There are certain things that may tempt a person into inaction after missing filing their tax returns. Fear of the Internal Revenue Service and a desire to not have to deal with the agency could potentially lead a person to decide to ignore the problem and just hope it goes away on its own. Or, a misconception that failing to file a tax return doesn’t have much in consequences could lead a person to think that taking action isn’t that important.
However, failing to promptly act after missing a filing deadline for one’s taxes can be very costly for a taxpayer, in many ways. The longer a person goes after a deadline without filing their taxes, the more time there is for serious consequences to build up in connection to the failure to file.
Among the consequences being accused of failing to file can lead to a person facing include:
- Impactful investigative actions and other actions by the IRS.
- Civil monetary penalties.
- In some severe circumstances, criminal charges.
So, when a person has ended up missing a tax filing deadline, whatever their reason for missing it, taking prompt action can be very important. Among the things it can be wise for a person in such a situation to promptly do is meet with an attorney skilled in tax matters. Such attorneys can help individuals facing or who could face allegations of failing to file with understanding what steps they can take to address the matter and can assist them with efforts to mitigate the potential consequences of their situation.