One of the most common problems taxpayers face — and one of the easiest problems to resolve — is having unfiled tax returns. It’s easy to mess this up. Maybe you got divorced, or you were sick, or you didn’t have the money to pay an expected tax bill, or you moved and lost paperwork, or maybe you just forgot? These are some of the reasons taxpayers forget to file or fail to file.
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Fixing Those Unfiled Tax Issues
But failing to file doesn’t mean you’re headed for a disaster with the IRS. Often, it’s a simple matter to get the paperwork you need and filing your missing tax return. And the best part is — you might actually get a refund. Yes, every year, the IRS sends refunds to taxpayers who filed late — a year late or two years late, or even three years late.
But you have to remember that after about three years, the IRS doesn’t have to send you a refund even if you were entitled to one, as there are limits on how long the IRS has to pay you.
When The IRS Knows You’ll Know
Many taxpayers forget about unfiled returns until they get a letter from the IRS. That’s when you need to talk to a tax professional right away — such as the tax pros at Legal Tax Defense. They can review your case and let you know if you need professional help or if you can fix the problem yourself without any fees and without paying the IRS as well.
Unfiled Returns Can Delay Other Help
If you do have other tax problems, including money owed for other years, you will have to catch up on those unfiled returns in order to qualify for special tax relief, including the Offer In Compromise Program or the Fresh Start Initiative. Your tax professional at Legal Tax Defense can discuss this with you.
Fast Action Saves You Money
And if you do happen to owe money for a tax return you didn’t file, the tax pros at Legal Tax Defense can help you get the best resolution possible. You may not have to pay that hefty 5 % per month penalties and other interest charges when you have tax professionals working on your behalf.
But remember the best part about talking to a tax professional: they could find that the IRS owes you money. So, make the call.