Clients who have unfiled tax returns generally think they must file all of their unfiled tax returns. This is just not true.
The IRS doesn’t even want you to file all your unfiled tax returns. It simply isn’t necessary.
Accountants often make this mistake and it usually ends up costing their clients thousands of dollars in unnecessary tax debt they didn’t have to have. So don’t let an inexperienced accountant talk you into filing all of them. Accountants don’t do this with the intent to hurt you, its just that they’re inexperienced in IRS rules and regulations. If they are aware of what they are doing, they are getting paid for each tax return they prepare for you, so they make more money by telling you they need to prepare all of them. Please talk to a tax specialist first before filing all unfilied tax returns.
Every unnecessarily filed tax return increases the chances you will owe more taxes than you would have had if it had been handled the right way.
Unfiled Tax Returns | IRS Inside Secrets
If you haven’t filed your taxes in years and you don’t have the financial records necessary to file those taxes, don’t worry. AAA Tax and Accounting’s team has the knowledge and expertise to recreate multiple years of past tax returns for you.
Are you worried about the IRS coming after you for your unfiled tax returns?
Many companies use scare tactics in order to lure you into using them to file your unfiled tax returns. However, the fact is that in 99.2% of cases, the IRS doesn’t actually follow through with prosecution. The most important thing is having your returns prepared and filed correctly. AAA Tax and Accounting prepares your returns correctly by obtaining your past records from the IRS to see exactly what information the IRS has concerning your income. The worst thing you could do is file your tax returns and fail to show 1099’s and W2’s that you’ve received several years ago. This is the main reason why it is essential to have AAA Tax and Accounting pull your history from the IRS to see what income has been reported on your behalf.
The IRS are Bullies Who Use Scare Tactics
The IRS punishes celebrities like Wesley Snipes simply to scare the average taxpayer into filing and paying their tax returns on a yearly basis. While in the limelight, Snipes told the government he did not file because he felt he did not have to. The government didn’t agree and consequently sentenced him to 3 years in prison.
The IRS has several ways to figure out which taxpayers have not filed their taxes. The IRS teams up with a number of states to combat tax avoidance. They check state records to see if you did not file your federal returns.
With superior technology these days, the IRS has updated their computer systems. These systems scan daily to verify which individuals have returns that are missing for certain years. This is the reason why they are able to catch more people that have not filed taxes in several years. Everyone has a reason as to why they were unable to file their taxes. Many people state that they didn’t
know they had to file, they forgot to file or they thought somebody else filed for them or that they even filed for an extension. Your reasons will not matter to the IRS. Their job is solely to get you to file your taxes so they may assess high penalties and interest to collect from you.
The only way the IRS can assess taxes against you is if you file your own tax returns or if the IRS files a substitute return on your behalf. The IRS will generally file a substitute return for you if they have a record that you earned income but there is no return filed within two years. You don’t want the IRS to file a return on your behalf; the IRS will include all of your income, but will purposely fail to include all of your deductions, which results in you owing more money than you actually need to pay. If the IRS has filed substitute returns for you the solution to this is to simply have AAA Tax and Accounting prepare corrected returns for you to bring your debt to a lower amount.
Will the IRS Catch Up to You?
When, not if, the IRS catches up with you, they will send you an automated letter asking you to file the years you haven’t filed. In more severe cases, your file will be transferred to an IRS Revenue Officer. Everything becomes much more complicated at that point. Revenue Officers are very aggressive and also have the ability to audit you as soon as they receive your returns. If you have received an automated letter, we highly suggest that you have AAA Tax and Accounting prepare these unfiled tax returns before your file is sent to a Revenue Officer. The IRS will require that you file your tax returns immediately. In most instances, this is difficult to accomplish, especially under duress. AAA Tax and Accounting is able to file your unfiled tax returns within a few business days including forms such as 1040, 941, 1120, 1120S and 1065.
Don’t Raise Red Flags
AAA Tax and Accounting has a direct portal into the IRS’ computer system, which allows us immediate access to your confidential records without raising any red flags. Our IRS experience gives us the background that the IRS requires in order to grant us access to their confidential taxpayer records. After your unfiled returns are processed by the IRS, you may have additional taxes that you owe to the IRS. If you can’t pay these taxes, we are also able to solve this problem for you with quite a few options. With our tax resolution services, we may be able to have you declared currently non-collectible, submit an offer in compromise, negotiate an IRS Payment Plan or even file for a Penalty Forgiveness. As you can see, with our great deal of experience, you need to contact AAA Tax and Accounting immediately to handle all your tax return needs.
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We offer all of the following services:
- Federal Tax Lien Release
- Wage & Bank Account Levy Release
- Personal (In-Business) Offer in Compromise
- Corporate Shutdown
- Tax Debt Financing Assistance
- Penalty Abatement (Forgiveness)
- State Tax Liability Assistance
- Currently Not-Collectible
- Innocent Spouse Relief
- Tax Return Preparation