Over 30 Years of Accounting & Tax Knowledge
UNFILED TAX RETURNS
Having unfiled tax returns is a common tax problem that leaves many people owing thousands of dollars to the IRS. The number of taxpayers that accumulate past-due tax returns is surprisingly high and continues to increase. As the IRS cracks down to try and reduce the tax gap, we can all expect to see the number of substitutes for return (SFRs) go up and the number of taxpayers owing back taxes grow.
The IRS takes a severe view of unfiled income tax returns, and sees this as a pattern of behavior that can be construed as criminal. The IRS does not have to negotiate with you, no matter how dire your circumstances, until you are in compliance. To be in compliance, you must have all your back taxes filed and be in the process of paying your current year tax bill. This means you can expect to see no relief from IRS collections actions such as wage levy, and no consideration for tax debt relief of any sort, until your returns are filed and you are paying your current tax bill.
File Your Unfiled Tax Returns
The most important thing you can do to stay out of trouble with the IRS is to file your tax returns every year on time. And if you haven't filed a tax return from any year over the past seven years, you can minimize penalties and interest by filing those unfiled returns sooner rather than later. Intentionally not filing your tax return is a federal crime. However, the IRS understands that mistakes happen and they give you a limited opportunity to file past-due tax returns and even to amend a tax return if you need to.
Contact Us today to file your tax returns, (626) 858-6950.