Better Late Than Never
If you have unfiled income tax returns, you are running on borrowed time. Every day the IRS’s technology grows more sophisticated, so it’s just a matter of time before they notice an error and catch up to you. Of course, even if the IRS doesn’t notice, the State may discover the missing returns. They will start to pursue you and then inform the IRS as well.
Do not take this situation lightly; failing to file your tax returns is a criminal offense. If you do not file, you risk prosecution and punishment, possibly with jail time. This often translates to one year of jail time for each year of unfiled taxes. Why risk potentially losing your freedom for failing to file your tax returns! Let us give you peace of mind by helping you get into compliance with the filing requirements. Honesty pays off. If you voluntarily file your delinquent returns, you’ll likely avoid further problems, other than having to pay the interest and penalties. If you wait for the IRS or State to file your returns for you, they will have the government’s best interest in mind, not yours. The IRS will not include exemptions, deductions, or credits that could reduce the tax amount.
Tax representation can help. Before anything can be done to extract you from this predicament, you must file all the returns. You must get your records current. In most cases, you will likely owe taxes, interest, and penalties after you file the returns. Once we see how much you owe, we’ll design a plan of action to resolve that too.
Generally, we can prepare and file delinquent returns in a way that avoids exposure to such harsh penalties. In some cases, the IRS has prepared a return for you and assessed the tax based on that return. These IRS-prepared returns will include all the income items the IRS knows about. However, they will not include deductions, exemptions, or credits you are entitled to claim. Therefore, the tax assessed based on the IRS-prepared return will generally be higher than the amount we determine after considering appropriate deductions, exemptions, and credits.
We will assist you in filing the return with the lower liability and amending your IRS record amended. If there is a balance due after correcting the IRS records, we will represent you before the IRS to resolve it in the least intrusive manner available.