Help With Back Taxes
Help With Back Taxes: Strategies For Resolving IRS Debt
Tax Help for Back Taxes
What Are Back Taxes
People often ask what are back taxes. Any unpaid taxes from a previous year are known as back taxes.
These could be property taxes, income taxes, or any other kind of tax due to the government.
Not paying taxes on time leads to penalties and interest charges. These charges add up over time, increasing the total amount owed.
If you don't pay your back taxes, the government may take action to collect the money.
They might file a tax lien, garnish your wages, or seize your property.
It is best to pay back taxes as soon as you can. A professional can provide tax help for back taxes. This can help reduce penalties and interest.
If you owe back taxes and are unsure how to pay them, the FTC, the nation’s consumer protection agency, advises you not to panic.
Instead, take a deep breath and consider your options.
If you are behind on your taxes and need tax settlement services, you are not alone.
Millions of Americans are also delinquent.
If You Require Tax IRS Back Taxes Help, Look No Further Than TheCPATaxProblemSolver.
Settling your back tax can leave you down mentally and financially. Keith knows how to use the IRS Fresh Start program to provide back tax help. This has reduced or eliminated tax debt for countless clients and has an impeccable acceptance rate for his OIC submissions. Learn more about the back tax relief program called the Offer in Compromise (OIC) here. But if you don’t qualify for an OIC, don’t panic. There are many options to solve your back tax problem. Check out these other Tax Relief Options
But Make Sure You Don’t Ignore Your IRS Back Taxes.
IRS tax problems never goes away without taking action! The IRS is the most powerful collection agency on earth. It has the power to impede your way to financial freedom. Remember, if you want to know more about back tax help, you can click the button below to book a free tax problem evaluation and get back tax help!
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Back Taxes Help
A back tax refers to a tax that has not been paid in the year that they were due creating taxpayers who are unable to resolve their tax problems. Unpaid back taxes can occur at the local, state, or federal levels. You should keep in mind that these unpaid taxes will accumulate penalties and interest charges on a regular basis (daily and monthly). What’s more, the IRS is known to file a substitute for return as part of their collection efforts. Once the state and the IRS complete their assessment, they can start facilitating collection actions, such as liens, bank levies, and wage garnishments. The IRS usually sends out notices regarding payment of back taxes.
They contain:
- The principal sum that the taxpayer owes
- The total interest rate that the IRS is charging
- The penalties that have been imposed by the IRS
- The final amount owed (including interest and penalties)
If you do not file your tax returns and pay on time, you also risk losing the IRS tax refunds you were originally entitled to. The IRS may offer penalty relief to people who haven’t paid their taxes because of a special hardship in limited circumstances.
The IRS may agree to waive the penalties if the taxpayer meets very specific criteria. Interest reduction is even more limited and rare. Even if these programs eliminate penalties or interest, you will still owe taxes.
Tax Help For Back Taxes
We refer to a taxpayer who has not filed their tax returns as a nonfiler. The act of not filing one’s tax returns is a crime.
You can possibly face imprisonment for a length of time proportional to each year of the unfiled tax return.
The IRS does not send most taxpayers to jail or impose heavy fines.
Individuals can face fines of $25,000, and corporations can face $100,000.
However, this does not mean it is okay to skip filing tax returns.
Despite not receiving IRS notifications, they will catch up with you.
However, we provide tax help for back taxes.
Frequently Asked Federal Income Tax Return Questions
To check for unpaid back taxes, individuals can review their tax records. They can also contact the IRS directly. The IRS offers a transcript service that shows the amount owed.
Filing previous years' tax returns requires obtaining the correct forms for each year.
Taxpayers can often find these forms on the IRS website.
Those who did not file can still submit returns to address any owed taxes.
The IRS may offer tax relief options, such as penalty abatements or settlements.
This can help lower the debt. Individuals must meet certain qualifications for these programs.
The IRS generally requires taxpayers to file the last six years of unfiled tax returns to remain in compliance.
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However, taxpayers can only claim a refund for back tax returns filed within three years of the original due date. After this period, the IRS does not accept late returns for refunds.
Tax professionals, such as Certified Public Accountants (CPAs), Enrolled Agents (EAs), and attorneys, are the only professionals authorized to represent taxpayers before the IRS.
These experts have a strong understanding of tax law. They provide valuable help, especially with back tax problems.
Choosing a representative with proven experience in these matters is essential for ensuring effective support.