I am a Painter and am self employed, I haven't paid my taxes in 3 years, will i be in Trouble, what do i do?

Question

I am scared to go to an accountant as I am worried I might go to Jail????

Answer 1

You won't go to jail but you will have high fines to pay.

Answer 2

If you're in the U.S., you'll basically have to file the 3 years, pay your taxes, plus penalty and interest.  You should go to a tax accountant because they can help you minimize the interest and penalties.

Go in now because the longer you wait the worse it gets.  Start saving money to pay as much as possible - you will probably have to make an arrangement with the IRS to make  payments so the more you can pay the better you'll be.  Don't forget to pay your state taxes too, as the IRS will probably notify them when you file.

Answer 3

You wont be in trouble, its happens regularly.  go to the accountant or tax agenr with you box full of papers and get it done.

Answer 4

What country are you in?

Answer 5

The longer you leave it the worse it is going to get.  Go see an accountant as soon as you can, you will have to pay taxes from the last 3 years and probably interest, you may also get a fine, as to how much I have not got a clue.  Just bite the bullet and get it done before it gets really out of control.  You will feel so much better when it is done. Good luck.