What are the consequences of not filing taxes?

Not filing taxes can lead to several serious consequences, including financial penalties and legal repercussions. The District of Columbia Office of Tax and Revenue imposes a failure-to-file penalty, which can accumulate over time, leading to a substantial financial burden. In addition to penalties, interest is also charged on any unpaid taxes, compounding the amount owed as time passes. Furthermore, failing to file taxes can result in the loss of potential refunds or credits, which taxpayers may be eligible for if they had filed on time. Moreover, the District can take further action such as placing liens on property or garnishing wages to recover unpaid tax debts. If the failure to file is perceived as willful, it could eventually lead to criminal charges. Additionally, it is important to note that the District may take measures to estimate a taxpayer's liability based on available information. To avoid these complications, individuals should regularly review their filing obligations and ensure that their taxes are filed punctually. For specific details or the latest information, it may be beneficial to refer to the District of Columbia Office of Tax and Revenue's official website.