What will occur in case I do not file taxes, though I work in the gig-economy or

[accountinglads]

When you are self-employed or in the gig economy, there are more consequences of not filing a tax. Self-employed people are supposed to declare all income received by the IRS even in the absence of W-2s and 1099s. The cost of failure to file is not only on your income tax but there is also self-employment tax and that might rise to a high charge on what you owed. Interest is paid on both the amounts of the debt. The third party income reports may also be compared with those of the IRS and your return may be deemed as missing. Your non-filing will cause you to face enforced collection, substitute returns or liens. Making timely filing assists in preventing increased punishment. What Happens If I Don’t File Taxes

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