Taxes that have been unpaid in the year that they were due. Taxpayers can have unpaid back taxes at the Federal, State and/or local levels. Back taxes accumulate interest and penalties on a regular basis. The IRS would much rather get taxpayers back into the system than prosecute the average person who makes a mistake. To the IRS, getting your back taxes filed is a top priority.
If a taxpayer decides to prepare his own Years of Un filed Tax Returns, he or she could come face-to-face with many problems along the way. The taxpayer must remember thatÂ the tax laws and tax forms change every year, he may find it difficult to find the correct tax codes or the right forms he or she needs.
Another problem the taxpayer may face is that he or she may be missing certain records that the tax payer needs to actually prepare the tax forms in the first place.
If you do not file, the IRS may complete a “Substitute for Return,” which is not most favorable as it is one tax return for all years. No federal exemptions or expenses will be applied and therefore increase your total tax liability.
If the tax is assessed and the IRS completes a substitute return for you, they will begin collecting. This means they can place a tax levy on wages or bank accounts, or a federal tax lien on your personal property.
Eventually the IRS will find you. They have a complex computerized system that works slowly, but efficiently.
Even if the IRS has completed a Substitute for Return for you, it is in your best interest to file your back taxes because generally they will adjust your balance. Understand that you cannot receive a car loan or mortgage with un filed tax returns if there is a balance owed.
Social Security and other benefits can be removed as well. The consequences of filing voluntarily and not being able to pay are much less than if the IRS finds you first. Lastly, having piece of mind that you no longer have to hide and will be considered in good standing with the IRS.
When a tax payer is subject of IRS or State collection activity due to back taxes, the first step is to stop the collection process. This is true whether it is a wage garnishment, a tax lien, a tax levy or other enforcement effort.
The next step is to have Tax Relief Providers get you the rest of theÂ process to determine where the outstanding tax debt originated. Outstanding IRS or State tax debts are very often based on incorrectly filed or un filed tax returns.
Filing of all delinquent returns or amending incorrectly filed returns is often the fastest and easiest way to settle a tax debt.
If you owe back taxes to the IRS or state, whatever you do, don’t ignore letters or collection efforts, because the IRS will pursue you relentlessly until the issue becomes a nightmare in your life. If you ignore the IRS, you are risking wage garnishments, bank accounts seizures or levies, tax liens, and more.
Regardless of why you have un filed tax returns, the first step to resolving your tax problem before the IRS is to become compliant by filing all your delinquent tax returns.
We here at Tax Relief Providers will gladly prepare years of Un filed Tax Returns. We will assist with individual or business returns. Tax Relief Providers are prepared to assist with all IRS or State filings.
Tax Relief Providers will make the proper deductions on your behalf and in many cases turn the tax debt into an elimination of the tax debt or even get you a tax refund even if you don’t have all you W-2’s or 1099’s.
Contact Tax Relief Providers today….we can help! 1- 888-877-1090
Do you need Tax Relief?
Then call us today for a free consultation. 1-888-877-1090