Haven’t Filed Taxes in a While? 5 Things You Need to Know

You may not owe taxes at the level of Wesley Snipes or Pamela Anderson, but failure to file a return or filing late can be costly. Here are 5 things you need to know if you haven’t filed lately. 1)     If taxes are owed, a delay in filing may result in penalty and interest charges that could increase the tax bill by 25 percent or more.  “Many delinquent taxpayers haven’t filed because they don’t have the money to pay, and then they’re socked with both the failure-to-file and failure-to-pay penalties,” said Alan Pinck, EA of A. Pinck and Associates of [...]