e all work so hard for other criminals sitting in jail
our money that the because they thought they could
thought of parting ways beat the IRS.
often makes us restless, yet According to federal and most
everyone knows that our state laws, if you made some sort
government was designed to of an income last year, than you
function with our tax paying must file an income tax return.
dollars. Many of us out there Income tax returns are required
feel as though the only thing you regardless if you had income tax
can count on is death and taxes. withheld or not; while all
Often times we ask ourselves, businesses except partnerships
"Would the government know if I must file an annual tax return.
didn't pay my taxes?" Yes, the For the individual, when
Internal Revenue Department is determining whether you must file
adamant that we all do our part or not, the IRS takes into
to keep the country economically account your income, filing
viable. Ever heard of Al Capone? status, and age.
The FBI tried for years to
We must understand that the
convict him of his many heinous requirement of filing an income
crimes. Who finally got him and tax return is not voluntary,
trotted him off to jail where he rather mandatory and extremely
died? Yes, the IRS tried him for important. The Internal Revenue
income tax evasion and put him in Service has clearly stated out
prison. Finally, one of the most the requirements for filing in
notorious criminals of the the following codes "§"§ 6011(a),
Twentieth Century went to jail 6012(a), et seq. If you fail to
because he didn't pay his taxes. file an income tax return it is
Obviously, we all need to considered a Class A misdemeanor
understand the basics of Income with a maximum penalty of one
taxes or we can join all of those year in jail and a $10000 fine.
While the penalty for filing a you are waiting to receive money
frivolous income tax return is back from the government. If you
only $500, the penalty. should choose to e-file your tax
Thanks to modern return you then have the option
technologically we now have the to use direct deposit, this
option of filing our taxes faster allows you to receive your return
than before. The fastest way for in as little as 10 days. Even if
you to file is electronically or you do not choose the direct
you may still prefer to file the deposit option, you will usually
old fashion way via the mail. receive your tax refund in half
Whether your return is the time by e-filing.
complicated or easy, both these
Keep in mind that one of the
methods will work. The primary most important things when filing
form for the income tax return is your federal or state tax return,
either the 1040 NR or 1040 NR-EZ. if filing by mail, is remembering
The average time to process an to sign it. In some cases you may
accurate tax return is between need to get a hold of your
six and eight weeks. Your tax previously filed tax return. You
return is due on April 15th. If can obtain this information in a
the income tax return is late written request to the IRS.
(even one day), there is an
It is extremely important to
automatic tax due of 25% of your file an income tax return. There
tax return. If you know that are several non-profit
you're going to be late, file an organizations with trained
extension, taxpayers are granted volunteers who provide basic
an automatic six month extension income tax return preparation and
for filing an individual income free tax counseling for senior
tax return.
citizens. If you need help,
Filing an e-turn can be very contact the IRS or a tax service.
beneficial to you, especially if Tax returns leave no room for
mistake.
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Article Tags: income, return, tax
