Unfiled tax returns
Unfiled tax returns are a serious offense in the eyes of the IRS, and can lead to mounting debt as back taxes and fines pile up. The IRS will not stop the IRS collections process until all unfiled tax returns have been filed, and you have paid back all money due. If you continue to fail to file your taxes, the IRS will place a levy on your wages.
If you have unfiled tax returns, the best way to stay out of trouble with the IRS is to immediately file your back taxes. Think that the IRS doesn’t notice your unfiled tax returns? Think again. Even if it’s been years since the unfiled taxe returns, the IRS can notify you at any time that they know and are ready to aggressively pursue back tax payments.
Owing taxes threatens families, closes businesses and causes financial ruin. Delinquent taxpayers often face:
- Fear of IRS detection
- Fear of filing late tax returns, becoming burdened with an impossible IRS back tax debt
- Loss of business
- Inability to access bank account funds
- Loss of income due to wage garnishment or Social Security levy
Fear of the unknown is the most common reason people avoid the IRS. Ignoring the notices and phone calls is never a solution and will only worsen your situation. Once collection action has begun, the IRS will not yield.
Unfiled tax returns have criminal consequences, as well. If you fail to file, you can be sure that the IRS will eventually criminally prosecute you. Claiming an inability to pay for your tax bill is unacceptable to the IRS; they will assess fines and penalties on top of what you originally owed if you fail to file your tax return.
When you fail to act before the IRS does, they will file a substitute for return (SFR) for you. An SFR is based on the IRS’s best guess of your income, and will have penalties and fines tacked onto your tax bill. There is no chance for deductions on an SFR, so it makes sense to file your back taxes before the IRS has a chance to file an SFR for you.
Due to increasingly complex tax laws, many taxpayers find themselves pressed by severe tax problems and owing IRS back taxes. Although the IRS collects trillions of tax dollars annually, unpaid back taxes still surpass billions. The IRS is a powerful and intimidating agency. You need the help of a qualified legal counsel to resolve your IRS back taxes.
For a complimentary, no obligation consultation on how to get those past due returns filed Call Tax Relief Providers 1-888-877-1090.
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