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Delinquent Tax Returns

Delinquent Tax Returns

You have not filed tax returns.  The IRS has filed tax returns on your behalf.
Challenge:

  • The IRS has filed a Substitute For Return (SFR) for your missing years.
  • The return is filed without exemptions, credits and deductions that you may be entitled to.
  • Once the SFR is filed, the IRS considers the returns filed and balance due to be collectible.
  • If the balance becomes collectible, the IRS may enforce strict collection action on the account including bank levies, garnishments and filing of a federal tax lien.

Solution/Strategy

  • Our tax team will contact the IRS immediately for collection hold on the account to file any missing tax returns and to file over the SFR years.
  • We will order all the necessary income data to ensure that a return is filed correctly.
  • The filing of the SFR will most likely result in lowering the balance due on the account.
  • The filing of all the missing tax returns will result from penalties to accrue on your account such as the failure to file penalty.
  • It will prevent states to assess a balance due on your account based on the IRS assessments.

Recommendations:
Our tax team will file all the necessary tax returns for you.  If you are self-employed, it is best to file your tax returns so that social security administration has a reportable income for you to calculate the social security benefits on your behalf.  The filing of all the tax returns will also help you with other financial obligations such as submitting returns for federal student aid, home loans and business loans.

Most taxpayers with unpaid tax debt have unfiled tax returns with the IRS and other state authorities.  When the taxpayer does not file a tax return, the IRS has the right to file a tax return on your behalf at any time.  This is called the Substitute For Return (SFR), this is filed with the highest tax rates given the least amount of deductions and credits resulting in the higher tax liability.  It is best and the right of the taxpayer to file over the SFR tax returns with the correct tax assessment or a refund on the tax return.

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