Falling behind on tax returns can happen for many reasons. What begins with one missed filing deadline can eventually become several years of unfiled tax returns, IRS notices, penalties, estimated assessments, and growing tax debt.
The important thing is to address the problem rather than allowing another filing deadline to pass.
Fair Tax Solutions helps individuals and business owners address IRS delinquent tax filings and unfiled tax returns, determine what needs to be filed, and develop a strategy for resolving any tax debt that results.
The IRS recommends filing all required past-due tax returns even when you cannot immediately pay the resulting balance.
Failing to file does not make the tax issue disappear.
Penalties and interest may continue to increase, refunds can be affected, and prolonged nonfiling may eventually result in additional IRS enforcement activity.
In certain cases, the IRS may prepare a Substitute for Return using information available to the agency. That assessment may not account for all deductions, exemptions, expenses, or other information that could have appeared on a return prepared from the taxpayer’s complete records.
Getting accurate past-due returns prepared and filed is therefore a critical part of addressing the larger problem.
The first step is identifying which returns are missing.
Fair Tax Solutions can review IRS information, prior filing history, available records, income documents, and other relevant information to determine what needs to be addressed.
For individuals, this may involve one or several years of unfiled federal income tax returns. For business owners, the situation can also involve business returns, payroll tax filings, or other required forms.
If missing employment tax returns are part of the problem, our payroll tax problem services may also be relevant.
The goal is not simply to file paperwork. It is to establish an accurate picture of the taxpayer’s overall IRS situation so the next resolution decision can be made using real numbers.
One of the biggest reasons taxpayers delay filing is fear that they will owe money they cannot afford to pay.
Not being able to pay the full balance does not necessarily mean you should continue delaying the returns.
Once required filings are addressed and the actual liability is known, Fair Tax Solutions can evaluate the available tax resolution options.
Depending on the circumstances, those options may include an IRS installment agreement, an Offer in Compromise, penalty relief, Currently Not Collectible status, or another appropriate resolution strategy.
This is why compliance and tax debt resolution should be considered together.
Taxpayers with multiple years of unfiled returns may eventually begin receiving increasingly serious IRS correspondence.
Once tax has been assessed and remains unpaid, the IRS collection process can potentially involve federal tax liens, bank levies, wage garnishments, and other enforcement actions.
If you have already received collection notices, waiting for another letter can make the situation harder to manage.
Fair Tax Solutions helps taxpayers determine where they stand and what needs to happen next. You can also learn more about the firm’s approach to IRS negotiation and tax debt resolution.
Fair Tax Solutions assists taxpayers with past-due returns in Georgia and throughout the United States.
Locally, we serve taxpayers throughout Marietta, Atlanta, Woodstock, Kennesaw, Smyrna, Roswell, Alpharetta, Sandy Springs and the surrounding Metro Atlanta area.
We also provide nationwide tax resolution assistance to individuals and businesses across all 50 states.
Whether you missed one return or have several years that need attention, the objective is the same: determine what needs to be filed, establish the true tax liability, restore compliance, and identify the most appropriate way to deal with any remaining IRS debt.
The longer unfiled returns remain unresolved, the more difficult it can become to understand your true IRS position.
Fair Tax Solutions can help organize the situation, address required tax filings, and evaluate the resolution options available once the outstanding returns are completed.
If you have unfiled tax returns, delinquent IRS filings, past-due business tax returns, or years of unresolved tax issues, taking action now can provide a much clearer path forward.
Start your case evaluation with Fair Tax Solutions and begin working toward getting your tax filings and IRS account back on track.
