What Happen When You Don't File Taxes? | Nationwide Tax Consulting

Trying to escape from paying income tax? Well, It’s not going to work because IRS will do everything to get back taxes and they will get at any cost. Not filing taxes on time could cost you a lot as IRS will charge 5% of the owed taxes if they are not filed on the given date?

If you can’t pay them, file the taxes because for failure to pay IRS only charge 0.5% of the owed tax amount. If you are thinking not to pay taxes, I must say it is the worst thought you will ever have because there is no way to run IRS.

If you have genuine reasons that define your financial situation doesn’t allow you to pay taxes, file with the help of a professional company such as Nationwide Tax Consulting and tell your financial condition to IRS. There are ways to negotiate like:
  1. Offer in Compromise
  2. Extension
  3. Installment Agreement

IRS can reduce your taxes to a lower amount that you can pay, or they can give you more time to settle your debts. Or depending on your eligibility they can proceed with installment agreement so you can comfortably pay your taxes.

IRS will understand your problem and can negotiate in possible ways, present your file professionally, and I would recommend you to use a professional or a tax resolution company. Even a professional, can save you a lot of money while filing taxes properly. A professional will prevent errors while filing forms, will attach all necessary docs.

Remember, filing is must, instead of paying as failure to file penalty will charge 5% of the owed tax amount, and the IRS will not let you run away with taxes. Do things in the right, file your taxes, show financial condition, and negotiate in possible ways.

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