answersLogoWhite

0

Do you have to file your taxes?

Updated: 8/17/2019
User Avatar

Wiki User

9y ago

Best Answer

Obviously, as no one LIKES to file and pay, the well established system is fairly adept at catching those that don't...it has been thought of before! The receipt of a W-2 makes little difference to having to file. All income is presumed taxable and certainly many people who don't work as employees, are retired, self employed, just rich, have investment income, etc etc have to file tax, yet don't get a W-2. The consequences of not filing are many fold and type: First it is the law to do so and there are lots of people in jail for not doing so. Not doing so immediately incurs an additional and substantial penalty and interest charges when the failure comes to light. The tax will always be due, and all the bad things that can happen continue, as the statute of limitations doesn't start to run until a return is filed. You will probably be subject to audit, even intense audits, much more regularly. When you want or need to claim a government benefit, it may become very difficult or impossible. Finally, experience has shown that a great majority of the time those people who fail to file actually had a refund coming had they done so! They just outsmarted themselves without understanding the system.

User Avatar

Wiki User

9y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you have to file your taxes?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Do you have to file taxes if you are a student?

If you are 21 you have to file taxes


Have no money how do I file my taxes?

have no money how can i file my taxes


Can you file your taxes at the DMV?

No, you cannot file your taxes at the DMV.


Can you file taxes if on walefare?

Yes you can file taxes if you are on welfare.


Can you file creditcards interest on your taxes?

can i file creditcards interest on my taxes


What is the best website to use to file taxes online?

The best website to file taxes is the IRS website. You can file your taxes for free on this site.


Can you file a business llc and personal taxes separately?

Do I have to file personal taxes if I own a small LLC? Or just file business taxes.


Can you file your taxes from 2008?

You can file up to 2 years back taxes.


Can managers file taxes?

Sure. If you have income, you are required to file income taxes.


If your license is still of Kentucky but you live in Tennessee what is your residency?

Tennessee. Your residency also bases on your taxes. when you file your taxes for Tennessee then your a resident there. If you file your taxes for Kentucky then your a reident in KentuxkyTennessee. Your residency also bases on your taxes. when you file your taxes for Tennessee then your a resident there. If you file your taxes for Kentucky then your a reident in Kentuxky


Minimum income to file taxes?

There is not a minimum income one must have in order to file taxes. Anyone can file taxes if they want.


What is the dollar amount you have to make to HAVE to file taxes?

How much money can you make and not have to file taxes?