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What are the implications if someone has not filed taxes…

Customer Question
What are the implications...

What are the implications if someone has not filed taxes from 2010 to 2014 and there was tax owing?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Someone I care about did not file taxes for a few years after her father died and earned tip income as well as earnings reported on the T4. I am helping her by completing the forms and am concerned about the implications. I don’t know whether it is safe to include the additional income after all this time because it puts her in a position she owed taxes in those years

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I don’t think so

Submitted: 1 month ago.Category: Tax
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Answered in 4 minutes by:
12/21/2017
Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 1 month ago
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 456
Experience: Adjunct Professor
Verified

Hey! I'm Carter and would be glad to help you with this.

If you file the past due returns, then the only negative implications that can come out of it are that your friend will be assessed penalties and interest.

Legally, you are supposed to report all income that you earned during the year. Failure to report income could leave the statute of limitations open longer to audit the return. If it is a large sum of income, it could also have criminal repercussions.

Hope that helps. If you need anything else, let me know. If not, please leave a rating. Thanks!

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Customer reply replied 1 month ago
Could you give a sense of the scope of the potential financial hit if I gave you an example? My calculations would put her 2010 taxes owing are $245. She works minimum wage, so she’s pretty terrified to file
Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 1 month ago
At $245 of tax owed, the penalty should be pretty small, like $20.
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Carter McBride
Carter McBride
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Category: Tax
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