Filing Back Tax Returns: Tips & Tricks

Posted on 28. Apr, 2012 by in Back Tax Returns, Back Taxes, How to File Back Tax Returns

One of the most common problems that taxpayers face is filing back tax returns.  Taxpayers do not have the financial means to pay the potential tax liability so they file late or worse, do not file at all.  Not filing tax returns is considered a crime and can result in additional financial liability through stiff penalties.  Avoidance of filing the tax returns becomes a cycle that is very difficult to recover from.

The problem will not go away by itself, but the situation is not hopeless.   Attorneys and tax relief counselors specialize in helping taxpayers recover from non filing.  Some taxpayers may have not filed the previous year’s return, but many have not filed a return for many years.  A reliable tax professional can educate tax payers in the correct way to file back tax returns and negotiate with the IRS to settle the tax debt through a number of means.

When taxpayers do not file taxes, the IRS will generate a substitute return for the taxpayer.  In this case, the tax assessment may not be accurate and there may have been deductions that the taxpayer was eligible to claim that would lessen the amount owed.  For this reason, it is better to file a return without payment than to not file at all.  Even if the taxpayer has no records or document history to work with (W2’s, receipts, etc) for the return filing year, qualified tax professionals can assist the taxpayer with filing back tax returns.

We are committed to helping you with your back tax returns.  Our experienced team of CPAs and tax professionals know how to deal with IRS tax issues.

Call us now at 1-888-570-1033 for a FREE consultation.

 

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