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What happens if you do not pay taxes in the United States

People do not file tax returns for various reasons: severe divorce, death or illness of loved ones, and sometimes they just don’t want to, thinking that the United States Revenue Service (IRS) simply will not notice.

Photo: Shutterstock

Edition Bloomberg tells what happens if you decide not to file a declaration.

First, nothing happens

Each time a person receives a W-2 tax form 1099 or another, the IRS receives a copy, and their computers analyze who has not submitted the tax return. If you owe a refund, the IRS is not particularly worried about whether you will file your return documents. After 3 years, you will no longer be entitled to it.

The system marks the tax payer a checkbox if he owes money to the IRS. However, further action may take several years, says Jonathan Boches of Tax Defense Network. The IRS may be interested in you selling a property, borrowing or buying shares.

You probably won't go to jail

The IRS rarely sends those who evade taxes to jail. This is evidenced by Cindy Hockenberry of the National Association of Tax Specialists. All because of the fact that if you are put in jail, you will not be able to work, and the IRS will not be able to get the money owed to it from your salary.

A lot of paper work

When the IRS finds out that you owe money, it automatically generates a tax return for each year in arrears. Then the service sends you an invoice; if you do not respond quickly, the process of seizing your assets begins.
The IRS probably will not include all deductions to which you are entitled. Complicated tax issues can take more than a year, says Jerry Love, an accountant and financier.

You have to do much more than you thought.

If you owe the state money, you will have to pay it, not forgetting the interest and penalties. If you have not paid taxes, the IRS charges you up to 25% of what you owe, as well as an extra 25% for paying the bill on time.

In the end, the government will get the money.

There is a 3 way to solve the tax issue: pay taxes immediately, pay them in installments or somehow reduce the tax bill. Declaring yourself bankrupt can save you some tax arrears, and you can pay as much as you can.

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