File Past Taxes: What do I Need to Know?
Do you feel that you are the only one who needs to file past taxes? You should be aware of some issues that might expedite the process and possibly you can uncover a few tips that can make it a little easier for you. The thought of doing nothing and looking over your shoulder for an IRS revenue officer the rest of your life really is no way to live. You can find that some things may go your way when filing past due taxes, especially if you have the knowledge, plenty of time and a good support system to guide you.
You must first realize that filing past tax returns means that the IRS can and will likely begin the collection process in order to collect any tax liability. Please don’t let this prevent you from filing the past returns. If you do nothing it can certainly escalate the IRS collection process. If you simply fail to file any of your past taxes, the IRS will often create a return (called a Substitute For Return or “SFR”) and estimate your liability and then begin the collection process.
Why would anybody let the IRS assess their tax obligation for them? If you do not take care of filing the past
taxes, then penalties and interest will continue to build resulting in a liability that may be unbearable. Once you file the past taxes, you have established a means to discuss the tax debt with the IRS and determine a solution that may result in you settling the balance for less than the balanced owed. This of course is not possible unless you take care of filing your past taxes first.
The key is to find a qualified CPA or another tax professional who can help you in filing past taxes. They not only will help you to understand your rights under the law, but will protect your interests and negotiate with the IRS. You never have to speak to an IRS agent as they can do it for you. Find a professional who can help you get the past taxes filed and you will be on your way to getting rid of the tax problems that have been haunting you.
We are committed to helping you with your past tax returns. Our experienced team of tax professionals know how to deal with IRS tax issues. We will work on your behalf to settle your tax problem in your favor.
Your tax problem will certainly not go away on it’s own. Call us now at 1-888-570-1033 for a FREE consultation.