With 163 million potential filers, 12 million individuals were “non-filers” during the previous IRS filing season. These statistics show a lot. Compared to previous years, when there were 8 million non-filers, this represents an increase. Previous years were more attractive 1040 to submit because of the availability of pandemic stimulus relief. 12 million may seem like a lot, but that is less than 7% of the required filers in the US!

If you are among the many non-filers that All Book Keeping And Taxes specializes in helping, here is a summary of the possible triggers that could lead you to us!

1. Substitute for Returns:The IRS may submit your returns without making any deductions, resulting in unnecessary tax obligations.
2. Passport Revoked: Your ability to renew your passport and keep its privileges could be blocked if you owe the U.S. over $50,000 in overdue taxes and unfilled
3. Criminal Agents in the Department of Justice:There’s little chance. However, it occurs because failing to file could be regarded as a possible crime.
4. Applications for FAFSA: Students who require student loans. It will have to be filed with one or more tax returns.
5. When purchasing a home, your lender will need to see your most recent two to six years’ worth of 1040s before considering you as a candidate.
6. Guilt, Fear, Worry:Concerns about not complying with taxes, among other things.