What To Do About Tax Returns Which Weren’t Filed Yet
In our society, we may come across some people who are not paying their taxes and you may e surprised to know that they have been doing these for a very long time already. So you may even consider it as an undesirable fact that until now, there are still people who have never paid the government about what they really have to pay? So many wonder about what will be the statute of limitations for unfiled tax returns. If there are some crimes who have their existing statute of limitations then is it possible that our government will allow this similar limitations for people who have never paid their taxes ever since or to people who have paid their taxes before and then stop paying it. In some events, those people who haven’t filed their tax returns was because of the fact that they are fully aware of the money that they have to pay just because they have filed for bankruptcy. Spending some time in prison because they weren’t able to pay their tax revenues on times are just some of the reasons why people are afraid to file their tax returns.
After reading this articles, you may find out that some of your questions regarding your taxes will be answered.
1. Supposedly, I didn’t file any tax returns for many years already, does it mean that I still have to pay for those years that I skipped?
Well if you have an existing substitute filed return (SFR), then you don’t have a choice but to pay for it otherwise you will be punished and in some cases wherein there’s no SFR filed against you you can hire some tax return lawyer to negotiate in your behalf.
What if I don’t have enough money to pay for my taxes then, can I skip paying it for now?
No other options but to file since if you don’t and when the IRS will know about it, you can be considered as a criminal and may spend more time in jail. There are some cases when this situation becomes a favorable factor in your life since you may e included under those taxpayers with Reasonable Collection Potential (RCP).
Is it still okay if I get a new passport or if I renew my existing passport despite of the fact that I still have to pay for my taxes?
There’s no such rule to prohibit you from getting your passport however your passport can be nullified once you made some questionable transactions with the tax bureau or you were not able to follow every rules. Just follow the rules and pay what you owe to the tax bureau first so that there will be no more existing violations and you can have your passport back.
So what are you waiting for?
Source: Tax Return