Welcome back everybody, my name is Tom Olsen. The name of the show is Olsen on Law every Saturday at 11 a.m. right here on news 96:5. I'd like to take this opportunity to invite my friend, attorney Charlie Price with the Price Law Firm right here in Orlando. Charlie focuses on tax issues. Hello Charlie, good morning Tom, good morning Chris. How are you? We're doing fantastic, thank you. Charlie, apparently a deadline has gone by for taxpayers, and we want to know what happens for people who have not filed timely taxes or extensions. Yeah, the deadline was last Monday, that was for the extended deadline. So if you have not filed your 2015 tax return, you are late. And what that means is that the IRS is now adding 5% per month on top of your tax debt up to 25%. So it's really important to get those tax returns in now and not wait any longer because it could substantially increase the amount of tax debt you owe. But there are other problems besides that, you may not get a refund if you wait too long. The IRS won't work with you to solve your tax problems until you file your tax return. Also, the IRS may file what's called a substitute for return if you don't file it yourself, and generally almost always that tax debt is a whole lot more than what it really is, and they're gonna come after you and say you owe two or three times what you really do and start coming after you for that. And also, if it really becomes an issue where you're not paying or filing multiple years, they can come after you criminally for not filing. So, you know, if you're not filing because you think...
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