Clients come to me to resolve outstanding tax issues with the IRS and state revenue offices.
Often they are several years behind in filing personal tax returns or business returns. The first step in the resolution process is to bring the taxpayer into compliance. Bring them current and keep them current.
So, what does tax compliance mean to the IRS?
Before they will accept any type of settlement offer, all prior tax returns must be filed. This includes 1040's for the individual and 941's for business payroll reporting. The IRS monitors to assure client is remaining compliant during the settlement phase.
What happens after the agreement has been signed and initiated? The IRS expects that all future reporting requirements are kept up to date. Reporting must be kept current until the terms of the agreement have been fully realized.
What if there's a lapse in filing and become you become non-compliant? The IRS has the option to terminate the settlement agreement and begin immediate collections procedures. There are some options to save the agreement if you contact the IRS immediately.
If you or someone you know has unfiled tax returns and or some other federal or state tax issue, please feel free to contact me at either (407) 287-6638 or by email @firstname.lastname@example.org.
Lake City, Florida
Ph. (407) 287-6638
Fax (727) 270-8947