Filing Back Taxes - Late Tax Filings - Ammended Tax Returns

If you haven't filed your taxes in a few years, you may be wondering what options you have. You may be surprised to learn that filing your tax returns can be the quickest way out of tax trouble.

If you haven’t filed a tax return in a while, you may owe back taxes. It’s in your best interest to file returns for those missing years as soon as possible. The longer you wait, the higher your possible tax liability. You cannot efile back taxes so we send them for you.

If you qualify for our service, you won't owe money to the IRS. Chances are you won't have to pay interest and penalties as well. If there is a remaining balance the IRS can help you set up a payment plan.

Believe it or not, late filers are most likely than the general population to have tax refunds. You absolutely need to know that there are strict time limits for refunds, audits, and debt collection. Your plan of action should provide an estimate for how long it will take to get your refund checks. If you owe other tax debts, you need to know how much of your refunds will be applied to other tax years. If you think you might owe next year, you should plan on making estimated tax payments to avoid owing.

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The Tax Laws You Really Need to Know
You really need to know four provisions in the tax code.
(1) IRS assessments can be fixed by filing a tax return. Sometimes the IRS will take an educated guess about what your tax liability might be. The IRS will then send you a notice of proposed assessment, or even file a return on your behalf. You can reduce or eliminate the IRS proposed assessments by filing your back tax returns.

(2) There are strict time limits for getting a refund, for collecting on tax debts, and for auditing your tax returns. You need to know these IRS Statute of Limitations, because they have a direct impact on your tax filing strategy.

(3) The IRS has the authority to impose penalties and interest on tax liabilities not paid in full by the deadline for the tax return. You need to know how IRS penalties and interest are calculated, and what you can do to minimize them.

(4) Your tax information is absolutely, totally, and completely confidential. A tax professional is ethically and legally obligated not to share your tax information with anyone – not even with the IRS – unless he or she has your explicit authorization.