Not filing required tax returns can be construed by the IRS as tax evasion and considered a criminal act. This is a very serious matter, punishable by a fine of $10,000 and one year in jail for each year not filed. However, the IRS would much rather get taxpayers back into the system than prosecute the average person who makes a mistake. Regardless of why you have unfiled tax returns, the first step to resolving your tax problems before the IRS will consider any payment plan or tax settlement offer is to become compliant by filing all your delinquent tax returns. Although this may seem like an overwhelming task, the professionals at US Tax Shield have extensive experience helping people just like you become compliant leading to tax debt relief and peace of mind.
Most people who do not file their tax return are probably not aware that the IRS will likely file one for them! This is called a SFR, a Substitute for Return. Because the IRS prepares this using only standard deductions and one personal exemption, you won’t get credit for deductions you would otherwise have taken. This results in overstatement of your taxes owed, as well as additional penalties and interest.
Regardless of how late you are and even if the IRS has filed an SFR for you, you still have the right to file your original return(s). By filing as soon as possible, you could save a significant amount of money by stating what you actually owe and avoiding additional penalties and interest.
US Tax Shield will prepare and file your delinquent returns, getting you compliant and eligible to qualify for a tax settlement (such as an Offer in Compromise) or payment plan. Our experts will deal with the IRS and obtain the best possible resolution for your situation.
You Have a Right to Tax Representation
If you have been contacted by the IRS or your state’s Department of Taxation, or have received tax liens, levies, or notices of IRS intention to do so, call 877-829-3535 today for your free 15 minute tax analysis and consultation.