Questions About You Must Know the Answers To

Things to Know If One Does Not File Taxes

Paying the taxes is one of the things that are certain when it comes to life. Even though paying taxes is critical it is something that many people think that they can avoid. Though one can avoid paying taxes it is good to know the things that one can expect by not doing it. If you have been looking to learn what you can expect if you don’t file taxes here are some of the things that you should know. By not paying the taxes it would be good to know that you might have an encounter with the IRS.

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.

There is a need to know what you can do if you have some penalties to pay and you can go through this site for more details. 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.

When you need a state tax refund there is a possibility that you will not get its if you have some penalties. If you have some penalties that you might need to pay it is good to know that the state can take the tax refund to offset the balance. 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. Not paying taxes is not an ideal thing to do because there are many issues that you can get into with the federal agency. Getting your taxes in order is good and it would be great to consider doing it at the right time to avoid penalties and IRS knocking at your door.