Every year, every Citizen, Resident Alien and Non-Resident Alien (that has U.S. Source Income) is required to file an individual Income Tax Return.  Theoretically, this return is supposed to include every dollar of the taxpayer’s income, from whatever source derived and be filed by April 15th of the following year under penalties of perjury.

What happens if I don’t file ?

Usually nothing right away.  However, after a period of time, and that period of time is continually shrinking, the IRS will contact you and ask politely for your unfiled tax returns.  If they don’t receive them within a reasonable period of time, they will do one for you, which will not be pleasant.

Unfortunately, the failure to file individual taxes typically has a snowballing effect.  It starts out as a small problem, escalating over the years into a huge problem.   The real tragedy is that the statute of limitations for IRS’s collection of taxes does not even start to run until you file a tax return.  IRS substitute returns do not trigger the statute of limitations.  Additionally, until you are in full compliance with the IRS (meaning all your tax returns are filed), it is not even possible to work out any kind of agreement with the IRS on past balances.

What should I do ?

You have two choices:  You can either keep your head in the sand and pretend you don’t have a problem, or worse, know you have a problem and just decide to ignore it.  Alternatively, you can hire a competent professional to manage the situation.  You may need to reconstruct your income and expenses, and even if you think this task is impossible, we can still help. After the data is gathered, we do the rest.  We prepare the returns and negotiate their acceptance by the IRS.  Finally, while this process is continuing we handle the entire operation so that IRS collection activity is completely managed by us.

What is the next step ?

The journey of a million miles always begins with one-step.  If you need to get your back taxes done, then maybe it’s time to call us to set up your FREE Consultation.  Just pick up the phone and dial (214) 257-8442 or (817) 886-0396 and I will be happy to set up a meeting with you for an absolutely free consultation. 

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