What will happen if I don't file my federal taxes?

Getting back to blogging after a very long break, I noticed a question from Mike from Los Angeles, Calif. that seems to be a very common one. His question was, "What will happen if I don't file my federal taxes?"

Mike and everyone else - individual taxpayers/earners must file a return and pay their taxes owed no later than April 15. This is the law. There is no way around it and if anyone tells you otherwise (about conspiracies, Constitutional loopholes, etc.) they are incorrect.

If your taxes aren't paid or a filing is submitted late, it is subject to late fees and tax penalties. Taxes that are severely delinquent are indeed subject to enforcement action by the IRS, including wage garnishment, a federal tax lien or levy on property until the taxes are paid. If you can't afford to pay all your taxes at once, the IRS will even consider setting you up on a payment plan that is more manageable (although you may be charged interest or other penalties).

Folks, just be sure to file a tax return each year. This is a sure way to remain on the good side of the law. I know this was a pretty obvious fact to most of us. But it's always good to remind folks who may be filing for the first time or are considering not filing for whatever reason.