What happens if I did not file my tax return with the IRS on time

In addition to paying penalties, not filing your tax return will negatively affect your retirement, as well as could jam paperwork that has to do with a mortgage refinance or apply for federal aid

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Presenting your back tax return, regardless of whether you can pay the total or partial amount you owe, should not represent a problem. Overdue returns must be presented in the same way as a normal one.

It is important to note that for the presentation of this type of returns, they must be made in the same location where You filed your last tax return, since this serves as a reference for the Internal Revenue Service (IRS) .

Regardless of the reason why you delayed your tax obligation, You should file your tax return due as quickly as possible, especially to avoid penalties and interest that generate the delay .

In addition to this, you run the risk of lose your refund if you do not file the return . This, without a doubt, is a scenario that you are not recommended to enter at all.

The IRS has said that in certain cases, their records show that there is an obligation filing tax return, but the return has not been filed, so tax refunds are withheld .

This refund hold is given until overdue returns are received or a reason is known for which there is no obligation to file a return.

If you are self-employed and do not file your return, any amount of income will not be reported to Social Security and the amounts obtained will not be reported to your retirement or disability benefits.

Another negative aspect of not filing on time is that will affectin the approval of a loan that you request and it could be delayed if you do not file your tax return.

If you have debts or delays, fix it, since copies of the declaration for procedures in financial institutions , mortgage companies, lenders, to request the purchase or refinance of a house, request help federal.

If you cannot pay the taxes you owe, you can request from 60 a 120 additional days to pay your account in full through an online application to pay in installments, you can call 800 – 829 – 1040.

If you need more time to pay, you can request an installment agreement or you may qualify to request an offer in compromise. In any scenario you should approach the IRS to resolve the problem.

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