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Is it true that there are no legal penalties for not filing a return?
Wiki User
∙ 15y ago
26USC6012 requires anyone having more than a certain amount of income to file a tax return. 26USC7203 makes willful failure to file a return a crime punishable by up to a year in jail and/or a $25,000 fine. Neither of these laws carry any requirement that you owe money. It is extremely rare, but people have been successfully criminally prosecuted for failure to file even though they might owe no money. See Spies v. United States, 317 U.S. 492, 496 (1943); United States v. Wade, 585 F.2d 573, 574 (5th Cir. 1978).
Is the typical guy whose only source of income is a W-2 on which he had way too much tax withheld going to get prosecuted? No. Maybe if he gets arrested for something else like drugs, a tax charge might be piled onto his case. Or if he sends threatening letters to the IRS commissioner, they might take revenge. But not typically.
If you owe money or if the IRS later adjusts your return and you owe more money than was stated on your return, there will be a penalty of 5% per month or partial month until the return is paid, up to 25%. If the return is more than 60 days late, the minimum penalty is $100 or 100% of the balance due that should have been stated on your return, whichever is less.
Wiki User
∙ 15y ago
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