There are many reasons why green card holders in Florida fail to file their tax returns. For some, confusion over tax obligations or forgetfulness may lead to unpaid taxes, while others do not file returns because they were given bad advice or came down with debilitating illnesses that turned their entire lives upside down. Moreover, some people push off filing taxes after experiencing unexpected financial hardships. Regrettably, falling behind on taxes can make it even harder for them to get caught up in the future.
According to the Internal Revenue Service, green card holders are considered U.S. tax residents and are required to file tax returns with the IRS. Sometimes, those who recently moved to the U.S. are under a great deal of pressure and unfamiliar with the country's tax laws. Unfortunately, those who have failed to file tax returns over the course of multiple years often face a snowball effect, where mounting fees and interest continue to accumulate.
On top of penalties for filing late, the IRS also penalizes taxpayers for making late payments. Furthermore, continually failing to pay taxes increases the likelihood of criminal prosecution. In some cases, taxpayers who do not file returns for years are even sentenced to prison. As a result, it is vital for green card holders, those with work visas and anyone who is planning to move to the country to develop an understanding of their tax obligations to avoid setbacks.
This information is not to be interpreted as an alternative to legal advice.