It’s vital to understand that one of the things that are certain when it comes to life is payingithe things that you need to consider is paying taxes. To pay taxes is vital but some people think that they can avoid it. Though one can avoid paying taxes it is good to know the things that one can expect by not doing it. If you have been looking to learn what you can expect if you don’t file taxes here are some of the things that you should know. By not paying the taxes it would be good to know that you might have an encounter with the IRS.
It is good to know that an employer informs IRS when it pays an employee and this will be something that will make the authority to know you have been paid. IRS will take action based on the fact that you owe some taxes to pay. If you don’t pay taxes on time you should expect to pay some penalties. To pay penalties it is not a thing that everyone will welcome in his or her life.
There is a need to know what you can do if you have some penalties to pay and you can go through this site for more details. On top of paying penalties it is good to know that you will have to part with interest rates as well. If you look at the interest rates that you might have to pay it would be a good thing to go through this company’s site to learn more.
For the penalties you will realize that it can take away your state tax refund. It is common for the IRS to take tax refund from a person that has some issues with penalties. It is ideal if you can view here if you suspect that your tax refund is going to offset your penalties. By not paying taxes you will invite the federal agency to make some moves to all accounts that you have.
You can expect that if you don’t pay taxes at the right time there are ways that the federal agency can recover the same by going through all your accounts that you have. If you don’t pay taxes on time you will realize that there are many issues that you will get yourself into with the federal agency. Getting your taxes in order is good and it would be great to consider doing it at the right time to avoid penalties and IRS knocking at your door.