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Non-Filed Tax Returns

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Pursuing taxpayers who have not filed tax returns is one of the top 5 areas of focus for the IRS.  When Congress pushes the IRS to collect more taxes, the IRS continually comments that non-filers is one area it believes is a large opportunity to increase tax collections.  In fact, much of the most recent legislation is providing the IRS with more ability to identify unreported income and non-filers.  The IRS constantly promotes legislation that increases its ability to identify non-filers.

In addition, the IRS has a tremendous amount of information available to them to use computerized techniques to track non-filers.  Whether it's your bank account, brokerage account, your employer, or the company you worked for as an independent contractor; all are required to report information about you to the IRS.

One of the IRS most powerful tools to motivate non-filers is to file a substitute for return (SFR) for them.  This is usually done by collecting the various W2s and 1099s and calculating a tax due, usually under the most unfavorable interpretations of tax laws.  Once the substitute return has been filed, the IRS then proceeds to collection efforts on the taxes they determined you owe. Added to that tax bill are penalties for late filing, late payment, as well as interest the adds to the tax debt.  One rule of thumb is that the tax debt will generally double in 7 years due to penalties and interest.  So the longer you wait the worse the problem gets!

Fortunately, we can help you with your unfiled tax returns and related tax debt.  We are versed in a variety of approaches to work with the IRS in resolving your unfiled tax returns, from filing original returns, evaluating interactions between multiple tax years to reduce tax debt, and how to properly present your tax returns and circumstances to the IRS to minimize tax debt and related penalties.  

Whether the IRS is pursuing you for unfiled returns, already filed them on your behalf, or you are still haven't quite made their priority list, we can give you peace of mind by getting your prior year tax returns filed, developing a payment strategy, and getting you back in compliance with the law.

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