Troubleshooting Unfiled Tax Returns
Unfiled tax returns can lead to serious problems. It’s not as simple as figuring out how to file old tax returns and get caught up, either. The penalty for not filing taxes can include additional charges added to your liability, financially damaging collection action and even legal trouble. Your failure to file tax returns can lead you down a path rife with financial turmoil. But you have the power to turn it around.
Filing Old Tax Returns Is a Good Start
Your first step when filing past tax returns should be to look at every tax year in question. Closely. If you’re not too far behind, and especially if you don’t owe, how to file past taxes isn’t all that difficult. In fact, depending on the circumstances, this may be something you can do on your own. Before your file old tax returns, determine what (if anything) and how many years are involved. This will help you decide how to proceed.
Unfiled taxes can often be as simple as completing your returns online. After you’ve reviewed your finances and determined that there is no liability, file past taxes and make sure you retain the information (for more information on how to file taxes from previous years/how to file previous years tax returns, visit IRS.gov.). If you suspect that you’re going to owe the IRS, or you’re dealing with several years at once, consider getting professional assistance.
When you’re considering how to file previous years’ returns and potential back taxes are involved, a licensed tax professional is a good friend to have. Such a professional can handle not only filing taxes for previous years, but also put together a plan for paying back any tax debt you might have incurred along the way. A seasoned tax professional knows how to file taxes for previous years and how to minimize the burden to your finances.
In addition to contesting penalties for not filing taxes, a tax pro can help you stretch your dollar. For instance, when you file past tax returns, you may still be eligible for credits and deductions that will mitigate your liability. Depending on how far back you’re filing past due tax returns, you may even still be eligible for a refund. So, when you consider how to file past tax returns, first consider who you’re going to get to help you.
Finding the Right Professional for Filing Past Years Taxes
You might already know how to file old tax returns, but that doesn’t mean you should. So, if you considering getting unfiled tax returns help, you want to find the right person to help. A tax resolution company, such as Tax Defense Network, LLC, should come with years of experience. And a company that employs licensed tax professionals should be able to answer “How do I file taxes for previous years?” during a no-cost consultation. You might even be inclined to ask, “can I file taxes for past years?” and the answer they give you should be a resounding “yes”.
A reliable tax relief organization can file past years taxes, execute a formal resolution between you and the IRS, and advise you on how to stay on track for future years. Don’t make the mistake of thinking that filing old taxes will necessarily be simple; accept a consultation before deciding. Although not filing tax returns can be damaging, a little due diligence can prevent the issue from worsening. A licensed professional understands how to file tax returns for previous years in a way that yields the best, possible financial outcome. Filing taxes from previous years? Consider a tax pro and don’t wait too long.