If you are a citizen, it can cost you heavy fines or even a prison term. In any instance, it can make your life very complicated.

“When applying for a loan, the tax return is required in the process. If you want to send your kids to college, the first thing financial aid providers will ask for is the tax return documents for that year,” says Helen Orosz, a tax advisor. And if you are looking to legalize your immigration status, “it is a requirement to provide proof that you have paid your taxes during the last few years,” she adds.

“If you fail this test, they will not approve your application,” says Orosz. “If anyone wishes to legalize their situation, they need to start paying taxes right now if they have not done so in the past.”

To meet this prerequisite to achieve legal status, the first thing you need to do is request an individual taxpayer identification number (ITIN) from the Internal Revenue Service (IRS). Remember this advice especially now that the U.S. Congress is debating immigration reform, which could make the path to legal residency and citizenship much easier for millions of Latinos in the country. But, current and accurate tax documentation will be one of the first prerequisites. And don’t be afraid to request this crucial number from the IRS. You will have no immigration questions asked. “The IRS is one the most powerful government agencies in Washington,” says Orosz, “but, it does not share information with Citizenship and Immigration Services. The IRS does not look at or determine immigration eligibility. Their job is to make sure that all tax obligations are met.” There is another important aspect. Your tax return will be used to determine your situation regarding the Affordable Care Act, which requires that practically all of us have health insurance coverage by 2014. If you cannot afford health insurance, your tax return this year will help establish your eligibility to receive a government subsidy to fulfill this requisite. But if you are indeed capable of buying this insurance, then the situation changes.

“If you fail to get insurance, then you will have to pay a fine, any amount between $50 and $950,” says Orosz. “Undocumented workers are also liable to pay a fine and won’t be eligible to receive any subsidies until they legalize their situation.” And finally, your retirement is also at stake. When you pay your taxes, the IRS sets aside contributions to Social Security (your retirement money) and Medicare (medical help for seniors). If you are an undocumented worker, “you won’t lose that money because the moment you legalize your situation and notify the IRS, you automatically become eligible to receive it,” adds Orosz. Regardless of your immigration status, you must declare and pay your taxes to make a more prosperous future for your family.

For more bilingual information about your taxes, visit pormifuturo.org or call toll free 800.206.9096.