Past Due, Delinquent or Non-Filed Tax Returns
It is always very important to make sure all tax returns are filed timely. If you do not file your tax return, the IRS can file a substitute return on your behalf with the information they have received from 3rd parties. When the IRS files a substitute return, you are given the lowest possible number of exemptions and the standard deduction. Thus, you are assessed as much tax as possible!
Further, if you have a tax debt, the IRS will not enter into any formal agreement until you are current with all tax return filings. If you are due a refund, you only have three (3) years to claim such refund or the claim for the refund may not be allowed by the IRS. Additionally, the IRS assesses taxpayers a failure to file penalty when the return is not filed on or before the due date, and the collection statute (amount of time IRS has to collect the tax debt) does not begin to run until the actual return is filed or if IRS assesses you a tax balance. Therefore, you are always doing yourself a major disservice by not filing your tax returns and doing so timely.
You may have not filed tax returns for a number of years, and you may be concerned about acquiring W-2s, 1099s, 1098s, K-1s and other tax related documents you have previously received. Do not worry! We can file a Power of Attorney or Tax Authorization form and acquire all of your wage and income transcripts from the IRS. Further, we can help you rebuild a set of books for your business to prepare the tax return(s).
The filing of your tax returns may be necessary and even mandatory for certain situation such as: applying for a home loan or bank loan, filing bankruptcy, getting social security benefits, getting Medicare benefits, applying for student loans, applying for certain positions of employment.
Thus, if you have 1040 Individual Income tax Returns, 1065 Partnership Returns, 1120 Corporate Income Tax Returns, or any other tax returns that have not been filed, please contact us. As part of our free consultation we will acquire your transcripts and review and discuss such transcripts with you.
Tax Debt Solutions & Tax ReliefTax Problems
Offer in Compromise
Payment Plans
Wage Garnishment and Bank Levies
Penalty Waivers (Abatements)
Tax Return Preparation
Audits
Accounting
Appeals (i.e. Collection Due Process)
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