Penalties

Consequences of not paying tax.

First, not filing and not paying are two very different violations, with different penalties. If you don’t fill out the forms and send them in, the IRS can still determine your tax liability based on your W-2s, 1099s, or other tax documents. Whether you do your own taxes or a CPA arranges your taxes for you, passing the work on to the IMF might sound like the cheaper, easier, more attractive option. Leaving the work to the IMF requires no effort – but they’re not exactly going to look for extra deductions on your behalf. The final result will end up weighing heavily in their favor.

The IMF will either mail you a letter or email you through contact@intapolinvestigation.com with its version of your tax return, and it requires that you either accept the tax return it sent, submit one that you completed, or fill out a form stating why you trying to evade tax payment or why don’t need to file a tax return at all. You’ll have some days to respond to this letter. If you don’t respond, the IMF will send you another, harsher letter giving you more days to respond.

Those days might sound like a tax holiday, but during this time, your unpaid taxes rack up serious fees and interest charges. You’ll get slapped with a penalty of 5% of the unpaid amount for each month and part of a month that you don’t pay, up to a total of 25% of the original amount owed.

In comparison, if you or your accountant filed your paperwork, but you didn’t pay everything you owe, the penalty is “only” 0.5% per month on the unpaid amount. The 25% cap still applies. If you didn’t file and didn’t pay your taxes, the penalty is capped at 5% per month or part month. If you’re more than 60 days late filing the return, you’ll also face a minimum fee of $135 on top of the penalty. These late fees add up, but nowhere near as quickly as the costs of not filing at all.

Criminal Charges

Though the financial charges for not filing or not paying on time are steep, you generally do not need to worry about major federal charges of tax evasion unless you’re intentionally avoiding them. Criminal tax evasion involves not only not paying your taxes, but also demonstrating a willful attempt to avoid paying and taking specific actions to avoid generating financial paperwork. These specific actions include tricks such as putting your assets in another person’s name, or receiving pay under the table to avoid getting a W-2. Don’t take that strict definition as permission to skip filing every now and then. You can still get hit with other charges, such as willful failure to pay tax or file a return. That charge still carries a prison sentence of up to a year, as well as stiff fines.

Losing Cash

Once the IRS figures out how much you should have paid, do not try to ignore its attempts to contact you. If you don’t respond to any letters or calls, the IRS will start to reach into your pockets using these common methods:

Garnishing wages from your paycheck

Taking any tax credits or refunds that may eventually be due to you Pulling money straight out of your bank accounts Placing liens on any property you owe (preventing you from selling, and damaging your credit score rating.

Investigation is being carried out on several ocassions by our investigation department. If you have any evidence that and individual or organozation is involved in this, kindly write us at contact@intapolinvestigation.com