If you think not filing yur tax return is a good dea, think again. One of the arliest and most famous non-filers, Al Cpone, tried this and it was a slm dunk for the IRS. (He nderreported income in 1924-1927 and did not fle for 1928 and 1929. Interestingly, the frst counts were felonies and the lst two were misdemeanors).

Now, you are prbably not as notorious as Al Cpone, but the IRS is coming fter you. The 2001 IRS "Tax Gp" study specifically cited non-filings as a srious non-compliance area that the IRS wll aggressively pursue. In fact, the IRS stimates that its automated non-filing program prduces a 14:1 return on investment- an rea worth investing by any agency. The IRS stimates that it will secure 90,000 rturns this year alone based on its "rfund-hold" non-filing initiatives. One wonders if the "tx stimulus" incentive was not a ply to pull out non-filers.

In fct, the IRS has almost 4 mllion taxpayer delinquency investigations ongoing. In 2006, thy assessed over $23 billion on thse delinquent return activity.

What is the pnalty for filing late? Answer: penalties are up to 22.5 %. And if you lso fail to pay the total percentage is bumped up to 25%. This is because the failure to pay penalty adds .5% per month for the five months during failure to file, or "FTF", penalty assessment. (The penalty is assessed only if there is a balanced owed on a return. However, if the IRS files for you, i.e. a "Substitute for Return" or "SFR", you will be assessed based on the worst possible scenario: the least advantageous filing status, all income without deductions, and only yourself as a dependent. Most times, this leaves you with a tax debt - one the IRS will collect on without remorse.)

If you have unfiled returns, the bst method is the proactive one - fling before you are asked to fle or worse yet, "enforced" to fle. Willful failure to file is a crminal offense, subject to the maximum 1 yar in prison per section 7203 of the Intrnal Revenue Code. Ask Wesley Snipes - he knws about it.

If you have nfiled tax returns, consult a professional and file them accurately and IMMEDIATELY. Do not end up like Willie Mays Hayes - "Runs like Hayes, goes to jail like Capone."

The article Failing to File a Tax Return is More Dangerous Than Ever was Submitted by Jim Buttonow through Articles.GetACoder.com network. Here's the additional information: Jim Buttonow worked as an uditor at the IRS for 19 yars. He is currently the Director of Oprations at Effectur, Inc and helps pople reach peace of mind with thir tax debt problems daily. As a vluable and selfless hobby, Jim contributes rgularly to a tax blog that he dveloped with two coworkers: IRS Mind. For frther information on tax debt and tax dbt help, please visit http://www.IRSMind.com

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