Haven’t Filed Taxes in a While?
How long has it been? 3 years? More? 10? Some people have never filed taxes. Why not?
“I knew I owed them, and I didn’t want to face the consequences.”
“I couldn’t gather all of my records.”
“My ex used to do them for me. I never learned how!”
“My accountant died.”
“I’m in too deep.”
“If I bring attention to the issue, the IRS is going to notice me and find things I never even realized I did wrong.”
Why Do We Have to File Tax Returns?
- It’s against the law not to file. This can be a felony… and you don’t it want following you the rest of your life.
- If you’d like to buy or refinance a house, you need to prove that you’ve filed your returns.
- If you want to get married one day, not filing can be a deal breaker because it carries tons of problems.
- The IRS might file substitute-for-returns for you without deductions and you’ll owe them more than if you had just filed yourself.
- If you owe $50,000 or more, your passport privileges will be revoked by the IRS. This means you can’t escape to Mexico before getting caught.
- If you’re self-employed, you might miss out on increased Social Security contributions for when you retire.
- You’re required to have filed to obtain health insurance.
- You won’t be able to get student loan aid for your kids (FAFSA)
- It will reduce your chances of having your identity stolen.
Do I Need to File Every Year?
Not typically, no. The IRS wants to see your last seven years of returns on file. However, if the IRS filed for you, you’ll want to replace the Substitute for Returns with returns of your own to reduce the balance they assessed. If you’re getting refunds and won’t owe taxes, you only have to worry about the last 4 years.
Alright, This is Too Much
Your Enrolled Agent will take thorough information on your tax situation and can handle this for you. Jeffrey A. Schneider EA, CTRS, NTPIF, ACT-E can determine exactly the number of years that need to be filed. He can find out whether the IRS has filed for you or not, find out whether or not you’ll be getting refunds that you may be entitled to, and set you up for future success.
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Jeffrey Schneider, EA, CTRS, NTPI Fellow has the knowledge and expertise to help you reach a favorable outcome with the IRS. He is the head honcho at SFS Tax Problem Solutions as well as an Enrolled Agent and a Certified Tax Resolution Specialist.
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Now What? I Got A Tax Notice From The IRS. Help! Defining and deconstructing the scary and confusing letters that land in your mailbox. Jeff defines and deconstructs the scary and confusing letters in a fashion that mixes attention to detail with humor and an intricate clarification of what is what in the world of the IRS.
The book is available in paperback and ebook on https://Amazon.com
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For more on SFS Tax Problem Solutions, visit: http://sfstaxproblemsolutions.com/
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738A Colorado Avenue Stuart, FL 34994
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Phone: (877) 355-8010
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https://twitter.com/SFSTaxAcct
https://linkedin.com/company/sfs-tax-problem-solutions
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