Do you need help filing back taxes? The big question with back tax returns is where do I start? Because, most times the documents have been misplaced. So the tax years start to pile up. And before you know it, you are more than one or two years behind. Now, tax returns have not been filed for several years. But we can help you file these past due tax returns!
This problem of past due taxes is not unfamiliar to us. In fact, it is not as uncommon as you might think. Clients from every walk of life have been faced with this challenge. But our firm has assisted them in filing these past due returns, requiring the minimum effort from the client.
Before filing any back taxes, it is wise to be familiar with the tax codes and the statutes of limitation. BFS works through the details in each specific account to determine what has been filed by the client, what has been filed by the IRS and what needs to be filed by the client. We have a clear understanding of the tax codes. And know the various statutes of limitation imposed by the IRS. This knowledge is essential before we start on the preparation of the tax returns.
More times than not, individuals and businesses have procrastinated on filing tax returns because of special circumstances, resulting in a back tax debt. In many cases those special circumstances will involve an expected tax debt for the first unfiled year, and the past due tax returns start to accumulate.
Many of those circumstances may actually qualify clients for settlements with the Federal or State Offer In Compromise Programs, often referred to as OIC. The OIC is essentially designed to help taxpayers with a new start. However, it is not designed for every taxpayer that owes a tax debt. Business & Financial Solutions will help determine if you might qualify for filing the Offer In Compromise (OIC), or Tax Abatement.
If you have unresolved tax issues and need help filing back taxes, back tax liabilities, or past due returns that need to be resolved, Business & Financial Solutions can help in reaching resolutions through compliance, negotiations, settlements or abatements. Please contact us for more information.
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