Unfiled Tax Returns
Why Choose Us
The Reality of Unfiled Tax Returns
If you’ve missed filing your taxes for a year or more, you’re not alone. Many people fail to file due to time constraints, tight schedules or financial difficulties, but the IRS is generally more understanding when you file but can’t pay, rather than not filing at all. The best course of action is to file your returns, get up to date, and explore tax relief programs that fit your situation.
Taxprofix has helped thousands of taxpayers catch up on unfiled returns and regain financial stability.
What Happens If You Don’t File Your Tax Returns?
Tax Penalties
You will be assessed a late filing penalty. You will also face a late payment penalty every month. Interest will also accrue on any unpaid taxes.
Refund Delay
If you have unfiled tax returns from previous years, but file this year, the IRS may delay paying your refund.
Reduced Refund
The IRS may decide to file a substitute return (SFR) on your behalf reducing or eliminating your refund. SFR assessments lead to a higher-than-usual tax bill
Criminal Charges
Refusing to file a tax return with an intent to evade tax is considered a crime. You may face criminal charges for tax evasion, and the punishments may include imprisonment.
Refund Forfeiture
You risk losing your refund if you don't file your return. If you are due a refund for withholding or estimated taxes, you must file your return to claim it within 3 years of the return due date. The same rule applies to a right to claim tax credits such as the Earned Income Credit.
How to Catch Up on Unfiled Tax Returns
Extension Request
If you’re unable to file this year’s taxes on time, you can request a filing extension request. This will give you more time to submit your return. However, any due taxes will need to be submitted by the original tax deadline. If you’re unable to pay in full you can get an IRS payment plan.
Penalty Relief
In some cases you may be eligible to get your filing and payment penalties waived through a first-time abatement request or through relief due to reasonable cause. This can be available if you’ve experienced unforeseen circumstances that prevented you from filing on time.
Offer in Compromise
If you’re unable to make any payments on your tax debt, the IRS may settle for a smaller amount through an offer in compromise. You’ll need to prove that you are in financial hardship and unable to make the requested payments. This can be an effective way to get caught up and back on track with the IRS.
SFR Reconsideration
If the IRS files a substitute for return (SFR) due to an unfiled tax return, you can file a late return to replace it. This is called an SFR reconsideration. This can be a good choice if you don’t agree with the adjustments the IRS made on your SFR.
Work WIth Taxprofix
Our tax professionals have experience in dealing with every type of tax problem and working directly with the IRS to solve these problems for our clients.