You incur IRS back taxes when you haven’t been filing your income tax returns religiously every year. Tax season can be a stressful time and there are a lot of people who tend to overlook the deadlines so they find themselves having to rush to make it in time. For those who are not so lucky, they have to incur penalties because of late filings. Things could get uglier once the government finds that you’re years behind in your income tax filing. You don’t want to have to pay IRS back taxes but in case you find yourself in this rut, understand that you do have options to get you out of this mess.
What to do
There are probably 6,000,000 non-filer American taxpayers who haven’t been paying their IRS back taxes and they think they are able to get away with it; you must not take your chances. It is, after all, your responsibility as a citizen to pay your taxes so your government can provide you with better public services. To get started, you might want to get all your tax documents together to prepare your unfiled tax returns.
You need to think back to the last time that you have filed your income tax return. Do you still have a copy of it? You will need your copy of W-2s, and other related tax documents to address your IRS back taxes. If you can’t find these documents, contact the Internal Revenue Service and request copies, or your power of attorney can obtain that from the IRS.
Get a tax expert
When it comes to dealing with IRS back taxes it’s always wiser to have the assistance of a tax professional with you. A tax expert can help you coordinate with the IRS on the best course of action for clearing your back taxes. He can also assist you in handling incomplete tax documentations. The best ones in the industry are licensed to negotiate with the IRS for the best terms that will suit your financial situation.
The good thing about working with a tax expert is that you know that you have a knowledgeable resource person on your side to help you when IRS back taxes become too confusing for you to comprehend. Understand that even the best financial experts and professionals usually need the assistance of a tax expert because if there was one person who knows the intricacies of IRS back taxes and other related issues, it would have to be a tax professional.
Get your tax returns in order
Before you worry about paying for back tax debts, you want to prepare your tax returns first. This is the most logical way to find out whether or not you really owe the IRS. In some cases, you might even end up getting a tax refund instead of incurring tax debts.
Review your tax refunds
Did you know that the late filers are the most likely to have tax refunds? Working with a tax professional on your IRS back taxes will also help you keep track of your refunds. You have to know the time limits for audits, refunds and for debt collection. When it comes to back taxes, you will need to estimate on how long it could take for you to get your tax refund checks. Tax refunds are important because they can even cover your tax debts that have accumulated over the years.
Get the help of Mike Habib, EA for your back taxes. He will personally see to your case and negotiate the best tax resolution plan with the IRS according to your financial situation. For inquiries and to schedule a free consult, contact us through this website today.
Keywords: IRS back taxes, IRS back tax help, IRS unfiled returns, past due tax returns, back tax relief, tax relief