Yes, You Can Go to Jail for Not Paying Your Taxes. What To Do if You Can't Afford Your Bill

If you're not able to pay your tax bill by April 15, you can expect a letter from the IRS saying your taxes are overdue. A late tax payment can rack up interest and penalty fees, but it actually land you in jail? The short answer is yes. But it's rarely the first step the Internal Revenue Service takes to get its money. If you owe the IRS money, they'll give you the opportunity to address the issue before it escalates to this extreme. But there are legal consequences for tax evasion or continuously failing to pay your taxes on time can be consequential. I've been an accountant for over a decade and have helped many of my clients file their taxes. Here's what could happen if you don't pay your taxes and what to do if you can't afford to pay your tax bill. Read more: Is Your Tax Return Over $1,000? This Accountant Warns You Might Be Overpaying the IRS Tax evasion versus failing to pay your taxes Tax evasion is when you intentionally avoid paying taxes, often by underreporting income ... Read full article.