What If You Don’t File Taxes for One to 20 Years?
8 September, 2024 | Tax Debt Unfiled Tax returns
Summary The consequences of not filing taxes vary depending on the amount owed and the time elapsed since the last filing. Failure to file on time incurs penalties and interest, which increase over time. After three years, unclaimed refunds are forfeited, and the IRS can take collection actions, including liens and levies once there is an unpaid tax bill and a certain amount of time has passed. Filing back taxes involves gathering financial d... CONTINUE READING