I'm 35 and I haven’t filed my taxes in 10 years. Will I be in big trouble with the IRS — and how do I start catching up?

Core Insights - Many Americans, like the hypothetical individual Jeff, avoid filing taxes due to fear of penalties and fees, leading to a significant number of individuals being behind on their tax obligations [1][2] IRS Handling of Missing Tax Returns - The IRS may file a substitute return for individuals who have not filed, which is based on their assessment of income and may not account for all eligible deductions and exemptions [3] - A substitute return can result in a tax bill that may initiate the debt collection process, including wage levies and federal tax liens on various properties and assets [4] Penalties for Late Filing - Individuals who fail to file their taxes may incur a 5% monthly penalty for each late return, capped at 25% of the tax due, along with a 0.5% monthly penalty for any unpaid amounts [4] Steps to Resolve Tax Issues - Acknowledging the need to catch up on taxes is the first step towards resolution, and there are actionable steps individuals can take to get back on track [5][6]