The Common Queries About Unfiled Tax Returns
In our society, we may come across some people who are not paying their taxes and you may e surprised to know that they have been doing these for a very long time already. So what those who are not even scared that since birth they have never paid their government dues? So many wonder about what will be the statute of limitations for unfiled tax returns. If there are some crimes who have their existing statute of limitations then is it possible that our government will allow this similar limitations for people who have never paid their taxes ever since or to people who have paid their taxes before and then stop paying it. There are a few cases wherein the taxpayer files for bankruptcy but they still doubt about the amount they owe to the tax bureau. Spending some time in prison because they weren’t able to pay their tax revenues on times are just some of the reasons why people are afraid to file their tax returns.
Right after reading this article, you will be able to familiarize what you must know about taxes.
1. So what happens if I wasn’t able to pay for my taxes in so many years?
There would e no other options aside from paying once the tax bureau have an existing substitute filed return for you but in any case, hiring a tax return attorney can also make your payments negotiable.
Do I really to pay for my taxes or shall I file my tax revenue despite of the fact that I’ve been bankrupt and I don’t have enough money to pay for it?
If you fail to file your tax revenue then you can go to jail if discovered so you must really file it. There are some cases when this situation becomes a favorable factor in your life since you may e included under those taxpayers with Reasonable Collection Potential (RCP).
Will they release or renew my passport once they discover that I still have a few amount of money to be paid in the IRS?
Once you have an existing balance with the tax bureau, you can still get your passport however if did violate some of the rules of the IRS, they might have your passport cancelled. Just follow the rules and pay what you owe to the tax bureau first so that there will be no more existing violations and you can have your passport back.
So what are you waiting for?
Source: Tax Return