Frequently there are taxpayers that do not file individual or business tax returns for one or more years for various reasons. Missing all or a portion of their records and documents, personal or financial hardship and/or neglect are one of many reasons to fall behind.
Direct Tax Relief (“DTR”) can prepare past returns using various substitute sources when there are missing records. Those returns should be filed as soon as possible in order to avoid accumulated compounding interest and large penalties. You should also be aware that if returns have not been filed in the most recent three tax years, those returns should be prepared immediately in order to claim any refunds that may be due.
Not filing a tax return is far worse than filing a tax return and not being able to pay the tax amount owed. If you file a tax return but cannot pay, DTR has many tax solutions to help you pay the tax amount owed. If you do not file a tax return it is considered a crime and you can be punished for it. Not filing a tax return can result in fine up to a $25,000 and a 1 year prison sentence for each unfiled tax year. Recently, the actor Wesley Snipes was convicted of failure to file tax returns for 3 years and sentenced to 3 years in prison.
Call today at (800) 505-4134 for a FREE Tax Resolution Analysis.