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Thursday, November 26, 2009

IRS Tax Returns Explained


If you earned above $3500 in 2008 or $3650 in 2009, you are obligated by law to file a USA tax return to the IRS at the end of the tax year. The US tax authorities are very strict and so you should always file a tax return to avoid any unnecessary problems with US visas in the future.

If you do not file your tax return civil penalties may be imposed. These can be a deducted refund or in cases when you owe the IRS – taxes you need to pay will be forever assessed with interest and penalties.

If you are a US resident criminal charges may be brought against you. Not filing a tax return is a criminal offense punishable by one year in prison for each unfiled year and a fine of $25000 each year.

If you need to pay taxes and you filed your tax return but did not pay them, there is no criminal penalty.

Therefore, filing an IRS tax return will most likely to get you money back and will avoid legal problems in the future with visas and penalties.
Preparing and filing a US tax return involves tedious work. Dealing with piles of complicated forms and documents is both confusing and time-consuming. To save this hassle, many people chose to get a tax refund company such as on their behalf. Please note that if you are a non-resident you are not allowed to e-file your tax return.
etsrefunds.org to file their US tax return

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