Tax forms are confusing but there’s absolutely no reason to panic. Here's what might happen if you make a mistake:
No matter what you’ve heard, jail time only happens in extreme cases of tax fraud -- like when you owe the IRS millions of dollars.
If you made a mistake that results in getting more money back than you should have, the IRS will send you a letter saying you need to pay some of the money back. And unfortunately, you might also have to pay a fee.
If you owe more than you paid, the government might send you a letter telling you how much you owe. You can always check to see if you owe any money on the IRS website
If the IRS thinks your taxes don't look right, they may send you a letter asking you to show documents or other proof of what you reported on your taxes.
You can hire a tax preparer to help you through this. It's annoying but it won't set you back or send you to jail.
Keep a copy of your tax documents somewhere safe, just in case.
Text or call us at (786) 460-1424 to speak to a tax expert. No strings attached. We can even help you file your taxes for free.