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Lv 6
? asked in Business & FinanceTaxesUnited States · 5 years ago

What if you haven't paid taxes in years? What could IRS do? They've written, but, not followed through. What's your advice?

7 Answers

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  • tro
    Lv 7
    5 years ago

    no one here is in a position to give you advice

    but consider this, if you have been notified by IRS and you have chosen to ignore those notices, one thing is a lien on your bank account, another thing is they can prepare a return for you for the year or years you have failed to prepare and you will not like these returns, and of course this will probably just make your obligation larger, then there is also the possibility they can seize any assets you have, if you are fortunate to own a house, depending on your tax obligation, say goodbye to the house

  • Anonymous
    5 years ago

    They could take almost everything you own, and if that didn't pay off what you owed, they could garnish your wages from now till doomsday. Not to mention throwing you in jail under certain circumstances. You're awsomely fcuked. Get a lawyer now (while you still have the money to pay him).

  • Judy
    Lv 7
    5 years ago

    Pay what you owe. They'll get you eventally, and in the meantime it's accumulatng interest and penalties.

    What could they do? Levy your wages and any bank account, and start taking your stuff.

  • 5 years ago

    You must not be big enough to come to the top of the stack. If you get to $10,000 IRS will file a lien that will torpedo your credit rating and make it difficult or impossible to get credit.

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  • 5 years ago

    if you have refunds coming, you LOSE teh refunds PERMANENTLY if you do not file within 3 years - if you owe taxes, you now owe 25% penalty for each year PLUS interest and they can garnish your wages, take money from your bank acct, intercept future refunds

  • Anonymous
    5 years ago

    So....when you go to retire, you SSA check will shrink by 15% to pay off your debts.

  • 5 years ago

    They can do the returns for you eventually and then seize assets to pay the tax.

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