Pull out your shoebox of receipts and clear your calendar. After being postponed from April due to the coronavirus pandemic, Tax Day is almost here — July 15.
But what happens if you don’t file your taxes? Will the IRS even notice?
Um, yes. Even if you don’t file, your boss, mortgage company and bank are reporting to the IRS with forms that contain your name and Social Security number.
Once the IRS catches up, the consequences can range from mildly annoying to your-life-will-never-be-the-same-again.
Following is a look at exactly what could happen if you fail to pay your taxes.