Which of the following is a consequence of not complying with tax return regulations?

Not complying with tax return regulations can lead to potential audits, which is a serious consequence that taxpayers could face. Audits are systematic examinations of an individual or organization's tax return by the Internal Revenue Service (IRS) or a state taxing authority to validate the accuracy of the information reported. When taxpayers fail to adhere to regulations or submit returns late, they may trigger an audit as tax authorities seek to ensure compliance with tax laws and to uncover any discrepancies or unreported income.

This outcome poses significant implications for the taxpayer, including the risk of additional taxes owed, penalties, and interest accrued on any unpaid balances. In contrast, the other options do not reflect the possible results of non-compliance, as there is no guarantee for permanent tax exemption, immediate credits, or guaranteed refunds if regulations are not followed. Compliance is essential to maintain a good standing with tax authorities and to avoid the scrutiny that can come from potential audits.