What if I don't pay my taxes?

DATE_PUBLISHED

If you file your taxes but don't pay them, the IRS will charge you a failure-to-pay penalty. Generally, the IRS will charge you 0.5 percent of your unpaid taxes for each month you don't pay, up to 25 percent. Interest also accrues on your unpaid taxes. The interest rate is equal to the federal short-term rate, plus 3 percent.

If payment continues to be ignored, the IRS can also come after your assets and resort to the following:

  1. File a notice of a federal tax lien (a claim to your property)
  2. Seize your property
  3. Make you forfeit your refund
  4. File charges for tax evasion
  5. Revoke your passport

Subscribe to Taxfyle Resources & Tax Tips

Get the latest posts delivered right to your inbox

Thank you for subscribing!
Oops! Something went wrong while submitting the form.
How Long Does the IRS have to audit my tax return?
Taxes 101: If You Don't Know Now You Know
We know that the burning question in the back of all of your minds is: How long does the IRS have to audit me?
3 Min Read
Everything You Need to Know About Filing Form 940
Taxes 101: If You Don't Know Now You Know
Why does your employer withhold taxes? Basics for employees and employers.
2 Min Read
How to File Taxes: A First Timer’s Guide
Taxes 101: If You Don't Know Now You Know
Let’s assume that you do need to file a tax return and that you’re planning to do it by the April 15 tax deadline. What you’re really...
5 Min Read

File simpler.

File smarter.

File with Taxfyle.