Unfiled Tax Returns? Here’s what you need to know.
Unfiled Tax Returns
Whatever your reason for having unfiled tax returns, it doesn’t matter. File now to avoid accruing further interest charges and late payment penalties.
Other reasons to file now without any further delay:
- You risk losing your refund if you don’t file your return within 3 years of the return due date.
- You risk not earning self-employment credits toward Social Security retirement or disability benefits, as your income is not reported for that tax year until you file your return.
- You cannot get a home, business, or higher education loan without showing the last few years of your filed tax returns.
What If You Owe More Than You Can Pay
If you owe more than you pay, don’t let that keep you from filing your tax returns. The IRS provides taxpayers with several options to deal with this issue:
- Request an additional 60-120 days to pay your account in full through the Online Payment Agreement application or call 800-829-1040. There is no user fee for this service.
- Request an installment agreement If you need more time to pay.
- Apply for Offer in Compromise (OIC) tax relief.
How to File Tax Returns for Prior Years
To get started with your past-due tax return, you’ll need to gather your wage and income information and a copy of your prior tax return. You can obtain prior-year tax forms and instructions online.
If you don’t have your wage and income information, you can complete Form 4506-T, Request for Transcript of Tax Return, and check the box on line 8. If you need information from a prior-year tax return, use Get Transcript to request a return or account transcript.
Where to File Past-Due Returns
File your past-due returns to the same place you have filed your on-time returns. If you have received an IRS Notice about past due tax returns, file your past-due return to the address cited in the letter.
How Rockwater Associates Can Help
If you are having difficulty preparing your return(s) or just feel overwhelmed with the process, call Rockwater Associates. We have expert tax consultants to help you get caught up. Whether you have 2 years or 8 years of past-due tax returns, we can help.
Rockwater Associates has successfully helped thousands of people just like you overcome tax debt, small or large. With decades of experience working with the IRS and every State, we are your best hope of reaching a better deal. Almost everything is negotiable, including back taxes.
If you choose to partner with Rockwater Associates, you will be working with some of the industry’s brightest and most experienced professionals. Our communication, honesty, and transparency in our processes make us the right choice to provide a solution to your tax debt problem. Our number one priority is providing you with a great customer experience.
Contact Rockwater Associates today and let us help you get caught up and settle your back taxes. Our services are available for both individual and business tax returns.
Let a trusted partner like Rockwater Associates help you. We provide the expertise and experience to help you navigate simple and complex tax issues.