Owe Back Tax Returns?

Quickly resolve back tax issues to avoid IRS nightmares

Whether it was a hurricane, COVID-19, a business problem, life issues, or just letting your compliance focus slip, there is always a story behind why you need to complete back tax returns. We promise you that we won’t judge you, and we’ve probably heard worse reasons than yours, so let’s start the process of getting your tax return situation caught up. The faster your resolve the back tax issue, the sooner the IRS or state agency stops sniffing around for more problems.

Back Taxes

Need Back Tax Returns?

How do we handle your back tax returns?

If you are ahead of the IRS, fantastic, but usually the IRS triggers the process. So if the IRS has already started breathing down your neck, the back tax returns are normally handled as part of your IRS Representation engagement. If we are not representing you for the IRS, the first challenge is to gather whatever records you have, which might be bank statements, and start to assemble the records necessary for completing what accounts call a “write-up,” essentially a quick and dirty set of business books to complete a tax return. After assembling your tax returns, we will review them with you before submission to the IRS, and then develop a “go-forward” plan to prevent this from every happening again.

You’re not a bad Person

This is a common problem

Many people have fallen behind with the IRS, even accountants. You’re not a bad person, you just didn’t submit your paperwork. Running a business is hard, and when things get tough, business owners heroically try to “do it all.” Unfortunately, in keeping the business running, keeping sales and revenue flowing, and keeping your employees and contractors paid, sometimes filling out your paperwork slips. Sometimes you’re worried that you’ll owe a lot in taxes, and just can’t get yourself to file. Whatever the reason, you’re not alone, this happens to many many people. We’ll get you up to speed as fast as possible and help minimize the taxes, fines, and interest as we get you back on track.

And Staying Current?

What about my current returns?

Generally, tax returns have to be done in order, because information on one flows into the next year. However, each situation is different, and we may need to file current returns to avoid penalties and interest, knowing that we’ll have to amend the return after you catch up. Each situation is different, so let’s talk about your situation and help you resolve it, and avoid these problems in the future?

Penalties and Interest?

Forgiveness? Settlements? Avoiding penalties and interest?

We can often get the IRS to remove or reduce penalties as you move into compliance, but interest is a much harder sell. Fortunately, in this zero interest rate environment, the IRS Interest rates aren’t as high as they’ve been in the past. However, each situation is different, and the IRS has flexibility to work with IRS Resolution specialists like us to help your resolve your issues. By having a full IRS Compliance plan, showing the IRS that you are not going to repeat the problem, you are much more likely to get these matters resolved to your liking.

If I Do Nothing?

What happens next?

More importantly, if you don’t resolve the matter, the IRS will make it extremely costly. The IRS Page on filing past due tax returns covers the details, but they can create a substitute return which will be far worse than reality, and then start assessing penalties and interests against this fake return. But once we start the IRS Resolution and Back Tax Return process, we can stop the situation from getting worse.

We Can Help

This Nightmare Does End!

We’ve helped clients like you before. Even if it turns into a full blown IRS Audit, we can help resolve this quicker than you think. Schedule that Zoom Meeting today, and let’s start ending your IRS nightmare so you can turn the corner and focus on growing your business.

Success doesn’t just find you. You have to go out and get it.

Your Success is Our Success!