The potential for criminal prosecution for failure to file a tax return is very small, however, the economic consequences are severe - there is a maximum 25% late filing penalty that can be applied to the tax.

Combined with accruing interest, this late filing penalty can add up to almost 50% of the original liability in many cases.

It is almost always in the best interest of the consumer to file, regardless of ability to pay.

Richard Cotton will work with you to prepare and file historic returns.