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Totally foolish! You receive 100% of your tax withholding as a credit as tax paid when filing the return. Withholding is NOT the amount of tax you owe however. That isn't determined until you complete the forms..and all those things like deductions, dependents, expenses are taken into account. If the amount you had withheld from pay, which is under your control, to pay the tax you actually determine due when completeing the return, is more than what is ultimately owed, it is all refunded. If it is too little, you must pay more with the return, and likely penalty and interest too on the underpayment. In almost all cases too much has been withheld and you get a refund by filing. Also, paid or not, filing is a legal requirement and not doing so against the law. Not filing leaves you perpetually open to audit and review of the period. Not filing means you won't get the benefits, like Social Security, Medicare, tax stimulus rebates, etc., etc you have both paid for and have a right to.

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16y ago

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