Tax Return Preparation By Experienced Tax Accountants
Filing Of Late Returns For Federal And State Income Taxes
If you have not filed tax returns, you should do so as quickly as possible. We are experienced tax accountants that provide tax return preparation services all year long. If you have a refund coming from payroll withholdings or tax installments, you must file the return within three years of the tax return due date or risk losing the refund altogether. If you are self employed and do not file, you will not receive your credits towards Social Security.
- The tax system is based on the taxpayers voluntarily filing their tax returns in a timely manner.
- If you refuse to file you are in non compliance with the law and the IRS can prepare the tax return for you which may or may not give you all the deductions that you are entitled to.
- You will get a bill for the taxes they estimated plus penalties and interest.
When the return is completed and you don’t have enough funds to pay the tax owing you should still file your return as soon as possible to avoid further penalties and interest. There are options that we can advise you of regarding payment of the taxes such as an installment agreement or offer in compromise (link).
Although the IRS has the power to do so they typically do not recommend criminal prosecution for failure to file tax returns providing you do voluntarily.
If you have received a letter or notice from the IRS or Franchise Tax Board regarding your returns or failure to file, we recommend that you contact our office immediately.
If for any reason you have gotten behind in your tax return preparation, you should take action to avoid aggressive compliance actions by the IRS and/or the Franchise Tax Board. They will pursue you until you are in compliance. As tax accountants and tax attorneys we provide full service accounting, business tax return preparation and personal tax return preparation for both past due and current returns. Please contact us today at 626-440-9518.