Past Due Tax Returns & Reduce Penalties
Past Due Tax Returns
In many cases the tax collection agencies won't consider setting up a payment plan until all unfiled returns are filed or assessed. This can be a big problem when you have wage garnishment or other threatening action against you.
Usually people get behind in filing returns because of some unfortunate life changing event. First one return is not filed, then they are afraid to file the next year and the whole thing mushrooms into a huge problem.
Preparing tax returns that are several years old can be challenging because the paperwork has been lost and memories fade. However we have years of experience in helping clients get back on track by filing the required unfiled returns.
We enjoy putting the "pieces of the puzzle" together and helping our clients. They all tell us how good they feel once this ordeal is over. Now they can stop worrying.
Each agency has its own rules regarding penalty assessment, calculation and abatement. One of the most common statements we hear in our practice is "I don't mind paying the taxes I owe, but can you do something about the huge penalties?" This is a reasonable request since in many cases the penalties and interest on those penalties are as large as the taxes that are originally owed.
We will always look at your penalties to see if they could have a reasonable chance of being abated or reduced. We have had success in getting penalties abated or reduced whenever possible.