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The Basics of Back Taxes Filing
By Darrin Mish of Law Offices of Darrin T. Mish, P.A.
The Basics of Back Taxes Filing People do not file their taxes for several reasons. The inconvenient reality, however, is that the IRS still requires the filing of late and back taxes even though most of the reasons for doing otherwise are acceptable. Late taxes cover those that should have been filed for a particular year and back taxes are those due since the mid 1980s. The best part of doing this is avoiding possible problems that you may have with the IRS. It is ideal to have all tax records compiled but this may not be the case for some people. Phenomena such as fires, floods and other disasters may have completely destroyed everything a person owns, including his/her tax records. However, one of the key measures to filing back taxes is finding a great tax attorney and accountant who will be able to help in the reconstruction or retracing of a client's tax records. At best, they can prepare and recreate relatively accurate and complete tax records dating back to 15 to 20 years ago. In certain circumstances, people just do not have sufficient funds to settle the amount due on their returns. But alternatives for filing a missing tax return or back taxes are always available. Among the major benefits of this move is avoiding a substantial penalty of 25%, which is the charge for late tax returns. In certain states, failing to file your income tax return can lead to a sizable penalty even if you do not owe the government any money. If you are able to keep all of your tax information from previous years, a great deal of time and effort can be saved. You can then continue with the next step which is to prepare your tax returns. It is at this point that majority will see the need for professional help in order to avoid further IRS problems. The thought of not knowing whether or not you owe back taxes or knowing that you have not paid for this is distressing. Clients have observed that just making an appointment to see a tax professional who can help them sort through the web of forms and procedures makes their worries go away. Most people go on believing that electronic methods can be used in filing for back taxes. This, however, is not allowed as these requests should be hand-delivered or mailed to the IRS. To have proof that the IRS has received these tax returns, you must send them using certified mail. Those who are aware that they owe the IRS some amount of money will most likely be required to pay interest and other applicable penalties. In this case, forms of IRS assistance, like payments plans, are available. Depending on a person's specific situation and other characteristics of his/her case, filing back taxes may be a relatively quick and easy process. However, prolonging to deal with the situation and not filing or paying back taxes will only make matters worse. It can result to an increase in the amount of money due and worsening of penalties that can be enforced on you. Darrin T. Mish is a Nationally recognized Attorney whose practice focuses on representing clients across the United States with IRS Problems. He is AV rated by Martindale-Hubbel and is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. He has been honored by a listing in Martindale-Hubbel's Bar Register of Preeminent Lawyers. His passion is providing IRS help to taxpayers with both individual and payroll tax problems. He also spends a great deal of time traveling the nation providing training to attorneys, CPAs and Enrolled Agents on how to handle their toughest cases with the IRS. If you would like more information about his services please visit http://getirshelp.com. |
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