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Penalties along with interest on top will be applied to those who owe back taxes and this amount can be in the thousands of dollars. The definition of delinquent income taxes, per the IRS, is any tax return that is shows a US postmark that is after April 15th of that year, and this is if an extension was not requested.
After three years, the IRS will keep any return money that you were due. Once past that date, legally, the government is not required to pay any refund that is owed to you. And this goes for any amount, even if it is thousands of dollars. If you fail to file taxes, know that...
What if You don’t Pay your Taxes?
Posted by admin
on Nov 2nd, 2009 |
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Penalties along with interest on top will be applied to those who owe back taxes and this amount can be in the thousands of dollars. The definition of delinquent income taxes, per the IRS, is any tax return that is shows a US postmark that is after April 15th of that year, and this is if an extension was not requested.
After three years, the IRS will keep any return money that you were due. Once past that date, legally, the government is not required to pay any refund that is owed to you. And this goes for any amount, even if it is thousands of dollars. If you fail to file taxes, know that...
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