| l work so hard for our money that the thought of | | | | tax return is only $500, the penalty. |
| parting ways often makes us restless, yet | | | | Thanks to modern technologically we now have |
| everyone knows that our government was | | | | the option of filing our taxes faster than before. |
| designed to function with our tax paying dollars. | | | | The fastest way for you to file is electronically or |
| Many of us out there feel as though the only | | | | you may still prefer to file the old fashion way via |
| thing you can count on is death and taxes. Often | | | | the mail. Whether your return is complicated or |
| times we ask ourselves, "Would the government | | | | easy, both these methods will work. The primary |
| know if I didn't pay my taxes?" Yes, the Internal | | | | form for the income tax return is either the 1040 |
| Revenue Department is adamant that we all do | | | | NR or 1040 NR-EZ. The average time to process |
| our part to keep the country economically viable. | | | | an accurate tax return is between six and eight |
| Ever heard of Al Capone? The FBI tried for years | | | | weeks. Your tax return is due on April 15th. If the |
| to convict him of his many heinous crimes. Who | | | | income tax return is late (even one day), there is |
| finally got him and trotted him off to jail where he | | | | an automatic tax due of 25% of your tax return. |
| died? Yes, the IRS tried him for income tax | | | | If you know that you're going to be late, file an |
| evasion and put him in prison. Finally, one of the | | | | extension, taxpayers are granted an automatic |
| most notorious criminals of the Twentieth | | | | six month extension for filing an individual income |
| Century went to jail because he didn't pay his | | | | tax return. |
| taxes. Obviously, we all need to understand the | | | | Filing an e-turn can be very beneficial to you, |
| basics of Income taxes or we can join all of | | | | especially if you are waiting to receive money |
| those other criminals sitting in jail because they | | | | back from the government. If you should choose |
| thought they could beat the IRS. | | | | to e-file your tax return you then have the option |
| According to federal and most state laws, if you | | | | to use direct deposit, this allows you to receive |
| made some sort of an income last year, than you | | | | your return in as little as 10 days. Even if you do |
| must file an income tax return. Income tax | | | | not choose the direct deposit option, you will |
| returns are required regardless if you had income | | | | usually receive your tax refund in half the time by |
| tax withheld or not; while all businesses except | | | | e-filing. |
| partnerships must file an annual tax return. For | | | | Keep in mind that one of the most important |
| the individual, when determining whether you | | | | things when filing your federal or state tax return, |
| must file or not, the IRS takes into account your | | | | if filing by mail, is remembering to sign it. In some |
| income, filing status, and age. | | | | cases you may need to get a hold of your |
| We must understand that the requirement of | | | | previously filed tax return. You can obtain this |
| filing an income tax return is not voluntary, rather | | | | information in a written request to the IRS. |
| mandatory and extremely important. The Internal | | | | It is extremely important to file an income tax |
| Revenue Service has clearly stated out the | | | | return. There are several non-profit organizations |
| requirements for filing in the following codes | | | | with trained volunteers who provide basic income |
| §§ 6011(a), 6012(a), et | | | | tax return preparation and free tax counseling for |
| seq. If you fail to file an income tax return it is | | | | senior citizens. If you need help, contact the IRS |
| considered a Class A misdemeanor with a | | | | or a tax service. Tax returns leave no room for |
| maximum penalty of one year in jail and a $10000 | | | | mistake. |
| fine. While the penalty for filing a frivolous income | | | | |