Are you more than a year behind on filing your income tax returns? Life can throw a lot at us, making it easy to fall behind on important tasks like taxes. Maybe you’ve been through a divorce, dealt with illness, lost your job, or had a family member pass away.
These things can sidetrack you from staying on top of your taxes. Or maybe you’re just feeling overwhelmed by the whole tax-filing process. It’s also possible you’re holding off on filing because you’re tight on money. But trust me, delaying isn’t a good idea.
Sometimes, there are complications with your spouse regarding taxes. If they promised to handle it but didn’t follow through, or if they made mistakes or didn’t pay, it can create extra headaches. In some cases, you can claim innocence and correct any issues with your account.
No matter what’s causing your tax delay, we’re here to help you get back on track, and the sooner, the better. We understand how stressful it can be, and we’re here to lighten that load.
Failure to File Your Tax Returns:
The IRS doesn’t mess around when it comes to chasing down non-filers and non-payers. Even if you don’t owe much, it’s important to file ASAP to avoid penalties and interest piling up.
IRS debt can snowball quickly with failure-to-file penalties, late fees, and the actual taxes owed. The penalty for not filing can be hefty, up to 25 percent. So, it’s crucial to get those back taxes filed pronto, whether you can pay them or not. Filing stops the failure-to-file penalty and sets you on the path to getting right with the IRS.
It’s never a good idea to let the IRS estimate and complete your return for you this is called a substitute for a return and there are no deductions or credits . It’s best to do them yourself or you can call us we are a tax professional to help you catch up and represent your case before the IRS, ensuring you don’t end up financially strapped.
As a tax professional we can assist with responding to IRS notices, organizing your records, filing accurate returns, and guiding you through the steps to get back on track.
Solutions for Your Late Tax Returns:
Feel free to reach out to us for a no-obligation consultation. We’ll listen to your specific tax situation and offer advice on the options available to you. Your privacy and confidentiality are our top priorities.