2023-06-02 07:09
Failing to file tax returns regularly may result in various penalties and consequences. Firstly, it could lead to the imposition of fines and interest charges on the unpaid tax amounts. Secondly, the Internal Revenue Service (IRS) may start collection proceedings against the delinquent taxpayer, such as wage garnishment, bank levies, or property seizures. Thirdly, non-compliance with tax reporting requirements could result in criminal charges or imprisonment. In addition to the monetary penalties, failure to file tax returns could also negatively impact an individual's credit score, hindering their ability to obtain credit or even employment. Therefore, it is crucial to keep up with tax filing obligations to avoid these potential consequences.
Release time 2023 06 02
Release time 2023 06 02