0
Not filing your income taxes will have you facing a penalty by the IRS.
According to legal zoom:
"Well, you end up paying a penalty on the amount you owe at 5% per month (4.5 % for not filing and 0.5% for not paying). The total penalty for failure to file and pay can eventually add up to 47.5% (22.5% late filing, 25% late payment) of the tax owed. Interest, compounded daily, is also charged on any unpaid tax from the due date of the return until the date of payment"
http://www.legalzoom.com/taxes/personal-taxes/what-are-penalties
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What age are you exempt from filing Income Tax?
You are not exempt from filing for Income taxes based on age. You are exempt from filing taxes based on the income you receive. If your income is over a certain amount you must file.
What age do seniors stop filing her taxes?
This is a common misconception, but there is no age limit on taxes. If you have taxable income and high enough income to require filing you must file your taxes.
Can you file taxes if are pregnant and have not worked?
with no income what would you be filing taxes on
How old do you have to be to stop filing income taxes taxes?
There is no age limit for filing income taxes in the United States. The only time you do not have to file tax returns is if your income falls below the minimum amount requiring you to do so.
When filing for the state income taxes do you receive your federal income tax refund as well as your state income tax refund?
No, when filing for the state income taxes, you will receive your federal income tax refund as well as your state income tax refund.
Who is responsible for filing your income taxes after your death?
The Executor or the Administrator
Should I take an income tax course before filing my taxes?
It is recommended that an income tax course before filing your own taxes. Tax filing errors can be expensive and you should make sure you know what you are doing before attempting to file your own taxes.
What is the age limit for filing taxes?
Requirements to file taxes is not based on age but income. If your income is below a certain amount, you do not have to file.
When can you begin filing 2008 income taxes?
January 1st 2009
Do you have to add all income from different jobs when filing taxes?
yes
How can you find out if your husband is filing his taxes?
Your husband would have to be the one that would have to tell if he is filing his income taxes or show you his copy of the one that he is supposed to have filed.
What is minimum amount for filing Alabama state taxes?
what is the minimum income required to file taxes in alabama
