Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Be Patient

Be Patient - Your friend has just gone out and bought a state of the art computer with all the bells and whistles and after looking at your slowpoke old...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Not Filing Your Tax Return

What happens when you don't file your tax return? Not filing your tax return can only cause you trouble, stress and even more trouble. Every tax code has strict regulations that need to be followed. You, as a tax payer, must do your best to follow these regulations. The first step is to submit the appropriate items and submit them on time. If by any chance you miss the date to file your tax return, you are then automatically given a time limit in hopes that you will get it in. However if you do not, you will suffer the consequences of not filing your tax return. In this article let us discuss the consequences of not filing your tax return and the methods of contact you will receive upon not filing your tax return.

The consequences of not filing your tax return can be quite grave. The first aspect is criminal. You may be charged for tax evasion for another six years after the date on which your tax return date was. The next aspect is citizenship. Your citizenship and other civil penalties are at risk. This is of course varied upon how much tax you have evaded. You can expect that after six years you have still not been bothered about that one time you did not file your tax return they won't ever look for you again. It is a federal policy. However they are most likely to hunt you down within that time span of six years. In addition to the criminal charges mentioned afore, you may also be fined. The fine can range from $25,000 per year. In addition to this option, you may be sentenced to perhaps a year in prison.

If you have not filed your tax return and are in apprehension. Fear not for the agencies will contact you. First you are sent mail from the corresponding Service Center. Within a span of 16 weeks you will receive three written notices. Secondly, you will receive a phone call from a tax payer representative. At this point, the person will ground a final due date for you to file your tax return without any further consequences. If you are still unable to file, you will be visited by an officer or a revenue agent. At this point you will be given another stricter deadline. If this does not function, you will be visited by a special agent.

Discuss It!

best laptop under 500 said:

Our list of the best laptop in India for 2017 offers a good blend of performance and crucial features, at every price point.

showbox for iphone 7 said:

Showbox App gives you unlimited access to watch latest movies, tv shows on your mobile.

Share Market Training said:

Stock Market Training in Hyderabad- Find the best stock marketing investment classes, courses, institutes in Hyderabad and get share trading certification cost.

tp link router login said:

netgear router login

es file explorer for android
said:

ES File Explorer Apk: ways to manage the file and programs for your use is shown here with its Key Features and Specifications.download it for your device.

color switch said:

It is my first time I visit here. The way you create a website very thorough and good. This is very very impressive. I found so many entertaining stuff in your blog, especially its discussion. I will continually be coming on a regular basis you just read your posts.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day George Soros

Definition: George Soros is one of the top investors of the last couple decades.  He is largely known for his bet against the British pound, which resulted in a one-day profit of $1 billion. Advice: George Soros managed the Quantum Fund, a wildly-successful hedge fund, for nearly 30 years.  He rose...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com