Non-Filers: How many years do you need to file?

Services for Real Estate Pros with Tax Resolution Society LLC

The tax date of April 15th has passed. If you did not file your tax return or extension request, you are considered a non-filer. Some individuals and businesses put themselves in this situation of non-filers for many years. The internal Revenue Service (IRS) want everyone to file tax return even if you owe and cannot pay so it could put you in a payment plan. For that reason, failing to file leads to unwanted attention from the agency to those individuals and businesses. One afternoon, you open your mail box and you find a letter from IRS about the many years of returns not filed. If you are in that situation, how many years of returns do you need to file?

According the IRS policy statement 5-133, non-filers have to file at least six years of tax returns. The fact that you did not file for many years and try to pay your taxes whenever possible, lead to brutal penalties and interest charges which could add up to 25 percent of your tax bill.

To start resolving the non-filers tax situation with the IRS, taxpayers need to be in compliance first. What that means? Simply file all the required years of tax returns.

Comments (2)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share.

Thank you very much for following my blog. Your comments are always welcome.

Aug 03, 2021 04:52 AM
Kokou Michael Logossou

Thank you

Aug 03, 2021 07:12 PM
Kristin Johnston - REALTORĀ®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.Ā  Thanks for sharing and have a wonderful day!

Aug 08, 2021 06:30 AM