Dear ,

There is this general misconception that you can choose not to file your federal return if you do not owe any taxes. The argument for this is that there will not be any penalties when you owe nothing.

 

But the truth is you lose more when you choose not to file the return. Below are some reasons you must file your tax return even if you do not owe any tax.

 

• If the IRS owes you a refund, you will not get it until you file.
• If you don’t file, there will be no statute of limitations on you if you get audited, meaning the IRS can audit you going back to as many years as they want. This could be bad for you
• Some taxpayers failed to receive their stimulus checks because the IRS did not have their information at hand. And for the IRS to have this information, you must file your tax return
• If you haven’t received your stimulus check, you must file a tax return even if you owe nothing and claim the Recovery Rebate Credit.
• If you run a business and don’t file, you could lose opportunities for funding and business partnerships

 

There is plenty you gain from filing your federal return. Call me today at (202) 618-1297 to let me help you quickly file your 2021 tax return and prevent yourself from losing all the above.