We all know the annual ritual: once January rolls around, you gather your tax documents to file your tax returns by the deadline.
Sometimes (or maybe all the time!) you need an extension. And maybe you don’t meet the extended deadline, and now your return is late and unfiled.
Then the next tax season rolls around, and you still haven’t filed last year’s return—so you don’t want to do the current one either, out of fear of the IRS or because you need last year’s data.
Now your problem is snowballing—and if you let fear grip you, it can continue for years . . . before the IRS decides to do you in. Don’t let this problem get ahead of you. Let us give you a road map for achieving peace of mind by getting right with the IRS.
If you have late, unfiled tax returns, you have an urgent problem that you should start to fix ASAP. The possible consequences include:
- The IRS preparing and filing a return for you and almost always overstating the tax you owe by a lot!
- Criminal prosecution
The truth is that the IRS rarely criminally prosecutes people for not filing tax returns, but this can and does happen, especially in egregious cases and those of celebrities and public figures, such as Wesley Snipes.
The best way to avoid criminal prosecution is to come forward and voluntarily file any delinquent returns.
The IRS has a time-honored policy that, in general, it will not criminally prosecute for failure-to-file those taxpayers who come forward and file their past-due tax returns.
If you need assistance and come up with the best strategy to deal with your unfiled tax returns, back taxes, and penalties. We are offering a free tax debt strategy session, just book at appointment at MeetWithCarlosS.com
Your tax debt consultant,
Juan Carlos Samaniego, EA
Enrolled Agent -NTPI Tax Fellow