe me, you do not want to feel the repercussions of failing to file your taxes!

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