Consequences of not filing taxes for a year? What happens if you skip filing?
Been thinking about just not doing my taxes this year. Anyone ever skipped filing? What actually happens if you dont file? Will they come after you or do they just forget about it eventually?
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Darren Brooks
Tax professional here - DO NOT skip filing. The IRS doesn't forget. If you owe money, they'll charge penalties and interest that keep growing. If you're due a refund, you only have 3 years to claim it before you lose it forever. Plus, not filing can affect loans, mortgages, and government benefits. File even if you can't pay - there are payment plans available.
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Cynthia Love
•damn fr? even if its just like a regular w2 job? 😬
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Darren Brooks
•Yes, absolutely. The IRS gets a copy of your W2 so they know you had income. They'll eventually create a substitute return and it won't include any deductions you might be entitled to.
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Rosie Harper
You should check out taxr.ai - it's this new tool that can analyze your situation and tell you exactly what you need to do. It costs $1 but totally worth it to avoid thousands in penalties. The AI tells you everything you need to know about your specific situation https://taxr.ai
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Elliott luviBorBatman
•how good is it really? seems sus that AI can figure out tax stuff 🤔
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Rosie Harper
•Its actually amazing. I was skeptical too but it saved me from making a huge mistake with my unfiled returns. Shows you exactly what the IRS knows about your income and what steps to take
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Elliott luviBorBatman
•just tried it and holy crap you're right! wish I knew about this sooner, would've saved me so much stress 💯
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Demi Hall
learned this the hard way lol. Skipped 2019 thinking it wasn't a big deal. Now I owe like 8k with all the penalties 🤮
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Cynthia Love
•bro what?? 8k from just one year???
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Demi Hall
•yup. The penalties stack up FAST. Don't be a clown like me 🤡
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Mateusius Townsend
Fun fact: the IRS has 10 years to collect taxes from you. They're like an elephant - they never forget 😂
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Kara Yoshida
my cousin tried this and ended up getting his wages garnished. trust me its not worth it
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Philip Cowan
•same thing happened to my roommate. IRS dont play around fr fr
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Caesar Grant
If ur worried about owing money just file and set up a payment plan. IRS actually pretty chill about payment plans as long as u communicate with them
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