Almost all working adults, as well as many who are retired, must file a tax return each year. However we know there are many cases where this might be misunderstood, where filing was not possible at the time, or instances where taxpayers chose not to file because they could not pay a tax debt. There are a variety of other reasons for unfiled tax returns or taxes filed late. It is important to understand that though there are options available for fixing this problem, problems with back taxes do not simply go away on their own. If you have years of unfiled tax returns, late tax returns, or returns that were not properly filed, you have probably already encountered problems. Our Connecticut CPA and tax attorney can help you solve them. From our offices in West Hartford, New Milford, and Danbury, Connecticut, we help taxpayers throughout the state and across the country. With a visit to one of our offices or a simple phone call or email, you can get the unfiled returns help you need and jump on the path to back tax relief.
Yes. Just because you haven’t yet received a notice about your unfiled returns doesn’t mean the IRS is unaware. Many people think they should “wait it out,” hoping the IRS won’t notice, but this is not a good idea. If you do not address your back taxes, the IRS will figure out what you owe for you, and then deliver their conclusions. In fact, the IRS can legally file your taxes for you if you don’t, and this will create the largest tax debt possible. It is better to file your returns late, make the calculations yourself, and address the problem right away. Waiting for a notice from the IRS might mean waiting for a lien or levy, which is a much more complicated situation than filing back taxes.
The rule of thumb for keeping records and filing late returns is three years. However this three-year role does not apply to unfiled returns. If you have back taxes, give us a call or send us a message and our Connecticut CPA and tax attorney will help you determine the best course of action. If you wait for an IRS notice, this will likely appear in the form of a lien or levy (seizure) of your bank accounts or property.
If unfiled tax returns are hanging over your head, the best course of action to take is filing. Our Connecticut back tax relief CPA and tax attorney will help you arrange the proper documents, file past returns, and reduce your tax debt as much as possible. Strategies are available to help you reduce your tax debt, but most of these cannot be used if you have back taxes. If you owe a significant tax debt from delinquent returns, misfiling, or taxes simply not paid, this is a good starting point to resolve it. If you address your outstanding debt before the IRS takes action, you will not be caught off-guard by liens or levies, and you will have a better negotiating position.