IRS BACK TAX PROBLEMS? TAX ATTORNEYS READY TO HELP - CALL (800)790-8574
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Let’s face it, life gets busy. Nevertheless, you have forgotten about those prior year tax returns, but the IRS hasn’t. Here are some common questions for those taxpayers who are stuck in the mud with unfiled tax returns:
SHOULD I FILE MY PRIOR UNFILED TAX RETURNS?
Since the IRS has 10 years to request an unfiled tax return, we advise that you file it promptly! With that thought in mind, here’s what could happen:
Refund: You might receive a refund from the IRS for a prior year.
You have three years to claim your refund.
Tax Liability: You might have a tax due. Consequently, the following could apply to you.
Failure-to-File Penalty: After the filing deadline, there is a 5% penalty applied to your unpaid tax liability each month it is not paid.
IRS Letter: If you receive a CP3219N letter from the IRS, basically it is a 90-day notice. Hence, you have 90 days to file your return. Supposing that the IRS does not receive your return, they will prepare it. Keep in mind, the IRS will give you the standard deduction and not apply any credits which could lead to a higher tax.
Worst Case Scenario: As the IRS nears the ten year limit an unfiled tax return makes it more likely that the IRS will take a closer look at your entire tax situation.
FAILURE TO FILE PENALTY
The penalty is difficult to dispute because it is computed on IRS forms. You may like to review the IRS failure to pay facts page.
RESPONDING TO AN IRS LETTER
If you receive a 90-day notice from the IRS, you have 90 days to file your return and you probably should use our website to complete your prior year tax return. In the case that you do not file your tax return within 90 days, the IRS might send you a bill in the mail.
If you disagree with the bill’s tax liability you have the option to dispute it. Either you can speak with the IRS directly or file the return. The IRS could possibly accept that the bill is inaccurate and revise it. Sometimes your financial situation prevents you from paying your tax liability immediately. Depending on the amount due you can set up monthly installment agreement, if you have a significant tax due, you could qualify for an “Offer in Compromise.” The IRS will work with you to help settle your unpaid taxes.
Above all, filing your taxes could result in paying less tax due.
WHAT HAPPENS AFTER YOU FILE?
The IRS does not assess any penalties if your tax return shows a refund. According to IRS statute of limitations, you can only receive a refund within three years of the original due date for prior year returns. For this reason, if you are within the window and have a refund, you should file your tax return.
For instance, in 2018, you can still get a refund for prior year returns going back to the 2015 tax year. Of course, you must file the return by the original due date of the prior year’s return.
The amount due steadily increases per month if your completed tax return has a tax liability. Presumably it makes sense to file all unfiled tax returns.
WHAT ABOUT MY UNFILED STATE RETURNS?
Similar to the IRS, your state’s department of revenue has limitations for issuing refunds and collecting tax liabilities. That said, you should visit your state’s department of revenue website for specific information and in the meantime use our website to complete your state taxes.
HOW TO GET STARTED
So, if you have IRS Problems, Owe Taxes, have Past Due UnFiled Tax Returns and need IRS HELP – Take action today! You should work with a nationwide tax relief firm. Call Advance Tax Relief (800) 790-8574
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.
Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.
Advance Tax Relief is rated one of the best tax relief companies nationwide.
Call our team today at 800-790-8574 for more information.
For a free consultation, schedule an appointment with us online.
Feel free to also learn about us and contact us via www.advancetaxrelief.com.
However, it doesn’t matter where you live, we service taxpayers nationwide.
We have settled millions in back tax penalties and interest for our clients nationwide.
Advance Tax Relief is a Professional Tax Relief Organization
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