What happens if I don't file my taxes on time?

Question: What happens if I don't file my taxes on time?

If a significant amount of time passes since the tax deadline and you owe the IRS money it could potentially seize a portion of your wages until the debt is settled. If you are expecting a refund you risk losing the money the government owes you. Taxpayers must file within three years of the return due date or else they forfeit any cash the IRS owes them. The same rule applies to claim tax credits such as the earned income credit .

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