What to Know If You Don’t File Taxes

One thing that is certain about life is paying taxes. To pay taxes is vital but some people think that they can avoid it. However, if one does not pay taxes it matters to know what might come in his or her way. When you don’t pay taxes it is ideal to know the kind of the things to expect as you will discover here. The one thing that you need to know is that IRS will come knocking.

Your employer will inform the IRS that it has payed you which is not a thing that you need to experience. IRS will take action based on the fact that you owe some taxes to pay. If you don’t pay taxes on time you should expect to pay some penalties. To pay penalties it is not a thing that everyone will welcome in his or her life.

Knowing what to do incase you are facing penalties is vital and you can go through this website to learn more. Not only you will have to pay penalties but there are high chances of paying interest rates as well. If you go through this website you will learn some of the interest rates that IRS might bring on you.

For the penalties you will realize that it can take away your state tax refund. It might not be a surprise when you realize that the state has taken the tax refund from your account. It is ideal if you can view here if you suspect that your tax refund is going to offset your penalties. The other issue that you should expect with not paying taxes is that the federal agency will do what it takes to recover the balance from you.

You will find that the federal agency will do what it takes from the social security benefits and any other account that you might have. If you don’t pay taxes it is essential to know that there are many consequences that comes with it and if what would be ideal to avoid it if you can as you will learn through this article. If you’l have issues with the IRS it can be a big nightmare when it comes to penalties, interest rates and other issues that you can discover here.