If you haven’t filed taxes for a number of years, it’s a serious problem.
A willful failure to file a tax return is a misdemeanor if you owe taxes. You can be sentenced to one year in jail and a $25,000 fine for each year of nonfiling.
It’s better to file before the IRS contacts you. The IRS has a policy of not criminally prosecuting those who file before they are contacted by the IRS.
You need to address filing past due returns first, if you have years of unfiled returns, get them filed. There is no sugarcoating this, and no getting around it.
Filing the return stops the clock on the failure to file penalties, which can add up fast. The failure to file penalty is 5% per month. The failure to pay penalty is 1/10th the amount at .05% per month
The IRS will not work out any form of payment plan, for any tax year, until all returns are filed.
Go to an Enrolled Agent who specializes in Tax Resolution-solving complex multiyear IRS issues.
Do you need help filing past due returns? Get In Touch Now.
