The Importance Of Filing Taxes. Just Ask Wesley Snipes

The importance of filing taxes has always been driven home as each new tax season approaches

. This is not news to us. As adults, we know our responsibility as citizens that part of our duty is to pay 'Uncle Sam' his share...and if we don't...well, let's just say Uncle Sam has a way of finding out. Not filing taxes each year can cause a lot of problems, more so if you don't file when you owe.

Matters are guaranteed to get worse if you're a tax evader and get caught holding 'tax resistance' seminars in your home. As part of the 35-page ruling against Snipes, a recent Florida federal court declined his apology and explanation of being "unschooled in the science of law and finance," and instead brought forth evidence of him sending "treatises describing theories about why the IRS was powerless to collect income taxes from him and several altered tax forms demanding money for taxes he had rendered in earlier years."

Let this be a lesson to everyone when it comes time to pay up. Sending letters directly to the IRS explaining why you're exempt is not a good idea, as they seem to remember these things. When Snipes failed to consult his tax attorneys and tell them he'd decided to not file or pay, they immediately dropped him as a client.

Snipes was sentenced to three years in jail in April of 2008 for intentionally failing to file income taxes from 1999 to 2001. The court found that he made approximately $13.8 million during those years, of which $2.7 million was owed in back taxes. He was given the maximum penalty as a deterrent to others who may be considering following in his steps by obstructing the IRS.

Snipes' attorney has tried unsuccessfully to appeal the sentencing claiming it to be "unreasonable" but a three-judge panel disagreed, finding the previous court "acted well within its considerable discretion." Snipes has been free on bail for the last two years while he appealed his conviction, but it still remains unclear when Snipes will have to report to jail.

Paying taxes is a part of life, 'death and taxes' as Benjamin Franklin so boldly once said. Unfortunately it is a part of all our lives and can cause much stress when we owe but do not have the money. Even if you still owe money for this past tax season, the government is always willing to make payment arrangements. If you are struggling to get your taxes paid each month, why not consider a debt consolidation loan? There are many private lenders who can help when traditional banks will not. Whether you have bad credit or no credit, a bad credit debt consolidation loan could be the answer.

by: Molly Wider

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