Tuesday 21 Nov 2017
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Streamline Tax Resolution, LLC

Navigating Your IRS Issue Just Got Easier

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Unfiled Tax Returns

 

If you have unfiled tax returns to deal with, we can help. Having unfiled tax returns is a serious offense, punishable by law. It is also important to note that the IRS will not entertain any type of settlement or arrangement until all legally required returns are filed, and the taxpayer is in full filing compliance. Both individuals and businesses have a variety of reasons for not filing tax returns, including not realizing that they had to file, intentionally not filing because they’re unable to afford the amount owed, or afraid of being hit with tax penalties. Despite of what you have heard, you have the right to file your original tax return, no matter how late it's filed.

It is important to note that the IRS has an unwritten rule, whereby they will not punish taxpayers who come forward on their own with unfiled tax returns; however, this rule only applies to those who come forward before the IRS finds them. The IRS will find all delinquent taxpayers sooner or later, and interest and penalties will continue to accrue until the outstanding balance is paid in full.

To limit the potential for serious consequences and steep penalties, it is important to file and pay your delinquent taxes before the IRS or state taxing agency finds you. Act quickly to eliminate the risk of these consequences, and limit or eliminate penalties owed.

Getting Help with Unfiled Tax Returns

Regardless of how bad your situation is, the number of years that you have unfiled returns for or how much you owe, there is a solution. Even if you have lost your old W-2 and 1099 forms, there are ways to obtain this missing information. A record of account from the IRS or your state will provide you with all of the information needed to get a better idea of what your tax situation really looks like.

Once we bring you into filing compliance, we can determine the best way to proceed with a proposed plan of action. Going forward, our team will be able to represent you in all correspondence with IRS and/or state in which you have not filed through power of attorney. You will receive updates on the status of your case throughout each step of the process to keep you well-informed how of how things are progressing.


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