Filing Prior Years IRS Tax Returns
Our tax resolution firms believe that it is in the best interest of the consumer to file all of their past due tax returns, regardless of ability to pay. The economic consequences of unfiled tax returns are severe there is a maximum 25% late filing penalty that can be applied to the tax. Combined with accruing interest, this late filing penalty can add up to almost 50% of the original liability in many cases. Our tax specialists will work with you to prepare and file all of your unfiled returns, even if you no longer have the original records from the filing years.
True Tax Returns Filed Over IRS Substitute Returns
Most people do not know that if you do not file a tax return the IRS will file it for you. When the IRS files the tax return for you they do not take into account any of your standard deductions such as mortgage interest, spouse, children etc.. When our clients see this huge tax bill most of them just freeze not knowing that there are options. If it your right as a citizen to file a true tax return over the substitute return the IRS did for you.Once the IRS receives your true returns they will void the ones they did for you. The IRS will zero out the debt and recalculate the debt and penalties and interest based on your true debt.
1.) Whether you are responsible for collecting or paying withheld income and employment taxes. There are two main methods used to appeal IRS collection actions. The first is a CDP appeal and the second is a CAP appeal. A CDP Appeal must be filed within 30 days of a final notice of intent to levy. This allows a senior technical advisor within the IRS to review the case. This means it is being taken from the collection division of the IRS, who are far more aggressive concerning these matters. In most instances, you will receive much better results filing a CDP Appeal.