What are the penalties for not filing your taxes?

Answer For a variety of reasons, even though it is obligatory, individuals sometimes do not file some or all of their taxes. As a result, there are penalties and repercussions that comes along with not fi... Read More »

Top Q&A For: What are the penalties for not filing your taxes

Penalties & Interest for Not Filing Your Self Employment Taxes?

The American tax system is pay-as-you-go. If you are self-employed and expect to owe more than $1,000 in taxes in addition to any taxes withheld during the year, you must file estimated tax payment... Read More »

California State Penalties for Non-Filing of Taxes?

Nobody enjoys paying taxes, but if you don't pay your income taxes, you'll find yourself in trouble. Each year, 16 million personal tax returns are filed in California that generate about $40 billi... Read More »

Penalties for Late Income Tax Filing for S Corporations?

The Internal Revenue Service requires S corporations to file a Form 1120S for income tax purposes. The return is due no later than the 15th of the third month after the corporation's tax year ends.... Read More »

Does the IRS Levy Fine Penalties for Not Filing a Return?

If your tax return is past due, the IRS will levy penalties and interest, according to the IRS website. If you don't file, the IRS will file a substitute return for you and will collect the taxes y... Read More »