Filing Tax Returns Late Better Than Not Filing at All
Posted by taxreliefattorneys on August 24, 2010
Filing your tax returns late is better than not filing them at all, and the earlier you file them the better. Having unfiled returns pile up year after year will only accomplish two things. One is that you will wind up paying a great deal more money in penalties and interest. The other, which will exacerbate the first thing quite a bit, is that the IRS (and state) will generate tax returns for you. And it’s not like they are going to spend a great deal of time itemizing your deductions to ensure you pay as little as possible.
One common myth regarding returns is that if the IRS does file a return for a tax year that you have ignored, you are stuck with it. Nothing could be further from the truth. You have the right, as a U.S. taxpayer, to file your own tax return on your behalf. Or, of course, have a professional tax preparer to do so on your behalf. For many people, once they miss a year or two, guilt and anxiety over not filing build up and become more unbearable year after year . People fear that finally dealing with their tax debt will result in discovering a mountain of back taxes that they are unable to pay.
If the IRS forces your hand, and sends out an intimidating demand for payment, or threatens to file a tax lien or levy on your bank account or personal property, immediate action will be necessary to keep your head above water. You would be prudent to contact a tax attorney, accountant or other tax relief company to represent you. Even if you are not currently being threatened by the IRS, you can often negotiate a better deal with the IRS if you have the tools.
Tax relief companies have these tools; they specialize in people’s tax problems. Whether you have a couple of unfiled returns, or 20, they can immediately stop any negative action taken against you by the IRS. Remember, even non-filers can end up paying less than they thought, and even get refunds! The sooner you make that call to a tax relief professional, the sooner you can breathe easy and put your tax problems behind you.
Disclaimer: The information contained in this article is in no way intended for use as legal tax advice. No assumption should be made that a tax attorney, enrolled agent or former IRS employee was involved in the creation of any content herein. Advice on personal or business tax matters can be obtained by contacting Advanced Tax Help at (800) 970-8704, or by logging on to www.advancedtaxhelp.com



