What If I Haven T Filed Taxes In Years

I haven t filed taxes in over 10 years.

What if i haven t filed taxes in years. If you owed taxes for the years you haven t filed the irs has not forgotten. If you need help check our website. On the other side of things if you re the one who owes money things can get very ugly very fast. If you haven t filed your taxes in years here s what you need to know.

File your taxes using the necessary forms. If the irs thinks you may owe for these tax years you may have received one or more notices from the irs by now. The clock is ticking on your chance to claim your refund. If the irs owes you money there s no penalty for filing your taxes late.

But let s be real here. You haven t filed your federal income tax return for this year or previous years. I don t own a home i have no investments. For each return that is more than 60 days past its due date they will assess a 135 minimum failure to file penalty.

Regardless of your reason for not filing a required return file your tax return as soon as possible. The failure to file penalty also known as the delinquency penalty runs at a severe rate of 5 up to a maximum rate of 25 per month or partial. My income is modest and i will likely receive a small refund for 2019 when i file. If you know you re getting money back from the government you re going to get that paperwork done and delivered.

Haven t filed taxes in 2 years if you are due a refund. We have tools and resources available such as the interactive tax assistant ita and faqs.