Who dares miss filing their tax returns? For most people they file pretty quickly and avoid trouble knocking at their door when it comes tax time but there are still thousands who really don’t think much about these things. Now, it’s a bit different if you have worked casually or for a few months in the year but, of course you still need to double check if you’re eligible for submitting a return. However, for those who earn tens of thousands of dollars (or even hundreds of thousands of dollars per year) and don’t file, they really might end up in a lot of trouble. Read on to find just a few of the consequences of not filing tax returns.
You Can Be Fined For Not Filing
First and foremost you need to be aware that if you fail to file, you can face a fine. Now, if you file late, there is usually a small fee but if you fail to file entirely and you are catch the IRS can put a hefty fine upon your shoulders. A tax return doesn’t really take too long to complete but, of course, a lot of people have long drawn-out information they need to submit and end up avoiding it completely. It isn’t wise to do and certainly it’s a problem. If you file late, it’s going to cause some trouble but if you don’t and this is a constant thing for several years, it’s going to bring heavier fines. That is why you must file. Of course, it’s good to know the consequences so that you have the sense to file!
You Can Be Taken To Court
For those who constantly fail to file their taxes, they can actually be arrested and taken to court. The charges can be anything such as tax avoidance and it’s a serious matter to say the least. You can be taken to court and go through a lengthy court battle. However, just because you haven’t filed your tax returns, it doesn’t mean to say you won’t have to pay anything. You could face serious charges and might even do some serious jail time too, especially if you didn’t file your returns. You might not think about this now but sooner or later the IRS will catch up with you and when that happens, it won’t be pleasant.
Do You Really Dare Not Filing?
While you might think it won’t hurt to miss one year of tax filings, it’s not a good idea. Even if you haven’t earned a lot of money you still need to file unless you have specifically got permission not to. A lot of people who earn under a certain amount may not have to file but again, you need to double check. Filing a tax return can be highly important even when you feel it’s not necessary. If you don’t file you can end up getting into a lot of trouble and really it’s not a wise move to make.
File and Avoid Trouble at Your Door
If you do not file on time or at all, you could end up facing a lengthy legal battle and really it’s not going to be pleasant for anyone involved. It has become a must to file returns on time and for your sake, do it! You will have a lot of trouble at your door if you don’t file and it’s not worth it. File your tax returns on time and without delay today.
Check out http://www.taxreturn247.com.au for more informations and help.