If you have unfiled tax returns, the IRS can make your life miserable. Not only does the IRS continue to accrue penalties and interest on the back taxes, but failure to file past due tax returns can prevent you from getting credit. Moreover, the IRS can file a tax return on your behalf and collect on the amount due even if it is more than you would have owed if you filed your past due return!
That’s where we come in. The best way to catch up on your unfiled tax returns is to hire us! Sometimes, our clients’ tax issues can be resolved by simply filing past due tax returns. We routinely assist our clients in achieving compliance with the IRS by filing any number of past due returns. If you have a tax due after we file, we can assist you in resolving this debt through options like an Offer in Compromise or Installment Agreement.
How can I catch up on my unfiled tax returns if I don’t have any documentation?
The first question we normally get from our clients in such a case is “what if I don’t have all of my income documentation?” Maybe you lost your W2 while moving. Maybe you lost it in a fire or flood. The good news is that in most cases, that’s not a problem.
As part of our tax transcript analysis, we can also obtain a wage and income transcript. This transcript shows data from information returns the IRS receives such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. We would use these transcripts to assist us in preparing your unfiled tax returns
What happens after I file back tax returns?
Depending on how many years of unfiled tax returns you have and how much you owe, we may need to do more than simply file your back tax returns. It is entirely possible that you are entitled to a refund that you have missed out on simply because you haven’t filed all of your returns! The only way for us to find out is by filing the past due tax returns.
However, the IRS generally imposes penalties and interest on tax due from missing returns. If you have a tax debt resulting from these back tax returns, we may also likely request a penalty abatement for our clients.
What can the IRS do to me if I don’t file a tax return?
A lot. If you have unfiled tax returns, at some point the IRS will file a “substitute for return”. This is a tax return prepared by the IRS on your behalf. Unfortunately, if the IRS prepares a substitute for return, it’s never in your favor. The IRS doesn’t take all available deductions or credits. It is often a worst-case scenario for you.
Once the IRS files a substitute for return, the IRS can begin collection efforts on the taxes – even if you still have an unfiled tax return! The IRS can levy a bank account, garnish your wages, or file a federal tax lien.
The IRS will also assess penalties and interest on your account for any unfiled tax returns.
What penalties are there for filing a late tax return?
The IRS has a number of penalties they can assess when you file a tax return late. Simply filing the return late can result in a “failure to file” penalty. If you owe tax on those returns, but did not pay prior to April 15 of the following year, you may also get a “failure to pay” penalty. These penalties are in addition to the interest you’d owe on any unpaid tax.
What if I owe taxes on my back tax returns?
No problem. We help our clients resolve their tax issues every day.
We would review your situation with you to determine the best tax resolution strategy for your case. There are so many tax resolution options available there’s no doubt we’ll have a tax resolution strategy for you. For example, we may look at:
Depending on your situation, you may not have to pay any of the back taxes due on your unfiled tax returns!
How can I start the process of filing my back tax returns?
When you have unfiled tax returns, the tax resolution process can be daunting. To help our clients along the way, we provide a number of free resources to answer your questions and walk you through the process. Attorney Best offers his book, “The Essential Tax Resolution Survival Guide”, for FREE, just by requesting a copy. As part of the ARM Yourself With Knowledge series, this guide aims to help you navigate the tax resolution process and what happens afterward.
If you would like to discuss your personal situation or if we didn’t answer your specific questions in our show, just give us a call and we’d be happy to discuss your case. Our consultations are completely free so you have nothing to lose. If you’d prefer to e-mail us, just click here for a free consultation. Our tax attorney will be happy to start working on your case immediately.
Our tax attorneys can help you catch up on your unfiled returns nationwide
At ARM Lawyers, our tax attorney handles tax cases nationwide and has offices in Pennsylvania, Maryland, New Jersey, and New York. For more information about how we can help you catch up on unfiled tax returns in your state, feel free to click below:
- Pennsylvania tax lawyer
- Maryland tax lawyer
- New Jersey tax lawyer
- New York tax lawyer
Contact us for a free consultation with a tax attorney
If you have unfiled tax returns, call now to schedule a free consultation so we can start you on your path to relief . Take back control of your financial future. Providing both immediate relief and long-term solutions, tax resolution could be the answer you have been looking for. Our attorneys strive to make this process as easy as possible by offering flexible payment options and financing.
Contact our law office today to schedule a free consultation! Call or reach out to your closest office:
- Stroudsburg Pennsylvania tax lawyer
- Palmerton Pennsylvania tax lawyer
- Bethlehem Pennsylvania tax lawyer
- Elkton Maryland tax lawyer
- Baltimore Maryland tax lawyer
- Morristown New Jersey tax lawyer
- Brooklyn New York tax lawyer
The best part is that we can start the whole process over the phone or by video conference so you don’t even need to come into the office! We make everything as easy as possible for you from start to finish. Call us today.