So you're behind on your tax returns….what to do if you behind on filing your taxes

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There are many reasons why people fail to file their tax returns. One of the most common reasons is that they do not have the money to pay their taxes. Whatever reason you have had, if you have not filed your taxes for a year or two, you now have IRS Problems. One of the easiest ways to rid yourself of this specific IRS Problem is to file your back taxes.

With the use of their computerized Information Returns Program, the IRS matches W-2s and 1099 income reports. This shows them who has and who has not filed their tax returns. Your best course of action is to get your tax returns filed before your IRS Problems get any bigger.

Worst Case Scenario

Did you know it is a crime to not file a tax return if you owe taxes? The fine for not filing your taxes can be as high as $25,000 per year. You could also be sentenced to one year in prison for each unfiled return. To reduce your chances of a fine or imprisonment, get organized and get your tax returns filed.

Steps for Filing

Get your documents together. Find all your documents and determine if there are items missing. If there are, you can request copies from the IRS.
Prepare the tax returns. This can be done by yourself or by a tax professional. They will help you deal with the IRS if it becomes necessary.
Be informed. Believe it or not, you may be eligible for a tax refund. Do your research and find out the time limits for refunds. Be aware that if you are due a refund, the IRS will probably use it as payment on your tax debt.
Pay your tax debts. Create a plan that will help you pay your tax debts in full. If you do not have the funds readily available to accomplish this, you do have other options. These include obtaining an installment agreement or an Offer in Compromise.
Make plans. With the help of a tax professional, review your financial situation and prepare a strategy to help you reduce your taxes.

To get out from under this IRS Problem, contact our office. Our knowledgeable staff can answer any of your questions and assist you with the filing process. The future will look brighter for you and your family when you have the burden of your tax debt under control. Get in touch with us today. Whether you need Tampa Tax Attorney or anywhere in the United States, we can help.

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Comments on So you're behind on your tax returns….what to do if you behind on filing your taxes

March 23, 2008

C. Smith @ 1:53 am #

Darrin,

I am in San Diego, we have an S-corp business, its me and my husband, we have unfiled taxes since 06, we are filing (and qualify) for Chapter 7.

We want to attempt to get rid of (unlikely) OR offer in compromise our 06/07 liabilities… who do you suggest we contact locally? Or is this something you can do?

thanks