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Response to Farmgirl1961 (Original post)

Sun Jan 22, 2017, 08:12 PM

4. Unfortunately, YOU can't just ignore your taxes. There are several reasons why you wouldn't want to

I'm going to assume you work for someone and aren't self-employed. That means taxes are WITHELD from your paycheck. The only way to get any of that money back a as refund is to file your tax return. Believe it or not, most people do get a refund. Then there's the punishment if you don't file. Assume you find that you owe $$ instead of getting refund. They WILL find you, sooner or later, and penalties start to accumulate from the day the return was due. The total penalty for failure to file and pay can eventually add up to 47.5% (22.5% late filing, 25% late payment) of the tax owed. Interest, compounded daily, is also charged on any unpaid tax from the due date of the return until the date of payment.

An accountant didn't file his taxes for 4 years and was sentenced to prison.

The Con DID file his taxes, he just made enough money to be able to take advantage of several quite profitable loop holes. We avg. Joes don't have any loop holes that we qualify for, unless you want to consider home mtg. interest and real estate taxes.

We can protest, call your reps & sens, but not paying taxes is not a good idea.

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