Delinquent Tax Filing & Planning

Delinquent tax filing occurs when taxes are owed to the IRS that you have not paid. Your taxes are considered delinquent once you miss the filing and/or payment deadline.

The IRS Collection Division first makes efforts to obtain the missing tax returns by mailing a letter requesting the missing tax returns.

By not filing the missing returns, you may have accrued a Failure-to-File penalty, which begins at 5% on the due date and continues for five months up to 25% or until the return is actually filed, whichever is sooner.

If there’s a balance due, a Failure-to-Pay penalty will be accruing for another maximum of 25% of the tax amount. Therefore, taxpayers aren’t achieving anything by waiting and are only increasing their tax bill. We can help you file the return and deal with the collection issue quickly.

Sometimes life just gets in the way.  You feel too busy or have experienced a divorce, illness, job loss, or death in your family that sidetracked you from filing your tax return on time. Or you could just be overwhelmed with the whole process of filing your taxes. Perhaps you don’t have the money to pay your taxes and thought you should wait to file (this is NOT a good idea).

You may also have a special situation with your spouse if they promised to file and didn’t or they don’t file correctly or they don’t pay. In some cases, you can claim that you were the “innocent spouse” and get your account corrected.

Whatever your situation, we are here for you when you are ready to get caught up, and the sooner, the better.  We can help you relieve that huge psychological burden so you feel lighter and free from all that stress.

Delinquent Tax Filings & Failure to File Your Tax Return(s)

The IRS is very aggressive about coming after non-filers and non-payers. So even if you don’t owe that much, you’ll want to file right away to stop the penalties and interest from adding up.

IRS taxes can add up fast. There’s a failure to file penalty, interest on the taxes that are late, and the taxes themselves. The failure to file penalty can be as much as 25 percent, so that’s an amount you don’t want to have pile up on you.

The most important thing about filing back taxes is to get them filed as soon as possible whether you can pay them or not. Filing back tax returns will stop the failure to file penalty and is the first step on the road back to compliance for you.

It’s never a good idea to have the IRS estimate and complete your return for you. You are better off hiring a tax professional to get you caught up and to represent your case before the IRS to work out a way to pay your back taxes that won’t leave you bankrupt or suffering financially.

We know there are many national chains out there that would like to help you with your tax problems, but all of the clients we have worked with say they prefer to hire a local tax professional in their own neighborhood.

A tax professional can help you:

  • Respond professionally to IRS correspondence
  • Help you collect records and receipts and get your bookkeeping caught up so you can file accurate returns
  • Prepare and file any delinquent income tax returns
  • Explain the next steps you need to take to continue getting back into compliance with the IRS.

Tax Returns That Need to Be Amended

There are many reasons a tax return needs to be amended. There may have been an error made when it was originally filed. It could be that a tax law changed, and amending a return puts the taxpayer in a better position. In any case, if you need to amend a return for any reason, we can help you.

IRS Correspondence

If you receive a letter from the IRS, we can help you interpret what they need you to do next. The letter could be a standard routine notice or it could be something bigger like an audit. In either case, we’re here year-round to help.

Solutions for Your Delinquent Tax Filing

Contact us at no obligation to you so we can understand your specific tax situation and provide advice on the options available to you.  Your tax issue is handled with the utmost confidentiality and privacy.

It’s time for you to stop living in fear.

Tell us your tax burdens and take the first step towards true freedom. Schedule your free confidential consultation today.