Wednesday, October 12, 2011

Missing Tax Returns -- Delinquent Tax Return -- It's Never Too Late to File


MISSING TAX RETURNS

UNFILED TAX RETURNS

DELINQUENT TAX RETURNS








October 17th, is the deadline to get your tax return filed if you requested an extension. You only have a few days to accomplish this. Hopefully, your taxes will be filed on time and that you are currently relaxing in post tax season glow. If not, here is our advice on how to get your taxes taken care of without incurring excessive fees and penalties. 

Don't Wait Any Longer - The best advice we, at Flat Fee Tax Service, Inc., can give you is not to wait any longer to file any delinquent tax returns, no matter how old the tax return is. Get your tax returns prepared and filed as soon as possible. If you get your return filed within the next couple of days, any penalties you’re assessed will be minor, and you may escape the penalties altogether. However, the longer you wait, the more you will end up owing Uncle Sam.

You Will Get Another Extension - Unfortunately, the time is now to file with the IRS before the deadline. You were given the opportunity to get an additional six months to file your return.

Be Fast, But Cautious - Although you should get your tax returns filed as quickly as you can, you still need to be accurate and meticulous. Mistakes on your taxes can cost you money through missed deductions, or improperly reported income, and can even invite an audit. Only claim deductions and credits that you are entitled to; make sure you include all sources of income on your return; and double check to make sure your Social Security number, address, and other personal information are all accurate. And for heaven’s sake, remember to sign your tax returns!

FTP and FTF Penalties - There are two types of penalties that the IRS can assess, Failure to File (FTF), and Failure to Pay (FTP). Therefore, even if you cannot afford to pay the taxes you owe, you should still file a return ASAP to prevent at least one type of penalties. If you don’t file or pay, the IRS will hit you with both. 

Payment Options - If you do not have enough money in the bank, under your mattress or buried in your back yard to pay the taxes you owe, you might want to think about paying by credit card. The IRS does accept credit card payments, just be aware that you will have to pay an additional fee, as well as interest to your credit card company. Of course, that might be a small price to pay for avoiding the stress and hassle of IRS debts. 

IRS Installment Agreement a/k/a Payment Plan - Depending on how much you owe, you may be able to set up a payment plan with the IRS, also known as an installment agreement. If you owe less than $25,000, you can use the IRS' Online Payment Agreement program to submit your application. Alternatively, you really should consider contacting a tax lawyer or enrolled agent to prepare the application on your behalf. Before you enter into any Installment Agreement with the IRS, consult with an experienced Tax Attorney 1st. Be sure that your back tax debt has been reduced to the lowest amount possible.

Substitute for Return - If you do not file a return, then the IRS will file a substitute return on your behalf. This is called a "Substitute for Return" (SFR). A "Substitute for Return" is NOT A TAX RETURN. Just because a the IRS uses the word "return" do not confuse it with an actual tax return. A "Substitute for Return" is an assessment which gives the IRS the legal requirement necessary to Levy you.This is not a good thing since the IRS will not include deductions, credits or exemptions for which you are eligible. As you can imagine, that can make your tax bill much larger than it should be. Avoid the entire mess, and file your returns, even if they are late. You have the right to go back and file your delinquent / unfiled tax returns even if the IRS filed a "Substitute for Return." We, at Flat Fee Tax Service, Inc., recommend this and will assist you in filing which will lower your "alleged" tax debt.

Get Professional Help - Remember, you always have the option to hire an experienced Tax Professional to help get your tax return(s) filed, and setup a payment plan (IRS Installment Agreement) with the IRS. Just keep in mind that many tax preparation offices have seasonal hours, so remember to call and make an appointment as soon as possible.


I am Dave Rosa, the V.P. of Client Relations with Flat Fee Tax Service, Inc. Your free and confidential consultation will be conducted by me. During our evaluation, we will come up with an action plan that will be finely tuned after we contact the IRS on your behalf. When we contact the IRS, we will know the entire scope of your IRS problem. Whatever your IRS problem may be, Flat Fee Tax Service, Inc. can resolve it. If you have delinquent tax returns that have not been filed, we can rectify that tax problem and have your Rights restored. The 1st step in reducing your tax debt is getting you to be Compliant.

WHY FLAT FEE TAX SERVICE, INC. FOR YOUR IRS TAX HELP:

  • Guided by our High Ethics and Christian Values
  • Accredited by the Better Business Bureau - A-Rating
  • Experienced IRS Tax Attorneys
  • Ability to Stop and Have an IRS Levy Released in 1 Day
  • Credible, Thorough and Reliable 
  • No Complaints
  • Positive Results
FLAT FEE TAX SERVICE, INC. FEES:
  • Flat and Fixed
  • Fair and Reasonable
  • Low Initial Retainer
  • Low Monthly Fees to Fit Your Budget

FLAT FEE IRS PROBLEM SOLVERS - Christian Values

FLAT FEE IRS PROBLEM SOLVERS - No Complaints

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1 comment:

  1. If you have any delinquent tax returns, you can do yourself a lot of good by having an experienced IRS Tax Attorney restore your Rights and reduce your back tax debt. Unfiled tax returns will spell trouble for you if you do nothing.

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