As I represent taxpayers in Mount Laurel and the rest of New Jersey, I have seen that filing your taxes is never a fun thing to do, but if you don't file them at all then the IRS will come calling. IRS have unbridled power to file a tax return on your behalf in theirs, not your best interest.
Get Your Documentation
If you’ve been neglecting your taxes for too long, it's time to take care of things. An experienced tax resolution firm can help get things back on track and oftentimes, even if the records are missing or destroyed, there are alternative methods to reconstruct your tax return. However, only a tax resolution professional will be able to accomplish this.
If you are missing W2 and 1099 forms from past years an experienced tax resolution pro has the ability to retrieve these as well.
Go Through the Numbers
The fear of not having the money to pay has caused many people to avoid filing their returns altogether , but those worries are often misplaced.
According to the IRS statistics approximately one-third (34%) of all unfiled federal tax forms may actually be due a refund! Now that you have all the documentation you need, it is time to run the numbers. And while you may not be able to get exact figures without filing the returns, you can get an idea of how much you might owe.
Hire a Professional
Whether you are an individual, partnership or corporation there is a strong temptation to let your past mistakes go. But doing so would put both financial security and freedom at risk - which makes filing those old tax returns seem like tempting fate instead of bravely taking on the challenge ahead! It is a misdemeanor and possible jail time for failing to file legally required income tax returns. Don’t let this happen to you.
The IRS will assess a 25% failure to file penalty as well as up to a 25% failure to pay penalty, plus interest. Just filing your return, even if you can’t pay, will save you big time!
When you're dealing with back taxes, it's important to have someone on your side who knows what they are doing. A tax resolution professional can give invaluable advice and guidance about how to lower the amount that the IRS claims you owe and the best steps moving forward for your situation. You can qualify for offer in compromise, OIC, installment agreement, penalty abatement or currently not collectable, CNC. Meet with a tax resolution professional today!
You're not alone in the battle against the IRS. The IRS is ready and waiting for you, so it's best to have an expert on your side who knows how to get the help you need and deserve.
309 Fellowship Road, suite 200
Tel. 973.840.7350
Fax. 347.344.6942
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