Go Back

Are income taxes voluntary? Is not doing your taxes illegal?

Are income taxes voluntary? Is not doing your taxes illegal?

Income taxes are not voluntary in the United States. The federal government and most states have laws requiring taxpayers to file a tax return and pay taxes on their income. Failure to pay taxes or file a tax return can result in penalties, fines, and even criminal prosecution.

The Internal Revenue Service (IRS) is the federal agency responsible for administering the tax laws in the United States. The IRS requires taxpayers to file a tax return and pay taxes on their income, whether it’s from wages, self-employment, or other sources.

There are some exceptions to the general rule that income taxes are not voluntary. For example, taxpayers may be able to enter into an installment agreement with the IRS to pay their taxes over time or may be able to negotiate an offer in compromise to settle their tax debt for less than the full amount owed. However, these options are generally only available to taxpayers who are unable to pay their taxes in full and are not intended to allow taxpayers to avoid paying their taxes altogether.

In the United States, it is generally required by law to file a tax return and pay taxes on your income. Failure to file a tax return or pay taxes when required can result in penalties, fines, and even criminal prosecution.

The Internal Revenue Service (IRS) is the federal agency responsible for administering the tax laws in the United States. The IRS requires taxpayers to file a tax return and pay taxes on their income, whether it’s from wages, self-employment, or other sources.

There are some exceptions to the general rule that you must file a tax return and pay taxes. For example, if your income is below a certain level, you may not be required to file a tax return. However, even if you are not required to file a tax return, you may still be eligible for certain tax benefits, such as the earned income tax credit, and it may be in your best interest to file a return and claim these benefits.

If you are required to file a tax return and do not do so, you may be subject to penalties and fines. In addition, if you intentionally fail to file a tax return or pay taxes when required, you may be subject to criminal prosecution. It’s important to meet your tax obligations to avoid these consequences.
Prominent Financial Consultants offers a range of services to help our clients succeed, and we would love the opportunity to discuss how we can help you. If you would like to schedule an appointment with us, please schedule a free 15 Minute Financial Clarity Call so that we can learn more about your needs and goals.

You’re a click away from financial clarity book your call today.

During our 15 minute Financial Clarity Call, you’ll experience the clarity that comes with knowing your next step(s) when it comes to your financial goals. No matter what stage of life or business you’re in —our team will do whatever it takes to ensure you feel empowered. Best of all, it’s 100% free when you book today.

Book Financial Clarity Call