Delinquent, Missing or Unfiled Tax Return
Ramifications for a Failure to File

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File Back Tax Returns for Multiple Years

If you have unfiled tax returns, have failed to file your federal or state tax returns and you owe taxes, there can be very serious ramifications. It is in your best interests to still file. Here’s a look at what happens if you don’t file your tax Federal tax returns. Many states have similar consequences. In fact, states have the power to do a few things the IRS is unable to do.

NO TAX RETURN - NO TAX REFUND

If you are due a tax refund, and you do not file your tax return, you will not get the refund. Without a tax return, there is no reason for the IRS to send you a tax return. You have three years to file your federal return, but after that, you lose the opportunity to claim your refund. After three years the government gets to keep your money. 

IRS Penalties - Failure to File
 

If you do not file your taxes and fail to file a Federal tax return (as well as state) by the due date, you face a failure-to-file penalty if you owe taxes. That’s 5% of the balance for every month you don’t file. This penalty maxes out at 25%. If you file at least 60 days late, your minimum penalty is the lesser of $205 or 100% of your tax owed. If you don’t owe any tax, these penalties don’t apply, but you can face other issues.

Substitute for Return
What Is It? What Does It Mean For You?
File Tax Returns to Replace the Substitute for Returns Created
by the IRS

Replacing a "Substitute for Return" (SFR) can be the best solution for immediately lowering the amount of taxes the IRS says you owe. Even if the IRS has already filed a return for you (SFR), you still have the right to file a "real tax return" through the audit reconsideration process. Filing your tax return may cause a significant reduction in the amount of taxes you owe. But be careful, sending your tax return to the wrong place or making mistakes on the return can cause significant delays and/or cause the IRS to reject your return. It is important to understand the method and procedures for filing old tax returns to ensure that your tax return is properly processed and that you receive the credit you deserve.
 

You usually only have one shot at filing an old tax return and having it replace the tax return created by the IRS. Do not make a mistake.

 

If you do not file your tax returns, the IRS, as we wrote above, the IRS will create a tax debt by a mechanism called a Substitute for Return (SFR). A Substitute for Return is NOT a tax return. An SFR is a tax bill. A Substitute for Return contains information from W2s, 1099s, or other forms the IRS has received from your employer, your bank or other entities. Typically, the SFR only has one exemption, no dependents, and the standard deduction.
 

If you qualify for more than one exemption, have dependents, or itemize instead of claiming the standard deduction, an IRS-prepared Substitute for Return will show a much larger tax debt (typically twice what you owe) than you would owe if you filed the tax return. For example, if you are really due a refund, the SFR may show that you owe money to the IRS.

The Substitute for Return creates a Substitute for Return (SFR) to provide the IRS authority to start the collecti
on process. The IRS can now do some "pretty nasty things" to you like ordering a tax levy on your wages, bank accounts, and property.

Statute of Limitations - It Never Begins

When you file your tax return, the IRS has three years to audit it. After that point, the statute of limitations kicks in, and the agency can’t audit that tax return. However, if the IRS generates a Substitute for Return (SFR) for you, that can be audited at any time. Again, if you file, you avoid the SFR. The IRS usually waits a few years after the due date to complete the Substitute for Return.

You Need to File Tax Returns in a Bankruptcy Filing

To qualify for both a Chapter 7 and a Chapter 13 bankruptcy, you need to be current on your tax filing obligations. In most cases, you must have filed the last two years of tax returns for Chapter 7 and the last four years of tax returns for Chapter 13.

IRS Collection Activity
The IRS has the authority to start enforcement

once the Substitute for Return creates a tax debt. IRS enforcement includes IRS tax levies, tax garnishment, bank levies as well as other collection actions.

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File Your Missing Unfiled Tax Returns for Multiple Years

Flat Fee Tax Service provides IRS tax debt help and will prepare tax returns for individuals, and businesses. Our IRS tax professionals especially focuses on preparing returns for multiple years, multiple states, and for non-filers. If you are considering whether to prepare the tax returns yourself, there are several challenges that may lie ahead of you.


YOU CANNOT SETTLE WITH THE IRS, OR GET INTO AN INSTALLMENT AGREEMENT WHEN YOU HAVE UNFILED TAX RETURNS.

YOU ARE NON-COMPLIANT WITH TAX LAW.


You must keep in mind that the tax laws and forms change every year, and you may find it difficult to research the necessary tax codes and/or obtain the necessary tax forms. Also, you may be missing some or all of your records that will be needed to prepare those tax returns. You may not need to file tax returns for all of the years that you believe may need filing. If you have not filed in say ten (10) years, we may be able to need the last six (6) years to be filed. The bottom line is this: you must be compliant.
 

Should you allow our IRS Tax Attorneys to assist you in determining which tax returns need to be filed, and our tax professionals will work with you to prepare those returns as quickly, aggressively and ethically as possible.

Our tax professionals prepare unfiled tax returns every day. We will obtain all of your records that are on file with the IRS, and possibly the state tax agencies, and guide you in reconstructing any necessary information or documentation that may be missing.

 

We have the resources, knowledge, and expertise to prepare any and all types of tax returns for you

Flat Fee Tax Service  1-866-747-7435

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FLAT FEE TAX SERVICE

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