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How to Make Things Right with the IRS When You Have Unfiled Tax Returns

Posted on : January 8, 2018

Unfiled tax returns might seem like a minor issue if you’ve just missed the tax deadline, but if you allow too much time to go on, you could be facing significant penalties and problems with the IRS. Thankfully, consulting with an experienced unfiled tax returns lawyer in Orlando, can help you rectify this situation.

Don’t let too much time go by without trying to fix your unfiled tax return situation. A lawyer can help to represent you when you’ve fallen behind so that the potential consequences can be minimized.

The IRS typically requires that the last six years of tax returns need to be filed in order for a taxpayer to be considered compliant and current. If you have already fallen behind and have unfiled tax returns, one of the most important things you can do is gather your information and schedule a consultation with a tax attorney. Do your best to pull together the records for the years in which you did not file. This might include W2s, 1099s, stock sales, dividends, and interest. This is just a starting point so do not hesitate to take action just because you are missing records. Securing internal IRS transcripts may also identify what has already been reported to the IRS such as a comprehensive listing of W2s and 1099s already sent to you.

This is an opportunity to verify your records with that of the IRS. If you fail to complete your own unfiled tax returns, the IRS will go by what they have, meaning that nay expenses and deductions you might have previously claimed will be missed entirely. Business income and expenses have to be identified if you are self-employed. Piecing together your income from multiple different methods can be achieved by talking directly with an experienced tax attorney who knows how to avoid many of the most common problems and challenges associated with becoming IRS compliant. The sooner you schedule a consultation with a lawyer, the more confident you will feel in addressing your unfiled tax returns.


Posted by: The Krus Law Firm

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