Not filing federal tax returns is often the result of tax fraud. Each unfiled tax return can result in a one-year jail sentence and a $25,000 fine. The IRS could send a taxpayer to jail for up to 5 years. The IRS has gotten aggressive in recent years in their pursuit of tax cheats. The 7 worst results of not filing IRS tax returns are, Incur a 25% Penalty, incur added penalties, increases tax dues, delay in tax relief, lose tax refund forever and the 10 years of IRS collection statues. For more information read @ http://goo.gl/XQ2zFr

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The 7 Worst Results of Not Filing Tax Returns
Visit @ www.longislandtaxresolution.com

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1) You Will Go to Jail
• Not filing federal tax returns is consider as a tax fraud.
• Unfiled tax return can result in a one-year jail sentence and a
$25,000 fine.
• The IRS could send a taxpayer to jail for up to 5 years for a
single tax felony offense.

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2) Incur a 25% Penalty
• Harshest yet common IRS penalties is the failure-to-file penalty.
• The failure-to-file penalty begins the day after April 16th or
October 15th.
• The penalty is 5% a month for a maximum of 5 months.
• The ceiling is 25% of the tax debt.

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3) Incur Added Penalties
• IRS has 140 penalties to use against taxpayers.
• Failure-to pay-penalty of 5% a month and combines it with the
failure-to file-penalty to reach a 25% ceiling.
• IRS charges interest on the combined amount of back taxes owed
and penalties.

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4) Increase Taxes Due
• IRS may file a “Substitute for Return” if a taxpayer does not file
tax return in time.
• IRS filed tax returns always favor the government and never
favor the taxpayer.
• The taxpayer receives one standard deduction and one personal
exemption.

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• The “Substitute for Return” does not include added standard
deductions, personal exemptions.
• Other deductions and tax credits that may be due a taxpayer.
• The taxpayer to have a larger tax liability and greater interest on
the tax due plus penalties.

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5) Delay Tax Relief
• IRS will not resolve a tax problem until taxpayer files all
delinquent tax returns.
• Filing unfiled tax returns quickly reduces the penalties and
interest the taxpayer will owe.

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6) Lose Tax Refund Forever
• Never too late to file a tax return.
• To claim a refund, the taxpayer has only 3 years from the original
due date of the tax return to file.
• Once past this 3 year deadline, the taxpayer can only use the
refund toward back taxes owed.
• The taxpayer cannot receive the refund.

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7) The 10 Year IRS Collection Statute
• IRS has 10 years from the date it finalizes the tax liability to
collect the taxes owed.
• The 10 year collection clock begins ticking on the date of tax
return filing.

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• Delayed tax return filings only delay the start date of the 10 year
period.
• IRS calls the last day of this 10 year period the “Collection
Statute Expiration Date”.

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