Should You File Your Taxes From Last Year If You Haven’t Yet?
Absolutely! The most common mistake that late filers make is putting off this kind of responsibility until the next tax season. While it’s most certainly your choice to do so, we highly advise against this. The sooner that you take action in addressing your tax responsibilities, the least likely it is that you’ll have to deal with tax debt.
You Can Run, But You Can’t Hide!
While some people may have think that they’ve gotten away with not filing their annual taxes, it’s only a matter of time before the Internal Revenue Service (IRS) finds out. It’s much better if you address these neglected filings before the IRS does. Putting them off only results in late penalty filings and if your annual tax filings states that you owe the IRS, then you’ll also be charged with late payments—and they are sometimes added on a daily basis! This is the main reason that you absolutely do not want to wait another second to file your annual taxes.
There have been instances where people may have gone multiple years without submitting an annual filing. If you happen to be one of those people, we encourage you to swiftly take action to rectify this matter. There are a couple of ways you can take care of this error:
Option #1: Call the IRS.
You can call the IRS and explain your situation to them. Many people might be intimidated by this as if they might scold you or slap you on the hand, but that shouldn’t be the case. The IRS representatives are expected to handle all of their cases in a professional manner. If for some reason you do not feel that you are being treated fairly, you reserve the right to ask for another representative or even request to speak with their supervisor. It could be said that paying any type of fee or penalty might sting a little, so truthfully the only slap on the hand that you’ll get is the penalty itself!
In some cases, depending on what type of IRS form you’re qualified to file with, the IRS representative might be able to calculate your delinquent filings and present you with the amount that you need to pay, even if one or all of those filings results in a refund. Chances are, that refund might need to go towards those late filing penalties. And if for some reason, that refund isn’t enough, you will still be expected to pay the IRS what you owe in full. If you aren’t financially able to do this, then you can always arrange some type of affordable monthly payment installment.
Option #2: Call a tax relief firm.
It’s understandable if this might all seem like a bit much. That’s why there’s another option: get someone to do it for you! You shouldn’t just hire just any average tax consultant either. Finding a reputable tax relief firm that has years of experience under their belt is where you will get the most out of your money. Success Tax Relief has over 30 years of experience communicating with the IRS on our client’s behalf successfully resolving any tax debt matters. To learn about all about Success Tax Relief services, visit their official website here. Call 1-877-825-1179. You can email them or contact them through an online form today!