When tax time rolls around each year, many people in North Carolina get excited because they will receive a nice return. However, there are just as many people, if not more, who dread it because they have to pay taxes. If you one of those who has to pay, it can be a trying time. Coming up with the money you owe is not always easy and can hit your bank account hard. So, you may wonder what will happen if you do not pay your taxes. Is it a crime?
CNBC explains that at first when you miss the deadline to pay your taxes, the IRS will simply remind you of your error. You will get notices by mail that you need to file your taxes and pay your tax bill. You will also face some hefty fines and fees for not paying on time.
If too much time goes by, the IRS may file your taxes for you. You will miss out on dedications this way, but you cannot do anything about it and will owe what they calculated. Furthermore, the IRS keeps adding on fines and penalties for not paying.
You should note that you cannot ignore a tax bill. You cannot get rid of it in any way except paying for it. If you ignore the IRS, it may seize your assets to pay for the debt or put a lien on your property. In a severe situation, you may face criminal charges for tax evasion. So, the answer to the question of whether not paying taxes is a crime or not is yes, it can be a crime with real criminal charges. This information is for education and is not legal advice.