Failure to file a tax return is a federal crime that may result in a misdemeanor or a felony charge depending on the circumstances. This may result in the loss of valuable financial assets, as well as fines and imprisonment. There are many ways for a person to become current on their taxes and avoid severe consequences, as long as there is no fraudulent activity involved. The right attorney can help you figure out which taxes forms are missing, which forms the IRS has, and which statute of limitations are applicable.
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