Need help filing back tax returns?
It’s never too late to file your back tax returns. If for some reason, you get so busy or overwhelmed with activities that you fail to file your taxes on time, no worries at all. With the right help, you can get it done. We will run you through a few things you’ll need to file your back taxes.
First, you need to compile your tax documents. You need certain forms, namely, the W-2s or the 1099 you received for the years you want to file. Records that prove your eligibility for certain deductions and credits should also be compiled.
If any of your documents are missing, you can request a copy from the IRS. You should also download tax forms for previous years.
How to file late Taxes
When it comes to taxes, the earlier you file them, the fewer penalties you attract. Some late tax penalties include the “failure to file” penalty which comes when you don’t file your return in time, and the “failure to pay” penalty which happens when you don’t pay the taxes you owe.
We recommend you file your taxes as soon as you can. If it’s almost the deadline and you’re yet to file your taxes, go ahead and file them. However, if you think the time you have left before the deadline is not enough for you to file, you ought to immediately request an extension. This will give you more time to file your taxes without incurring penalties and interests.
Filing for an extension gives you about 6 more months to file. It is good to get an extension because tax filing is not a task to be done hurriedly. You need to get all your information right and ensure that everything is accurate before filing to avoid complications in the long run.
What if You missed the filing deadline already?
If the deadline for filing your tax return has already passed, you still have the liberty to file for an extension. Get plans rolling immediately to file your taxes on time, but try as much as you can to ensure that you file before the following year. You need to file your taxes early because:
- Penalties and interests are accruing.
- You can not claim your tax refund if you do not file; filing gives you access to your refund if you’re due any.
What if you can not afford your entire Tax Liability?
It is best to pay everything you need to pay to the IRS on time, but in certain financial situations, that is not always possible. Thus, options were created for people who may not be able to pay their entire tax bill. Some of which include:
– Installment Payments plans
– Offer in compromise agreements
– Requests for a payment extension
Do you need help filing your late tax returns? We are a tax relief firm dedicated to giving you the best results regarding resolving your tax debts. Our team of qualified professionals is available round the clock to provide you with the assistance you need. Contact us now at 888-585-8629 or 617-430-4674 or send us an email at [email protected].
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