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 »

What does filing child care on your taxes do for you?

The IRS allows a child care tax credit for working parents or legal guardians. To claim the credit, you must file using form 1040, 1040A or 1040NR and identify the care provider on your tax return,... Read More »

Does Filing Your Taxes Electronically Increase Your Chances of an IRS Audit?

The Internal Revenue Service may have an ulterior motive to promoting electronic tax filing: Electronic filing makes it easier for the IRS to audit your return. As of May 2011, nobody knows the rea... Read More »