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IS THE IRS HUNTING FOR TAXPAYERS WHO DON’T FILE THEIR TAXES?

Did you know that approximately 50% of all taxpayers file their tax returns before April 1st of each year? The reason why is because most of these taxpayers are eager to get their yearly tax refund.

But what you probably don’t know is that more than approximately 10% of all taxpayers will not even bother filing their tax return with the IRS even though they’re legally required to do so. What this means is that millions of taxpayers are either illegally not filing their tax returns or are filing them beyond the filing date.

The number of nonfilers is on the rise and includes millions of taxpayers who are hoping they never get caught. However, in the new electronic age that we live in, the IRS has access to advanced technology like bots, artificial intelligence and a computerized Information Returns Program, making it almost impossible to stay
under the IRS radar for long.

The vast majority of taxpayers who don’t file their tax returns with the IRS or their state are intimidated by the tax system or are disenchanted with how it’s run. After all, many hard working taxpayers believe that the rich get all of the tax breaks which doesn’t seem fair to them.

Whatever your reason is for not filing a tax return with the IRS, you need to be aware that the IRS can pursue criminal and civil charges against you. The IRS can bring criminal charges against you within six years of the date the tax returns were due whereas the IRS has no deadline to file civil charges against you.

The IRS is currently hunting for nonfilers through their computerized Information Returns Program which matches up W-2 wage statements and 1099 income reports. If you have a job or are an independent contractor, earn investment income or sell real estate or stocks, the IRS knows about your income and will find you eventually. Even though the IRS is behind on processing tax returns,
they’ve hired more agents and officers so it’s only a matter of time before you hear from them.

Since the IRS has no tax amnesty program, when they do find you, the amount of money that you will owe in additional interest and penalties for not filing your tax returns will be significant. For your free no obligation consultation to learn how we can help you with your past due tax returns, call us today.