What You Should Do About Un-filed Tax Returns?

Get Compliant. Filing tax returns for every year you have or may have a filing requirement is always the best solution. There is no statue of limitations on un-filed tax returns. If the IRS discovers you had or may have had income in a year with an un-filed return they can file the return for you with a substitute for return (SFR).  The SFR will be for the maximum out you could possibly owe based on the income data the IRS has. It will not include the exemptions, deductions, and credits you may be eligible for.  Once the SFR is filed the tax will be assessed and they will begin collections.

Reconstructing past tax years can be difficult if you do not keep adequate records. When building past tax returns I work with taxpayers to identify the missing information and reconstruct the data so they can submit accurate returns. Equally important is ensuring they are not paying any more then they are legally obligated to pay. The first step in nearly all of our resolution cases is ensuring the client is compliant with at least the past six years on personal income tax returns.

This is often a daunting task. If you have un-filed returns you want to become compliant before the IRS starts to create SFRs. If an SFR is already on your account you need a proper return for that year and you need to ensure all of the other relevant years are compliant. As an enrolled agent I will help you file the appropriate returns. If you owe money after filing I will ensure you are not paying more than you can afford. Don’t wait for the IRS.  Contact us today and get compliant.

Published by Matt Wright

I am an Enrolled Agent authorized to represent taxpayers in any matter before the IRS. I have an MBA and Master of Arts in Technical Communication from Texas Tech University. Have you been contacted by the IRS about on audit or collections? Do you need help preparing your taxes? Call me at 972-521-7800 for a free consultation.

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