If you haven’t filed your taxes for years and you don’t have the records or bookkeeping necessary to file those taxes, you don’t need to worry. Total Tax Solutions has the knowledge and expertise to recreate multiple years of past tax returns for you in days, not weeks or months.
How much time does the IRS have to come after me for unfiled returns?
If you do not file a return, the IRS technically has forever to assess taxes as the statute of limitations of assessment (ASED) does not begin to run. But, some good news! The IRS policy is that if you do decide to get up to date and file old returns, you only need to go back and file for the past 6 years. In some circumstances, you may have to go back a little bit further.
Are you worried about the IRS coming after you for your unfiled tax returns? Many companies use scare tactics in order to lure you into using them to file your unfiled tax returns. However, the fact is that in 99.2% of cases, the IRS doesn’t actually follow through with prosecution. The most important thing is having these returns prepared and filed correctly. Total Tax Solutions prepares your returns correctly by obtaining your records from the IRS to see exactly what information the IRS has concerning your income. The worst thing you could do is file your tax returns and fail to show 1099’s and W2’s that you’ve received several years ago. This is the main reason why it is essential to have Total Tax Solutions pull your history from the IRS to see what income has been reported on your behalf.
What if I complete my returns and find out I owe money? And what if I can’t afford to pay it?
Even if you find that you owe money, you should still file the return. If you don’t have the money to pay, this could be the best time for us to settle your back taxes….not in the future when you actually have money. The only way to settle a tax debt is to first have the IRS recognize it with a tax return.
The IRS has several ways to figure out which taxpayers have not filed their taxes. The IRS now teams up with a number of states to combat tax avoidance. They check state records to see if you did not file your federal returns.
With the superior technology these days, the IRS has updated their computer systems. These systems scan daily to verify which individuals have returns that are missing for certain years. This is the reason why they are able to catch more people that have not filed taxes in several years. Everyone has a reason as to why they were unable to file their taxes. Many people state that they didn’t know they had to file, they forgot to file, and they thought somebody else filed for them or that they even filed for an extension of time. These reasons will not matter to the IRS. Their job is solely to get you to file your taxes so they may assess high penalties and interest to collect from you.
The only way the IRS can assess taxes against you is if you file your own tax returns or if the IRS files a substitute return on your behalf. The IRS will generally file a substitute return for you if they have a record that you earned income but there is no return filed within two years. You don’t want the IRS to file a return on your behalf; the IRS will include all of your income, but will purposely fail to include all of your deductions, which results in owing more money than you actually need to pay. If the IRS has filed substitute returns for you the solution to this is to simply have Total Tax Solutions prepare correct returns for you to bring your debt to a lower amount.
When the IRS catches up with you, they will send you an automated letter asking you to file the years you haven’t filed. In more severe cases, your file will be transferred to an IRS Revenue Officer. Everything then becomes much more complicated. A Revenue Officer is very aggressive and also has the ability to audit you as soon as they receive your returns. If you have received an automated letter, we highly suggest that you have Total Tax Solutions prepare these unfiled tax returns before your file is sent to a Revenue Officer. The IRS will require that you file your tax returns immediately. In most instances, this is difficult to accomplish, especially under duress. Total Tax Solutions is able to file your unfiled tax returns within days including forms such as 1040, 941, 1120, 1120S and 1065.
Total Tax Solutions has a direct interface into the IRS’ computer system, which allows us immediate access to your confidential records without raising any red flags. Our knowledge of the IRS gives us the background that the IRS requires in order to grant us access to their confidential taxpayer records. After your unfiled tax returns are processed by the IRS, you may have additional taxes that you owe to the IRS. If you can’t pay these taxes, we are also able to solve this problem for you with quite a few options. With our services, we can possibly have you declared currently non-collectible, submit an offer in compromise, negotiate an installment agreement or even file for an abatement of penalties. As you can see, with our great deal of experience, you need to contact Total Tax Solutions at 954-946-4142 immediately to handle all your tax return needs.
What are the options to pay back my tax debt?
Many people are very surprised to learn that you can negotiate with the IRS.
Option #1 – An IRS Offer in Compromise: In this case, you negotiate with the IRS to come to an agreement on a lump sum you can afford to pay off your debt. This is a one time payment.
Option #2 – An Installment Agreement: In this case, you negotiate a monthly payment that you can afford. Many times, you don’t end up paying the debt in full because the time the IRS has to collect the debt expires.