Unfiled tax returns are a common problem, but are a very serious problem that requires you to take action ASAP. While the IRS has only six years from the date the non-filed return was due to criminally charge you with failing to file a tax return, there is no time limit for collecting taxes and assessing financial penalties for not filing. It is not until you actually do file a return that the audit time limit of three years and the collection time limit of ten years start to run.
If you voluntarily file your old tax returns before the IRS notifies you that you are under criminal investigation, the IRS will usually not prosecute you criminally for your original failure to file those tax returns. This is why you need to take immediate action. You want to file the past due returns before the government opens a criminal investigation against you.
Failure to pay your taxes is not a crime – but it is a criminal offense to fail to file your tax returns. For this reason, you need to act now to file any past due returns. If you cannot pay the tax (which is often the case for our clients) we help with that problem and keep the matter under control.
If a taxpayer fails to file a return, the IRS may submit what is called a Substitute for Return (SFR). This is submitted by the IRS for you using their best guess of your income based on your bank deposits and other financial records.
The SFR is often the “worst case scenario” and grossly exaggerates your tax liability. Additionally, the Statute of Limitations does not begin to run when the SFR is computed by the IRS. As bad as it seems to fail to pay your tax debt, the problem is often made much worse by failing to file your returns on time.
StopTaxDebt.com’s team of attorneys and accountants are experts in getting past tax returns filed. Our staff can take years of uncoordinated financial records and produce accurate returns so that you can file them and gain control over this problem.
"StopTaxDebt.com successfully prevented the IRS from assessing the civil penalty against us. They saved us approximately $300,000"
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