What happens if you fail to pay your annual taxes

Asked by admin @ 12/10/2021 in Business viewed by 275 People

What happens if you fail to pay your annual taxes?

a.)you will simply have to pay some penalty fees
b.)you can file your return the next year
c.)you will have to pay penalty fees or face imprisonment, depending on the severity of nonpayment
d.)you will have to pay twice the amount of taxes the next year

Answered by admin @ 12/10/2021

The answer is: c.)you will have to pay penalty fees or face imprisonment, depending on the severity of nonpayment

The investigation this type of violation is overseen by an organizaton called Internal Revenue Service (IRS).

They had the right to see whether you are complying to the tax codes that they established. Penalty fees tend to be imposed if you involved in violation with typically small amount of money. If the violation involve large amount of money on the other hand, they could bring you to be tried on federal courts and could put you in jail.

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What happens if you fail to pay your annual taxes

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