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 » From: Shhhhhhhhh ... he doesn't want to be found Dear TaxMama: If you haven't filed taxes in 8 years, what can you do not to go to jail, but still find out what you owe? John Dear John, The only real way to determine how much you owe? Prepare the tax returns. Then file them. IRS will compute your penalties and interest for you. They can't know what you really owe until you do. And you can't commit tax fraud by not filing - only by filing a false return. So, don't worry about jail. Although, once your taxes are assessed, until you resolve the balance due, you may wish you were in jail...but only if you don't respond to notices. If you respond, IRS will work with you. If you don't, they'll attach wages, bank accounts, etc. And they will record a lien against your home and other assets so you won't be able to sell or refinance them without paying off the IRS. On the other hand, if you haven't filed for over 8 years, odds are, you couldn't get the credit to buy a home, anyway. Come on back into the system. Just reply with respect, and you'll be treated well and helped through the process. Best wishes, Eva Rosenberg Your TaxMama  |
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