Unfiled Tax Returns
April 1st is a dreaded day for any taxpayer. Just half of all taxpayers manage to prepare their tax returns and file them with the IRS prior to the deadline. The rest usually follow with a couple of weeks delay. Weeks sometimes turn into months and even years. The agency estimates that 10% don’t file their tax returns at all, though the real figures are much higher.
Of course, it’s a crime not to file your returns if you owe taxes to the government. Depending on the case, non-filers can pay interest on their due taxes, incur financial penalties proportional to the taxes owed and even serve jail time for severe tax evasion.