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Filing taxes is very important! Failure to file tax returns at all can lead the IRS to charge penalties and, in extreme cases, even put someone in jail for tax evasion.

Both income tax and self-employment tax returns must be filed (mailed) to the Internal Revenue Service (IRS) by midnight on April 15 of each year. If you file late, you may have to pay penalties and interest fees.

A basic form that is used is the 1040 U.S. Individual Tax Return, and Schedule C - Profit or Loss from Business. Self- employment tax is filed using the Schedule SE. Tax forms are usually available at your local post office or bank. Forms can also be ordered from the IRS by calling 1-800-829-3676, or by visiting the IRS website online and downloading any form(s) you need.

The tax code is very complex. The Internal Revenue Service offers booklets and telephone service to help answer any questions. Help with the 1040 form is available from 1-800-424-1040. You can also go to the Internal Revenue Service office in your town and meet with an agent who will guide you through the forms for free. It is very important to get new forms and booklets each year, as rules, rates, and forms change from one year to the next. You should have the tax forms for your business prepared by a certified public accountant (CPA) or by a tax preparation service, such as H & R Block.

In any case when in doubt it is worth spending the extra money to have a legal professional handle you tax concerns for you. It is always better to be safe than sorry when it comes to your taxes.