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  • Writer's pictureSean Sadeghi CPA, EA,

Why not Ignore IRS in Los Angeles

Ignoring taxes and the Internal Revenue Service (IRS) can have serious consequences for residents of Los Angeles and across the United States. It is important to understand the consequences of failing to pay taxes and take steps to avoid them.

First, the IRS has the power to seize your assets and wage garnishments to pay off tax debts. This means the IRS can take money directly out of your paycheck, seize your bank accounts, and even seize and sell your property. These actions can have a devastating impact on your financial stability and make it difficult to pay for everyday expenses like rent, food, and bills.

Second, failing to file taxes or pay taxes can result in penalties and interest charges, making your tax debt grow even larger. The IRS can also file a federal tax lien, which publicly declares your tax debt and can damage your credit score and reputation.

Third, ignoring the IRS can result in criminal charges, including tax evasion and fraud. These charges can result in substantial fines and even jail time.

In conclusion, ignoring taxes and the IRS is not a solution to financial problems. It is important to seek help from a tax professional or seek payment plans with the IRS if you are unable to pay your tax debt in full. Failing to do so can result in serious financial and legal consequences that can impact your life for years to come.

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