What happens when you don't file your tax returns?
SO... You haven't filed your tax returns for the last couple of years. As a non-filer, you are more likely to be selected for an IRS audit. Not only will you owe taxes and interests, but penalties will be assessed for the failure to file and pay the taxes timely. All these can add up to a hefty price tag!
Most taxpayers file their tax returns on time, but sometimes they just stop filing altogether. Usually, this is due to a change in circumstances such as financial or emotional hardship.
Or, maybe they’ve misplaced the paperwork needed to file their return or were overwhelmed by the complexity of the new tax reform laws and just didn’t get around to filing this year. Whatever the reason, failing to take action only makes a bad situation worse.
At IRS Tax X Relief & Accounting, LLC, we understand that life happens which prevented many from filing their taxes. We specialize in tax matters including preparing non-filed tax returns for individuals and businesses. Our goal is to help you file all your non-filed tax returns with the maximum TAX SAVINGS, so you are current on your tax return filing requirements.
We Are Here to Help You Get Back on Track
According to IRS estimates, more than one million taxpayers fail to file their tax returns in any given year. Whether you file as an individual, head of household, are self-employed or file a business or corporate tax return, if you’re one of them, we can help.
If you owe the IRS money and are wondering what your options are, click on any of the links below to learn more about our tax relief services and how we can help.
You Could Be Losing out on a Refund You’re Entitled To
Whether it’s been one year or ten since you stopped filing your tax returns, it’s not too late. If you don’t owe any tax, you might be due a refund. If you do owe tax, then you might be able to minimize the amount you owe.
Common penalties include:
- Failure to file – when you don't file your tax return by the return due date, April 15, or extended due date if an extension to file is requested and approved
- Failure to pay – when you don't pay the taxes reported on your return in full by the due date, April 15. An extension to file doesn't extend the time to pay
- Failure to pay proper estimated tax - when you don’t pay enough taxes due for the year with your quarterly estimated tax payments, or through withholding, when required.
Help Is Just a Phone Call Away
Not everyone needs to file a tax return, but if you do -- and haven’t -- you could be liable for failure to file penalties or worse, spend a year in jail. Why take a chance?
Let our experienced tax professionals help you file your non-filed tax returns before the IRS starts an audit.
If you are one of the more than one million taxpayers that havn’t filed a tax return recently, call the office to set up an appointment with an experienced tax specialist or fill out the contact form below to file your taxes before the IRS starts an audit.