Unfiled tax returns (aka delinquent returns) are a common occurrence with taxpayers and are considered a high priority by the IRS. Along with unfiled returns, taxpayers often also have an outstanding tax liability or tax lien that need to be addressed. This is because the IRS will typically file a tax return on behalf of a taxpayer, using the income information they have on record, and then begin collection actions. These IRS (or State)-prepared tax returns are called “substitute-for-returns”, or SFRs. The resulting tax balances are almost always overstated and can be adjusted by filing an original return. Taxpayers in this situation should be aware that negotiating with the IRS cannot commence until all delinquent tax returns are filed (but not necessarily paid). Before the IRS can consider a tax settlement or a payment plan, the agency will demand that all tax returns be filed. Meeting this requirement will establish “goodwill” with the IRS and help facilitate a resolution of your tax dispute. This is not a situation to take lightly, as failing to file your tax returns is a criminal offense which taxpayers can be prosecuted and punished for, possibly with jail time.
All taxpayers with unfiled returns are assisted by our CPAs and former IRS Auditors. We will review your filing requirements with you and provide you with an explanation of the appropriate actions needed to get you into filing compliance. Taking into consideration all applicable deductions and credits, we will help you prepare your individual and/or business tax returns and submit them to the IRS and State taxing authorities. If applicable, we will seek removal of any related penalties and interest assessed against your account, such as “failure-to-file” penalties, and then follow up to address any balance due on the return. As former IRS Auditors and IRS Officers, we know how the IRS works and how to protect you and your assets. Request a FREE consultation with our ex-IRS agents. (We proudly serve taxpayers in all 50 States.)
For help with unfiled IRS or State tax returns, contact us today at 1-949-260-4770 for a FREE and CONFIDENTIAL consultation with our CPAs and former IRS Agents.
We look forward to serving you.