When you don’t file your tax return, you are looking for trouble—and trouble is what you will find—regardless of whether you owe money to the IRS or the IRS owes you money.

If you owe tax money to the government, your failure to file a tax return triggers expensive penalties of 5 percent a month, up to a maximum of 25 percent of the tax due.1

In addition to this “failure to file” penalty, the government tacks on a penalty for ... Log in to view full article.