Unfiled Tax Returns or Delinquent Tax Returns

unfiled tax returnIf you are faced with Back Taxes because of Unfiled Tax Returns you can find yourself in a serious problem and you should be proactive in resolving your tax debt. It is highly recommended that you start with a unfiled tax return consultation so you can connect with Tax Experts (CPAs, Tax Attorneys, Tax Experts) who can help. These experts will negotiate with the State or IRS to resolve your back tax situation and come to a reasonable agreement. Tax Experts can reduce or eliminate tax penalties, interest, and even the total amount you owe. If you decided to not get help and/or tackle it yourself, you will most likely be more stressed and surrounded by confusing forms to fill out.

What If I Do Nothing?

If you fail to file a tax return, more problems only come about and the IRS will start sending you letters to remind you and inform you of penalties. In due time, you may be faced with a Tax Lien or Tax Levy (seizure of assets and/or bank account and/or wages).

What Should I Do First? What Next?

1) Start by gathering all your necessary Tax documents such as your 1098, 1099, and W2 forms.

2) Tell us about our debt to see if we can help. There is no obligation so there is no risk!

Also, you need to have past tax returns (if you don't have them call the IRS so they can fax or send to you). Realize, that the IRS takes many calls (so be prepared to wait) and that they usually only have 7 years of accessible returns (older returns are in storage and can take longer to retrieve). Then you will need to file a delinquent tax return even if you cannot pay the taxes because interest and penalties are related to not only tax debt, but also on whether you filed your tax return. W2 forms are important to have so that you can show the IRS the taxes withheld, otherwise, you will be responsible for the total taxes. In other words, they assume no taxes were withheld without the W2. W2 forms can be retrieved from work or your previous employers.

There are serious consequences for unfiled tax returns. Penalties, fees, and even levies and liens can follow. The IRS can collect back taxes that are ten years old and then the statue of limitations laws apply. Is is important that you collect all necessary documents to file returns and we can help you with what you will need. Moreover, we may be able to even help reduce interest, Penalties, or even the total amount you owe.