The IRS takes a harsh stance on unfiled tax returns. Accordingly, failing to file a tax return can lead to exorbitant penalties, and leaves you open to aggressively enforced collections.

Tip: even if you are unable to pay a tax liability at the time a tax filing is due, the tax return should still be filed on time, or as soon as possible. Filing your taxes helps minimize penalties associated with unfiled returns and is a legal requirement.

Substitute returns

Failure to file a return could result in the taxing authority filing a Substitute For Return, which often substantially inflates the taxes owed. Essentially the IRS takes a guess at what you owe and it’s never less than what you actually would owe had you filed your taxes. To complicate matters, some states recognize substitute returns as final, and after a period of time do not allow you to file replacement returns with more accurate figures. This can result in the taxpayer being liable for more money than is actually owed.

Current and Future Filings

We can help you stay on top of your taxes so that you don’t fall behind or accrue penalties and interest – and the headaches – of missing filing taxes late.

If you have tax returns that are past due and are uncertain what your next action should be, contact us today.
We can give you quick accurate answers to complex questions.