A lot of us do not feel happy when we see some of our money going into taxes. On the other hand, we start to think whether not paying taxes has any impact. The truth is, ignoring or failing to pay tax will only result on severe consequences. These are some of the problems you will be facing if you avoid paying taxes.
- You Will be Paying Penalties and Fines – one of the first consequence you will be facing is this one. Ignoring to pay your taxes will only keep adding amount in the form of fine. Moreover, the fine only becomes bigger when you avoid paying your taxes from a few dollars to thousands.
- You Will be Visiting Court – Failing to pay your taxes in a long time will result in getting the matter sorted out inside a court room. Moreover, your expense grows more since you will be needing help from a professional lawyer.
- You Will Spend Time in Jail – Now spending time inside a jail happens rarely. However, if the amount is massive along with the duration, then be ready to face this consequence.
- You Will Lose your Business – If you own a business and avoid paying taxes, then you are certain to lose your business. Certain amount of income is going to be yours for your personal use however, the remaining needs to be paid in the form of tax.
If you wish to avoid these consequences, then you need to hire the best business accountants in gold coast region.