Are You a Little Behind in Filing Your Income Tax Returns? More Than a Little?
Sometimes life demands greater attention. You are thrown a curve, feel too busy or have experienced a divorce, illness, job loss, or death in your family that diverted your intentions from filing your tax return on time. Or you could just be overwhelmed with the whole process of filing your taxes.
Perhaps you don’t have the money to pay your taxes and thought you should wait to file (this is NOT a good idea).
You may also have a special situation with your spouse if they promised to file but didn’t, or they don’t do it correctly or they don’t pay the amount due. Depending on the circumstances, you may be able to claim “innocent spouse” and get your account corrected.
Whatever your situation, I am available when you are ready to get caught up, and the sooner, the better. I can help you get this off your plate so you can sleep the sleep of the righteous again and be free from all that stress.
Failure to File Your Tax Return(s)
The IRS is aggressive about following up after non-filers and non-payers. So even if you don’t owe much, you’ll want to file right away to stop the penalties and interest from adding up. And adding up…
IRS debt can add up fast. They have penalties for failing to file your return, failing to pay the taxes your return would have calculated (and rest assured, the IRS can calculate your taxes for you based on their information if they must), and interest on the taxes that are late. The failure to file penalty alone can be 25 percent, and that adds up for you fast.
Filing back tax returns is the first step to getting caught up, whether you pay them then or not. Filing back tax returns will stop the failure to file penalty and is the first step on the road back to compliance for you.
It’s never a good idea to have the IRS estimate and complete your return for you. You are better off hiring a tax professional to get you caught up and to represent your case before the IRS to work out a way to pay your back taxes that won’t leave you bankrupt or suffering financially. Tax issues do not resolve themselves on their own.
There are many national chains out there that would like to help you with your tax problems, but my experience is that clients prefer to hire a local tax professional in their own neighborhood. A tax professional can help you:
- Draft a professionally response to IRS correspondence
- Help you collect records and receipts and get your bookkeeping caught up so you can file accurate returns
- Prepare and file any delinquent income tax returns
- Explain the next steps you need to take to continue getting back into compliance with the IRS.
Solutions for Your Delinquent Income Tax Return Filings
Get in touch at no obligation to you so we can understand your specific tax situation and provide advice on the options available to you. As always, your tax issue is handled with the utmost confidentiality and privacy.
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