It’s vital to understand that one of the things that are certain when it comes to life is payingithe things that you need to consider is paying taxes. To pay taxes is vital but some people think that they can avoid it. 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. One thing you should expect is that IRS will come knocking.
Your employer will inform the IRS that it has payed you which is not a thing that you need to experience. When there is such information you will note that the IRS will take action and you don’t want them to take such action as you will discover here. If you don’t pay taxes you will realize that there might be some penalties that you will have to pay. Penalties are not the best when it comes to your pockets because they can be painful to pay.
When it comes to paying penalties it is crucial to know what to do and here are some of the things that you should have a look at. On top of paying penalties it is good to know that you will have to part with interest rates as well. If you look at the interest rates that you might have to pay it would be a good thing to go through this company’s site to learn more.
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. When you have some penalties and you think that the state is going to take it for offsetting the balce it is ideal to view here. 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. If you don’t pay taxes on time you will realize that there are many issues that you will get yourself into with the federal agency. If you have issues with IRS it can be one of the things that would be good to avoid because there are many problems that comes with it and you can click here for more tips on how to avoid such problems.