Not filing a tax return is far worse than filing a tax return and not being able to pay the tax amount owed. Unfiled tax returns may even be considered a crime, with punishments of up to $25,000 in fines and a 1-year prison sentence for each unfiled tax year. Often taxpayers do not realize the seriousness of failing to file tax returns and avoid doing so because of financial hardships and an inability to pay taxes.
Unfiled returns should be prepared as soon as possible to limit the accumulation of penalties and compound interest. Direct Tax Relief (“DTR”) can prepare unfiled tax returns, using various substitute sources for any missing records. After tax returns are corrected, taxpayers can then complete further steps to reduce debt.
Have unfiled tax returns? Get on track with the IRS through Direct Tax Relief. Call today at (800) 505-4134 for your FREE Tax Resolution Analysis.