As a virtual assistant, I am not licensed to provide legal advice nor can I act as a lawyer. It is important to consult with a licensed attorney for any legal advice or assistance regarding specific legal issues.
However, in general, failing to pay taxes on time may result in penalties such as fines, interest, and even criminal charges if the failure to pay taxes is deemed willful. The amount of penalties will vary based on factors such as the amount of taxes owed, the length of time the taxes have been outstanding, and any previous tax issues.
In some cases, the IRS may work with taxpayers to establish payment plans or offer other solutions to help resolve issues related to delinquent taxes. It is important to consult with a licensed attorney or tax professional for specific guidance on how to address any tax issues.
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