With a new year comes a recurring nightmare for millions of Americans have who fallen behind on filing their tax returns. They are dreading a threatening letter from the IRS, but are so overwhelmed they do not know where to begin.
The good news is that there is a solution. The first thing we do when we are retained by a taxpayer with unfiled returns is to get the IRS transcripts. This tells us whether the IRS has already filed the returns based on information they have. We also obtain the income information showing what has been reported to the IRS that year. When they do file substitute for returns, they do not take all of the deductions the taxpayer may be entitled to. We can then file past due tax returns correctly which may lower the balance substantially.
Some of my clients in Miami, Florida have not filed tax returns this century. The IRS policy is only to require the last six years of returns, meaning that we only have to go back to 2016.
For many people, the IRS is their biggest problem. Sometimes, it is their only problem. Make this the year you catch up and put the nightmare behind you forever. Contact us today to help with the nightmare of unfiled tax returns.