what happens if you dont file income tax
If you owe the government money, you'll have to pay it, plus interest and fines. If you owe money and don't file, the IRS charges a penalty of up to 25 percent of what you owe, and it can charge an additional 25 percent for failing to pay your bill on time.A 75 percent penalty is reserved for egregiously fraudulent returns, IRS guidelines say.f you owe money and don't file, the IRS charges a penalty of up to 25 percent of what you owe, and it can charge an additional 25 percent for failing to pay your bill on time.