Orlando Unfiled Tax Returns Attorney

Orlando Unfiled Tax Returns Lawyer

While taxpayers are aware of their responsibility to file taxes on time, there are many issues, emergencies, and mistakes that can compound and result in unfiled tax returns. It can be stressful to realize you have debt with a state or federal tax agency, especially if you do not have the financial ability to pay them. However, you should never ignore tax debt. An Orlando IRS tax attorney can help you deal with back taxes and potentially negotiate a settlement.

Tax Smith Tax Attorneys have helped Florida taxpayers with unfiled tax returns for years with decades of collective tax law experience. We know the options for resolving or mitigating your tax debt and can review what you may qualify for. Contact us, our team has the experience and resources needed to review your case, determine your options, and negotiate with the IRS or state agency. It is crucial that you act quickly so we can provide you with efficient and reliable advice.

Reviewing Your Options for Unfiled Returns

If you ignore your tax debt, it will only collect penalties and interest, becoming a bigger issue. You could also face IRS or state agency collection actions, like bank levies, wage garnishment, and other financially devastating actions. These agencies are usually willing to work with taxpayers to reach a more favorable outcome, and an attorney can navigate this process.

At Tax Smith Tax Attorneys, we understand local, state, and federal tax codes and how they apply to Florida individuals and business taxpayers. Tax issues can be frustrating, and we provide you with the information you need to address your tax debt.

Failing to File Tax Returns

Taxpayers can miss filing their tax returns due to medical or family emergencies, procrastination, or a lack of funds necessary to pay their taxes. When you do not file, you receive a failure to file a penalty, as well as a failure to pay a penalty. These penalties add to your unpaid taxes each month in addition to interest. Penalties and interest are some of the consequences of unfiled tax returns. Other potential penalties include:

• Wage garnishment: This occurs when a tax agency removes a portion of your paycheck. Your employer must comply with this request, and a set percentage of your paycheck will go directly to pay off your tax debt. This garnishment can affect several types of income, including governmental benefits. If you’re facing wage garnishment, consulting an Orlando wage garnishment lawyer can be crucial. An experienced attorney can help you understand your rights, explore options to reduce or stop the garnishment, and negotiate with tax agencies to find a more manageable solution.
• Tax liens: A tax lien is a claim the government makes on your assets or accounts. It means the government has the right to that property if you do not pay your tax debt. A lien limits your financial ability, including your ability to receive credit.
• Levies: A bank levy allows a tax agency to freeze funds in your bank account and, after a set period, withdraw the amount necessary to cover your outstanding tax debt. This process can significantly impact your finances, as it restricts access to your funds and removes the back taxes owed directly from your account. If you’re facing a bank levy, seeking assistance from an Orlando bank levy lawyer can be essential. A skilled attorney can help you navigate the complexities of tax levies, explore ways to release your funds, and negotiate with tax authorities to find a resolution that minimizes financial hardship.
• Collection officers: When a collection officer has been assigned to your unfiled returns and tax debt case, this is a serious situation. The officer’s goal is to recover the entirety of your tax debt.
• Criminal charges: If you have willingly not filed your tax returns for many years and have refused the opportunities to resolve the debt, you could be charged with tax evasion.

The consequences you could receive are determined by the circumstances of your case. A tax law attorney can help review your unique situation and help you navigate the legal process to avoid costly penalties.

Voluntary Disclosure and Unfiled Taxes

The voluntary disclosure policies are an option for taxpayers with unfiled federal tax returns. You can voluntarily correct inaccuracies on your tax returns or file the entire return. This must be done promptly, prior to receiving a notice of nonpayment or undergoing an investigation.

This can help many taxpayers comply with the law and avoid the long-term consequences of back taxes. It’s important that this voluntary disclosure is accurate and done in good faith. Your attorney can help draft and review this disclosure.

FAQs Orlando, FL Unfiled Tax Returns Law

What Do I Do if I Have Years of Unfiled Tax Returns?

If you have years of unfiled tax returns, file your returns as quickly as you can and talk with a tax attorney in Orlando. An attorney can help you navigate your unfiled tax returns regardless of your financial ability to pay your return. An attorney can walk through the process of dealing with your back taxes, the interest and penalties, and determining your options for mitigating the financial consequences of unfiled returns.

Is There a Statute of Limitations on Unfiled Federal Tax Returns?

There is no statute of limitations on unfiled federal tax returns, which means the IRS can assess and collect any owed back taxes at any time. There is only a statute of limitation to collect unpaid taxes when the return has been filed, such as if a taxpayer made an underpayment. Because there is no limit to collecting unfiled returns, the IRS can perpetually take collection actions and add fees and interest to your tax debt.

Who Do You Call About Unfiled Taxes?

If you face unfiled taxes, you should first call a knowledgeable and experienced tax attorney. By talking with a professional, they can review your options for your unfiled returns, such as payment plans or a settlement. With their help, you can contact the IRS directly about unfiled taxes, file the returns voluntarily, and discuss your options. An attorney can represent you to the IRS during negotiations, ensuring a successful outcome regardless of your finances.

What Is the Penalty for Unfiled Tax Returns?

The penalty for unfiled tax returns varies based on your level of tax debt, how long you have gone without filing, whether you have been open to negotiating with the IRS, and whether you have avoided paying taxes deliberately. Deliberate tax evasion is a criminal offense. However, most taxpayers who fail to file taxes see fines, such as a failure to file a penalty. This penalty is 5% of the tax debt for each month the return is not filed.

Orlando Unfiled Tax Returns Attorney

If you have unfiled tax returns, it is important that you receive legal help right away. With the tax attorneys at Tax Smith Tax Attorneys, you can confidently work towards resolving your unfiled taxes with the IRS. Contact our team today, and let us put our knowledge and experience to work for you.