What Happens If You Don’t File Taxes for Several Years?
Have you fallen behind on filing your taxes?Maybe one year turned into two… then three. Life got busy. Finances got tight. Or maybe you were afraid of what you might owe.If that sounds familiar, you’re not alone.Every year, thousands of individuals in Dallas, Cleburne, and across Texas delay filing their tax returns. But what actually happens when you don’t file taxes for several years? And more importantly, what can you do about it now?Let’s walk through it step by step.First Question: Why Haven’t You Filed?Before we talk about penalties and IRS consequences, let’s pause.Was it because:You couldn’t afford to pay what you owed?You were self-employed and unsure how to file.You lost paperwork?Were you afraid of IRS penalties?You thought if you ignored it, it would go away?Here’s something important to understand: not filing is usually worse than not paying.Many people assume that if they can’t afford the payment, they shouldn’t file.…