Staying current on your tax return filings is one of the most vital steps in working with the IRS. Regardless of any other issues with the IRS, you are required to file taxes each year as a citizen in America. Just because you cannot afford to pay the taxes does not mean you shouldn’t fill them. Often the IRS will waive this obligation if your income is of a certain type of is below a threshold amount, but even then, filing a tax return can be a good way of obtaining a refund.
If you do have back tax debt, then filing new returns and staying current is part of the deal in working with a tax resolution. Many offer in compromises, settlements, and other various deals with the IRS are denied because the taxpayer failed to remain current on their tax filings. The deal with many of these individuals is that the IRS will agree to settle or reduce your tax liabilities, remove penalties, and take other “friendly” steps, as long as you remain current on filing your tax returns.
Here at Platinum Tax Defenders we have created a strong form to assist you in filing taxes. We have proven to be accurate on preparing returns, and it is your eyes that do the final review of the tax returns to ensure that they are accurate before they go to the IRS or the state in which you worked and/or lived.
There are normally two deadlines each year for income tax filings, in April and October. If you filed an extension to file your returns by October, you do not have to wait until October to file and can have these returns filed anytime between April and October. However, if you are late and miss the October filing deadline, then penalties and interest will accrue on your tax debt and eventually a substitute for return may be filed on your behalf by the IRS.
If you need older years filed, we can order all wages and income information going back ten years at Platinum Tax Defenders and assist you in preparing older years of tax returns as well. While the statute of limitations for a refund is three years, to be compliant with the IRS, and therefore to be able to enter a resolution, the last six years of returns must be filed.