Several Reasons for Filing past due Tax Returns

by | Sep 10, 2016 | Making IRS problems less taxing

Regardless of whether or not you are able to pay your tax liability in full, you should file all tax returns that are due. The IRS may require you to file all missing returns prior to releasing any enforced collections they have taken on your paycheck, bank account, or social security benefits. Missing tax returns could prevent you from releasing a levy or a garnishment that could leave you in an extreme financial hardship. If you have missing tax returns contact us today at 772-226-7511 and we can help you. We can request your income transcript directly from the IRS to help you gather your W2 and 1099 information. We may also be able to e-file past-years tax returns as well – depending on the year in question.

Consider these reasons for filing past due returns now:

• If you owe taxes, filing your past due return now and paying your tax liability can limit interest and late payment penalties.

• If you over paid and are due a refund for withholding, estimated taxes or eligible tax credits, you risk losing that refund if your return is not filed within three years of the due date.

• If you are self-employed and fail to file your tax return and pay your self-employment tax, you will not receive credits toward your Social Security and Medicare benefits.

• If you are not current with your tax returns, you may be ineligible or face delays in securing loans, mortgages or other financial benefits, such as federal assistance for higher education, because financial institutions usually require copies of filed tax returns.

 If you owe more than you can pay – We can help. Contact us today and we can help you establish a detailed individualized plan to help you reduce and resolve your back tax issues. We have helped thousands of people all across the county save millions of dollars on their back tax issues. We have filed more than 5000 late and past due tax returns since 2010. It literally is what we specialize in. If you have missing tax returns, or worse, the IRS has filed for you, don’t wait any longer – Contact Us today!