Tax Resolution
Unfiled Tax Return Professionals
Get Past Due Returns Filed Quickly
Not filing your tax returns for years at a time can lead to serious consequences. It is not advisable to ignore your annual tax filing because the IRS will almost always catch up with you.
What happens when you do not file your tax return:
- The IRS will often file one for you
- The IRS prepared return will often result in a much higher tax liability than your original return would have shown
- They then will expect you to pay the taxes they claim you owe
- They will start with threatening letters
- Then they will begin the process of wage garnishments, tax liens, and tax levies
Our Chicago tax firm has developed an effective process to stop this from happening even if you have unfiled tax returns today.
Remember These 4 Things Before You Choose Not to File
Every year, most citizens and US residents are required to file their personal tax returns with the IRS. Sometimes this includes a payment of any taxes that are owed. When you do not file your taxes, you become exposed to IRS enforced collection measures.
When you have unfiled tax returns, there are four things to keep in mind:
- Failure to file a tax return could result in a Substitute for Return (SFR) filed by the IRS
- Tax refunds are only available for the previous three years of unfiled returns
- Once a garnishment or levy has begun, it is difficult to stop until you are in compliance with filings
- In some circumstances, failing to file your taxes is considered criminal behavior and is punishable by incarceration
How an SFR Works
A Substitute for Return (SFR) is filed when the IRS prepares a tax return on your behalf because you have not filed. Because the IRS often does not have all of the pertinent information, SFRs can reflect the highest tax liability and the IRS then will hold you responsible for this amount plus any unfiled tax return penalties and fees.
It is possible to correct an SFR, however, by consulting with the professionals at our Chicago tax resolution firm. When necessary or advantageous, we can prepare previous years returns and file them on your behalf. This will bring you into compliance with the IRS filing requirements and will often significantly lower or even eliminate your tax liability.
The Tax Defenders Can Advocate For You
By working with our Chicago tax resolution firm, you can manage any problems that unfiled tax returns may have caused. We have served 16,000 customers over the past twenty-one years and know how best to help. We know how stressful working with the IRS can be and we can handle it for you.
