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NEWSLETTER

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Unfiled Tax Returns

The IRS has a number of ways of discovering if a tax payer has not filed their tax return.  The first is a delinquency check of returns that, according to IRS records, should have been filed.  The second is the information Return Program (IRP), which begins with the IRS receiving information returns from payers of income.  The information returns are matched with information reported on filed tax returns.  The program identifies taxpayers who have failed to file and those who have under reported their income on filed tax returns.

There may be a number of reasons for not filing a tax return which includes missing all or a portion of tax records, personal hardship and/or neglect.  Fortunately, there are ways to approach the problem of unfiled returns.  We can help you obtain tax transcripts to determine the income that you need to report and thereby help you piece your tax return together.

Unfiled tax returns should be filed as soon as possible in order to avoid accumulated compounding interest.  Also, it should be noted that if tax returns have not been filed in the most recent three tax years, those returns should be prepared immediately in order to claim any refunds that may be due.

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