If you haven’t filed taxes for a few years, it’s not the end of the world. Business & Financial Solutions can customize a plan of action for your particular circumstances. We can get all your unfiled tax returns prepared relatively easily.
There are approximately 6 million non-filers in the U.S every year. There are many reasons people do not file, with IRS research showing that often people do not file in years that they have status changes, like the death of a spouse or a divorce. Emotional and financial hardships are also cited as reasons that people do not file their tax returns on time. There are also people who have simply procrastinated. No matter what the reason, you need to know that the only way to deal with the back taxes is to get compliant and file your taxes.
Avoidance in filing your tax return may not have immediate and obvious consequences; it will eventually catch up with you. The IRS can make life difficult for you, but the good news is that our firm help you get caught up on back taxes. We can help determine if you need to file. If you know you need to file and are avoiding it but are avoiding it because you cannot pay the amount due on the return, the IRS offers assistance.
However, there are other options as well. You may want to find tax experts with the knowledge to advise you on all your options. They may able to provide options beyond what the IRS may give you. Options may consist of Offer In Compromise, Abatement of Penalties or setting up a payment plan with the IRS if you aren’t in a position to pay the amount due. But, the solution for your situation may not be that simple and other options may be explored. There are many problems that can arise when you don’t file your tax returns for years, including penalties and interest assessments, an IRS Tax Lien, or an IRS Tax Levy.
Regardless of your reason for not filing, file your tax return as soon as possible. You can contact a tax professional or the IRS for help with filing delinquent returns. Keep in mind that the IRS does not represent the best interest of the taxpayer, but of the Internal Revenue Service.
Unfiled returns, or back taxes is a serious matter. It can quickly get out of control. An experienced tax professional can help you resolve these issues. These include those with the IRS, and your state. This may help you avoid increased penalties and interest.
A typical case, is where a young couple, just starting life. They were off to a bad financial start. This self-employed couple had unfiled tax returns and had even accumulated several thousand dollars in IRS debt. The IRS had begun to levy funds from their bank accounts. They tried to solve the problem on their own. They tried calling one of the companies they’d heard about on late night TV commercials. But, they got nowhere. The clients were ready to give up when they called us. We were able to stop the financial bleeding and get them on the right track.
If you have already tried to resolve your issues with the IRS with little success, it may be time to try something different. Just the headaches dealing with the IRS is enough of a reason to speak with our tax experts, You may learn more about your options. Business & Financial Solutions offers help to individuals and businesses. This applies even if you are unable to fully pay their taxes. That applies to either back taxes, or those due to current or late filing. If you cannot pay your taxes, do not let this prevent you from filing because tax settlement options may be available.
You can get compliant with the IRS and your state with our help. For more details contact us as quick as possible. Email us at firstname.lastname@example.org, or call (855) 557-2222. We have office locations in Frederick MD, Rockville MD and Vienna VA.
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