Help with Unfiled or Delinquent IRS Tax Returns

Each year tens of thousands of American Taxpayers fail to file the required tax returns. This act of not filing typically contributes to more significant and more severe tax problems in the near future. Whatever your circumstance, its generally advisable to make sure you file your tax returns on time.

However, we understand that there are many reasons why a taxpayer may not have filed their tax return. Still, its important that taxpayers are aware of the following with regard to delinquent tax return filing:

Failing to file your tax returns can be construed as a criminal act by the IRS.
Failure to file is punishable by one year in jail for each year not filed.

Needless to say, it's one thing to owe the IRS money - but it's another thing to lose your freedom and go to jail for failure to file a tax return!

The IRS may file "SFR" (Substitute For Return) Tax Returns for you. In essence, this is their version of an unfiled tax return form.
Because these SFR returns are filed in the best interest of the government (and filed by the IRS), the only deductions you’ll see are standard deductions and one personal exemption. They certainly won't spend any time looking for ways to take all the deductions you deserve in order to save you money.
You generally will not get credit for deductions which you may be entitled to - such as spousal exemptions, exemptions for children, interest and taxes on your home, the costs you have incurred on any stock or real estate sales, and even your business expenses, etc.

Regardless of what you may have heard, as a taxpayer you have the right to file your original tax return, no matter how late it's filed. Doing so helps ensure you get the deductions you are entitled to, rather than overpaying according to the SFR returns. To find out how to file your tax returns for previous years and improve your tax debt situation contact us for a free consultation.