Million Dollars Lost From Unfiled Tax Returns
3:32 AM
There are a lot of people who are duty bound to pay taxes with unfilled tax returns for whatever reasons only known to them. Some are not able to file returns for they are not aware that they have this obligation to do so. Yet, ignorance of the law excuses no one from the Latin maxim "ignorantia legis non excusat". By virtue of this ruling, the IRS can still go after these non-paying citizens.
Having unfiled tax returns is the common problem among the business sector especially if there is no regular retainer to keep and do the tax return filing. Most of these people do not file or pay taxes for several reasons. One common reason is the insufficiency of documents at hand as their bases for filing. It does not also mean that they do not have the capacity to pay, and for this reason the Internal Revenue Service has all the reasons to go after them as they are legally bound.
There are instances when the employees do not know the specific entries that should be made and for this reason they prefer to keep the file rather than file a wrong return and incur uncalled for liability. This is very common when employers do not care to file collectively or in mass for their employees. In cases like these the employees who do not have any idea what to do with their unfiled returns, as in the case of employed individuals who have their W2s just do not file.
The number of unfiled returns corresponds to some million dollars for unpaid claims due to the government. As dutiful citizens who are qualified taxpayers they must be mindful of their duties and responsibilities. Payment of tax dues is a duty which binds every taxpayer as their part in recognition of certain enjoyment of rights and protection extended to them by State in general terms.
An agency of the government such as the IRS has been created to function as its assessor and collector of unpaid obligations. The taxes that taxpayers pay are necessary for the coffers that fill or add up to the State funds. You should bear in mind that taxes are important to the government's proprietary functions and it is no good reason to keep unfiled returns.
Having unfiled tax returns is the common problem among the business sector especially if there is no regular retainer to keep and do the tax return filing. Most of these people do not file or pay taxes for several reasons. One common reason is the insufficiency of documents at hand as their bases for filing. It does not also mean that they do not have the capacity to pay, and for this reason the Internal Revenue Service has all the reasons to go after them as they are legally bound.
There are instances when the employees do not know the specific entries that should be made and for this reason they prefer to keep the file rather than file a wrong return and incur uncalled for liability. This is very common when employers do not care to file collectively or in mass for their employees. In cases like these the employees who do not have any idea what to do with their unfiled returns, as in the case of employed individuals who have their W2s just do not file.
The number of unfiled returns corresponds to some million dollars for unpaid claims due to the government. As dutiful citizens who are qualified taxpayers they must be mindful of their duties and responsibilities. Payment of tax dues is a duty which binds every taxpayer as their part in recognition of certain enjoyment of rights and protection extended to them by State in general terms.
An agency of the government such as the IRS has been created to function as its assessor and collector of unpaid obligations. The taxes that taxpayers pay are necessary for the coffers that fill or add up to the State funds. You should bear in mind that taxes are important to the government's proprietary functions and it is no good reason to keep unfiled returns.
About the Author:
There are many individuals who fail to pay taxes for many, different reasons. One would be the incapacity to pay these taxes which the Internal Revenue Service considers unfiled tax returns. Certainly, you do not wish to be one of these individuals run after said office so visit MartelleLaw.org to know how you can avoid such situation.
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