Ponte Vedra Unfiled Tax Returns Attorney

Ponte Vedra Unfiled Tax Returns Lawyer

There are many reasons why someone may have unfiled tax returns and back taxes. Illnesses or other emergencies can pile up, or taxpayers can put off filing for too long. Some taxpayers do not have the money to cover their taxes and believe that not filing is the only option. This is not the case. If you have back taxes owed on past returns, it is important to work with a Ponte Vedra unfiled tax returns attorney.

An attorney can find the right way to handle unfiled returns and avoid the significant penalties that are associated with not filing. Whether you have one or multiple years’ worth of unfiled tax returns, a skilled attorney can help you deal with the tax debt, interest, and penalties. In some cases, there are reasons why taxpayers file late, and the IRS (Internal Revenue Service) understands those reasons. In other cases, different negotiation tactics are needed. It can be overwhelming to face these issues, but your attorney can help.

Negotiating Your Ponte Vedra Tax Debt With Tax Smith Tax Attorneys

The attorneys at Tax Smith Tax Attorneys have worked for decades in tax law, helping taxpayers find resolutions for their tax debts. We have worked with both individual and business-owning taxpayers, and our team has a deep understanding of state, local, and federal law.

Our attorneys can provide you with reliable legal advice that is tailored to your unique financial needs and particular tax debt situation. We can prove the reasonable circumstances that prevented you from filing or minimize the consequences of unfiled returns through penalty abatement or other tools.

Having unfiled taxes can feel like an overwhelming stressor, but the team at Tax Smith Tax Attorneys can help you find a practical solution and protect your rights as you deal with the IRS.

Potential Consequences of Unfiled Tax Returns

When you are behind on your tax returns, there are several potential financial penalties and IRS actions that can affect your life. If these actions are ignored, more severe penalties may follow. Some of the consequences that taxpayers could face for unfiled tax returns include:

• Tax Penalties and Interest: The IRS assigns penalties when you fail to file your tax return on time, if you underpay your taxes, or if you submit a dishonored check. A failure-to-file fee is then assessed for every month you are late, and it is a percentage of your tax debt. This particular fee is capped at 25%, but you can still receive other penalties. Your initial tax debt will also gain interest over time. These fees can add up significantly the longer you wait.
• Liens: Liens are governmental claims on your assets, including personal property, real estate, and financial assets. Creditors and financial institutions are then informed that the government has a claim on those assets. If your tax debt continues to go unpaid, the government can seize those assets to cover the tax debt.
• Levies: Levies can be placed on bank accounts, freezing your account and allowing the IRS to withdraw the amount that you owe in taxes after 21 days.
• Wage Garnishment: The IRS can also collect unpaid back taxes by requiring your employer to deduct a percentage of your wages to send directly to the IRS. If you are self-employed, the IRS can garnish your accounts receivable. Wage garnishment can also affect certain benefits.
• Collection Officers: If a collection officer or revenue officer is working on your case, the situation is very serious. It’s important to work with a tax attorney when these people begin contacting you.
• Criminal Charges: Criminal charges can be pressed when you have unfiled tax returns, if you willfully failed to file your taxes for some time, and when you have not taken offers to resolve the debt. You can be charged with tax evasion or tax fraud and face fines, jail time, and other criminal penalties.

Having unfiled tax returns also makes negotiation and resolution of future tax issues more difficult, and it can impact your credit. It’s important to work with a skilled attorney in Ponte Vedra as soon as possible to avoid long-term consequences.

FAQs

Q: Can a Tax Attorney Negotiate With the IRS?

A: Yes, a tax attorney can negotiate back taxes and other issues with the IRS. Depending on the programs that you, as a taxpayer, qualify for, an attorney may achieve:

• An offer in compromise
• The installation of a payment plan
• Penalty abatement
• Protection for your assets and property from IRS tactics

Tax attorneys are legally able to represent you to the IRS and protect your interests. It is much less stressful to navigate tax issues with the help of a skilled attorney.

Q: What Do I Do If I Have Years of Unfiled Tax Returns?

A: If you have years of unfiled tax returns, it’s important to file as soon as possible and speak with an unfiled tax returns attorney. They can help you navigate the process of contacting the IRS and determining what steps have already been taken. Your attorney can request additional time to file or negotiate to stop liens, levies, or other actions. If you are unable to afford the tax return filings, your attorney can determine your options for payment plans or other relief.

Q: How Do I Contact the IRS About Unfiled Taxes?

A: You can contact the IRS for filing help if you have unfiled taxes, and you can also simply file past returns voluntarily. You can also discuss your situation with an unfiled tax return attorney, who can help you take the right steps, especially if you are unable to pay the amount required by your tax returns. Your lawyer can provide you with qualified legal advice about your options for lowering your immediate tax burden.

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

A: There is no statute of limitations on unfiled federal tax returns. This means that the IRS can take actions, including adding penalties and interest, on any unfiled tax returns throughout your life. However, the IRS does not always require you to file every tax return if you have years of unfiled returns. Instead, the agency typically requires the past six years of unfiled returns. It may require more if the liability is significant or fraud is suspected.

There is a statute of limitations of three years for a taxpayer to receive a refund from the return.

Tax Smith Tax Attorneys Can Help Find the Right Solution for Your Unfiled Returns

If you have back taxes and are unsure how to handle them, contact Tax Smith Tax Attorneys. We want to help you find the right resolution.