For whatever reason, you may be like many other Americans and have unfiled tax filings and/or owe the IRS money on back taxes. It is important that you realize you are not alone and that although it may be a helpless feeling to be looking over your shoulder for the IRS, help with your back taxes is actually quite simple.
The only way to resolve back taxes is to file any and all late tax returns. It may be hard to believe, but it really is that simple. Until you actually file the returns, you will not know what your actual obligation, if any, to the IRS is. When you fail to file a return, the IRS will create a return and assess your tax liability. This assessment is based only on what information the IRS has and will not include your allowable deductions and allowances.
To get help in filing your back taxes, you can consult some online resources that may provide you with the necessary information to complete your taxes on your own. There are numerous software programs that will help you complete and file back taxes. The best solution may be to contact a tax professional that specializes in assistance with filing back taxes. They understand the laws, will know how to negotiate with the IRS on your behalf, and can best advise you on how to not only file your returns but possibly help you avoid additional penalties and interest and settle your back tax debt altogether.
It is important to be aware that there is a time limit or statute of limitations for filing back taxes in which you may be due a refund or that the IRS can actually collect the debts. Again, a tax professional will best be able to help you analyze what the statute of limitations is for your specific situation.
Back tax help is only a phone call or click away. There is a wealth of information available to you to either resolve your tax issues on your own or reach out to a tax professional to get the assistance that you need. They even will provide assistance with filing a 5500.
When people who have not paid their taxes go to jail, it is because there was a crime associated with the situation. When you attempt to try to avoid paying taxes by committing fraud, such as failing to report income or knowingly lying on your tax return, you risk being charged with tax evasion or fraud and prosecuted by the U.S. Attorney’s office.
In addition to the IRS, there are a multitude of state and local taxing authorities you may have to deal with for various reasons—for example, if you are subject to state income tax; if you pay property taxes; if you have a business and pay various business taxes; and so on.