Not filing for one’s income taxes is a serious matter. Ignorance of the law is not an excuse, and it is up to everyone to file back taxes. The IRS looks with suspicion upon anyone who fails to file back taxes, because some people don’t want to report their income. Rozier can assist you with back taxes. Let’s take a proactive approach to this issue.
Even if late, taxes should be filed. There are a few vital reasons why. By filing, it halts the clock on any further penalties for filing late. You also benefit from getting your tax reporting on record. If you are unable to pay at the time, you may have the option of requesting a payment plan. The IRS desires these payment plans over being constrained to take collective actions. One piece of good news: there is no statute of limitations for unfiled returns. Thus, the IRS has an unlimited amount of time in which to assess taxes and penalties for unfiled returns.
The first order of business when filing back taxes is to collect all pertinent documents. In the event that you don’t have your W2 form, Rozier can request your wage/income transcript directly from the IRS. Let Rozier be your representative and let us do all the heavy lifting for you.
If you are not able to pay the due taxes after filing late, you will want to get approved for an installment agreement. This measure will halt any further penalties and forego any lien notices, provided that your payments are on time. If you do not make the payments as agreed, then the IRS can commence with collections again.
Tax laws are complicated. Rely on Rozier to guide you out of the maze of confusion. Rozier exists to furnish our clients with professional, reliable services. Taxes are our field of expertise. Rozier has a commitment to all the people who entrust us. Every client has a unique set of needs and unique situations. If you have any questions or would like to contact Rozier, give us a call today!