Do you have unfiled taxes that need to be resolved? Overwhelmed by the situation? Missing all or a portion of the records, personal hardship and/or neglect are many of the reasons people fall behind in filing their taxes. Fortunately, there are ways to approach the problem of unfiled returns.
If you have a tax return requirement, it is important to file the return, as the IRS statute of limitations does not begin until the return is filed. This means if you do not file the return, the IRS can come after you indefinitely for that tax year.
We can prepare past returns using various substitute sources when there are missing records. Those returns should be filed as soon as possible in order to minimize compounding penalties and interest. Also, it should be noted that if returns have not been filed in the most recent three tax years, those returns should be prepared immediately in order to claim any refunds that may be due.
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