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Things to Know If One Does Not File Taxes

Paying the taxes is one of the things that are certain when it comes to life. Even though paying taxes is critical it is something that many people think that they can avoid. However, if one does not pay taxes it matters to know what might come in his or her way. 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. The one thing that you need to know is that IRS will come knocking.

Your employer will inform the IRS that it has payed you which is not a thing that you need to experience. With such information you can have some trouble with IRS which is something that you need to avoid as you can see here. Penalties are some of the things that you might need to pay when it comes to fauilure to pay taxes. To pay penalties it is not a thing that everyone will welcome in his or her life.

When it comes to paying penalties it is crucial to know what to do and here are some of the things that you should have a look at. On top of paying penalties it is good to know that you will have to part with interest rates as well. If you would want to know the interest rates that comes with penalties it is easier to know the same through this site.

When you need a state tax refund there is a possibility that you will not get its if you have some penalties. It might not be a surprise when you realize that the state has taken the tax refund from your account. It is ideal if you can view here if you suspect that your tax refund is going to offset your penalties. If you don’t pay taxes you can expect that the federal agency will do what it takes to recover money from your accounts.

You will find that the federal agency will do what it takes from the social security benefits and any other account that you might have. Not paying taxes is not an ideal thing to do because there are many issues that you can get 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.