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What Are The Penalties For Failing To File Your Tax Return On Time?

The law imposes punishment through penalties in order to ensure that all tax-payers should obey the law by filing and paying taxes on time. This ever-continuing cycle runs year after year, and as known IRS collects taxes towards the welfare of the nation building exercise. So it is the responsibility of each citizen to respond towards filing and paying tax on time and should be one of their prime duties. Some of the penalties like failure-to-file- penalty....