IRS Delinquent Taxes Consequences

Terror of Delinquent Taxes

If you don't owe any tax, it is in your best interests to file. If you have delinquent taxes & don't file your federal tax return, serious consequences exists.

Delinquent Taxes

What are delinquent taxes?

Simply put, delinquent taxes relates to any amount of tax debt that is owed to the IRS.
When delinquent account is in existence, it indicates the due 
date for the tax form or any established liability owed remains unpaid. 
In the case of unpaid taxes, it is essential that you manage the problem as seriously and as quickly as possible, as it has huge consequences not paying your taxes.

What Are The Consequences of Delinquent Taxes if A Taxpayer Fails to Pay Them?

The consequences of delinquent taxes vary significantly depending upon the situation of the taxpayer. One of the biggest consideration factors is whether taxes have been filed. First and foremost, penalties and interest will accrue on top of the outstanding amount. The total penalty for having non filed and unpaid taxes is 10 times greater than having unpaid taxes alone.

The order of the process then progresses if you do not pay the amount or respond to letters or notices that your account has changed to delinquent. If taxes remain unpaid, the IRS and most states follow a standard collection procedure for most taxpayers that often ends with liens and levies.

If you have delinquent tax returns, the IRS will catch up to you soon.  A Revenue Agent can be assigned to your account and they’ll reach out to you in order to resolve the issue.

 

Wait, there is hope!

There are tax debt resolution options that can help you lift the bullseye target that has been placed on your back.

TheCPATaxProblemSolver specializes in an array of tax debt relief solutions that can resolve our customers tax problems.

UNDERSTANDING DELINQUENT TAXES

If taxes are not paid on time and far exceeds the original due date, they are classified as delinquent taxes. The IRS has the authority, jurisdiction, and power to collect all delinquent taxes by imposing penalties.

Here are some important facts about unpaid taxes you should keep in mind:

  • The IRS requires taxpayers to comply with their tax return filings before considering and accepting a tax debt resolution of their liability.
  • If a taxpayer fails to file a return, the IRS may prepare a substitute return for that person. If this happens, they will not entertain any deductions or dependents.
  • A taxpayer may face imprisonment if he or she fails to file a required tax return.

Speak to Keith Jones, CPA TheCPATaxProblemSolver about IRS Tax Debt Relief. Contact Us TODAY & Sleep Much Better TONIGHT!

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