what is the maximum penalty for not filing your taxes?
357603
Basically, anything that you own, to the extent of taxes, plus a 100% penalty, plus interest compounded daily.  In some cases where fraud is shown, then also prison time.
1165121
They will automatically take out 20% for income tax, plus a 10% penalty. Also you have to figure in your income tax bracket; ours is 28%
379956
You can go to jail for income tax evasion. Even if the government owes you money. If you knowingly did not file your taxes for the year 2004, you can be charged. If you owe money, you will pay that and penalities and intrest on what you owe. You need to contact a tax lawyer or just file anyway and get it over with.
719362
Not necessarily - there is an exclusion of $250,000 for single and $500,000 married filing jointly, assuming that you meet certain tests regarding use and occupancy. See the publication linked below.
294609
Don't file, unless they withhold taxes on ur paycheck.
38741
None.  You're you allowed to exempt up to 250k of the gain from taxes, if you're filing single or seperately.  And 500k if you're married filing jointly.
47976
yes, and you will want to do that as soon as possible. If you are getting a refund, there will not owe any penalties or fees. The big reason why you want to file them ASAP is because the IRS already has a list of all of your income. They get a copy of your W-2s when your employer sends you a copy so they know what you made. They do not know what your deductions are though, so in about 2 to 4 years they will send you a big fat bill for what they feel that you owe them (when actually they may owe you) Also if you do not file at all the IRS may assume that you are avoiding paying taxes and will likely audit you.\ngood luck\nBLU
30815
yes, though if you didn't files those years already, there may be penalties and late fees.
528430
If the request comes from the government you MUST withhold the funds and deposit it with the requesting agency as outlined in your periodical filings with the applicable agency.  The agencies vary from state to state, but not executing a goverment order puts you in a position of liability.\n\nIf you want to know exactly how much liability, I suggest you look up the regulations with that agency on the net, or call them and ask about the penalty.\n\nThis text was taken from the IRS link that is below (scroll half way down the page):\n-----------\nAmounts exempt from levy on wages, salary, and other income.   If you receive a Notice of Levy on Wages, Salary, and Other Income (Forms 668-W(c), or 668-W(c)(DO)), you must withhold amounts as described in the instructions for these forms. Publication 1494, Table for Figuring Amount Exempt From Levy on Wages, Salary, and Other Income (Forms 668-W(c), 668-W(c)(DO), and 668-W(ICS)) 2006, shows the exempt amount. If a levy issued in a prior year is still in effect and the taxpayer submits a new Statement of Exemptions and Filing Status, use the current year Publication 1494 to compute the exempt amount. \n-----------\n\nNotice the key words "you must withhold"...
415774
2006 taxes are not due until April 15Th, 2007, State and Federal. 2005 taxes are due by midnight tonight, unless you filed for an extension before the deadline, which was today. I believe you can go to jail for not filing your tax returns but in some cases, you can arrange payments of $ due with your local IRS. So, file or mail your returns on time even if you don't have all the $ you owe.
948547
It's important to pay your taxes on time, but if you don't the IRS will assess a late payment penalty of 1/2 of 1 percent per month, up to 25% of the amount of unpaid balance, plus interest per month which has ranged between 4% - 9% in the last few years.\n\nhttp://www.irs.gov/businesses/small/article/0,,id=108330,00.html\n\nPenalties and interest apply to years when money is owed.  If you get a refund next year, the IRS will withhold it, and apply it to your balance due.  You can contact the IRS and ask to see your tax account.  They will also send you an account statement showing your current balance owed, if you ask for it. \n\nThe interest charged by a bank or credit card is often lower than what is accruing on your account at the IRS.  It sometimes makes sense to borrow money from another source in order to pay off your balance owed to the IRS. \n\nThe same is generally true for state taxes as well.  Contact the Department of Taxation to see your state income tax account, and to request a statement.\n\nThe overtime you worked bumped you up into a higher tax bracket and increased your percentage owed.  If you couldn't pay your taxes because you had a family emergency, or other reasonable cause, the IRS has the ability to reduce the penalties they've assessed.  You must contact them by calling or writing to your taxpayer advocate listed on your Notice of Tax Due.\n\nhttp://www.irs.gov/individuals/article/0,,id=123423,00.html
450765
If you are going to get a refund, there are no penalties or interest assessed.  The IRS actually pays you a relatively low rate of interest on the money they owe you.\n\nIf, however, you owe money, then the interest and penalties build up rather quickly.  Failure to pay is equal to .5% of the balance due per month that you pay late, up to 25% of the total balance due.  Failure to file is either 4.5% or 5% of the balance, again up to 25% (a minimum of $100).  Then, on top of that, you must pay interest.\n\nRegardless of whether you owe or are due a refund, I would file Form 4868 online to give you an extension to file your return.  While this won't stop interest and failure to pay penalties, it will help you avoid failure to file penalties, and gives you 4 extra months to file.
96578
You will always have to file income taxes even if you do not owe our government money.  Sorry!
430078
By all means, at least make sure you send the tax return in, even if you don't put a check with it.  You don't want to be penalized for non-filing.  As soon as the state processes your return, they will send you a bill for the amount due.  Just remember, the longer you go without paying, the more interest and penalties add up!
779118
The minimum required to file taxes is your standard deduction plus your personal exemption amount. If you made more than that, you MUST file. If you made less and just want your money back that you paid in, then you can still file you're just not required to.
535514
US Taxes knows no boundaries. What's more interesting is that if you file a tax return, you have three years to collect your refund.  If you don't file or owe, they can go after you forever.\n\nFake ID carries it own penalties, but you still owe the tax.  As far as children in another country, you have to prove you provided for more that 50% of their support and the other spouse isn't claiming them on their return.  The code implies that the child must be in the usa.
375817
There will be penalties for failure to file / late filing, but there is unlikely to be any criminal consequence, unless you were intentionally hiding income or something.  Fortunately, those filing penalties reach maximums pretty quickly, and your refunds may be enough to cover them.  Like one respondent said, though, you're likely to be facing some more serious problems if you actually wind up owing taxes.  Don't panic, though; the IRS is usually rougher on businesses than on individuals, in my experience.  There are lots of ways to handle a tax debt, if it turns out that way, so do not ruin your life with worrying, okay?\n\nYou will probably want to get a CPA to do the old taxes for you, just because some CPAs (not all) will have kept the tax software around from years past for situations just like yours.  The CPA is going to need documents to try to re-create your finances from those years, though, so start gathering your bank statements and other records.  (You might have to ask the bank for copies of the old records, in which case they may charge you a fee for the trouble.)  I know some CPAs who specialize in this sort of thing, if you have no one else to turn to.\n\nRemember, for any situation you get in with the IRS, there's a good chance someone else owes 10x as much, has done 1/2 as much about it, and cares too little to even ask a question like yours.  Don't lose sleep over this or anything, just get started handling it.  And remember to file your taxes from now on!