Owe Back Taxes?
Don t be bullied Learn what your options are from Community Tax Relief s Tax Attorneys.
The time for filing federal taxes has now lapsed and if you have not filed for the year with the
IRS, back taxes may still be filed to your benefit.
IRS back taxes should generally be paid as quickly as you are able. The federal government's
approach to taxes is to allow the tax payer to voluntarily file their returns. This does not mean
that the payment of taxes is not mandatory. The tax payer may, when voluntarily filing on time
or to the IRS back taxes, apply any number of applicable deductions and claim Earned Income
Credit.
When taxes are not filed voluntarily the IRS may file a substitute return for you, without any of
the filer's qualified exemptions or deductions. This substitute return can be a double hit to your
wallet. Since your exemptions are not necessarily taken into account when generating the
estimate, an amount that is probably higher than a return for IRS back taxes calculated by your
own hand would be filed. Collection of payment could involve liens on your property and or
levies on your wages and bank accounts.
The payments made toward your IRS back taxes may be made by all forms of credit
card, bank loans, and installment payments. The IRS recommends taking a better look into your
options for bank loan and credit card payment because the installment plan will generally cost
you more. You have three years to file with the IRS back taxes from the date that they were
originally due to receive any refunds. Your refund will expire after the three year deadline so it
is important that you file as soon as possible. The refund money, if you have filed before the
expiration date, may even be applied to other IRS back taxes should you owe.
Not all IRS back taxes require repayment of taxes. Sometimes taxes are just late
because life caught up with you or you anticipated owing and when the calculations are finally
made you do not. Either way it is important that you complete and file with the IRS. Back taxes
are not processed in every location and when gathering your delinquent return be sure to verify
the address where it must be sent lest you incur further interest or penalties in the mailing
delay.
If you have received an official notice about your IRS back taxes, you should send the return
to the address on the notice. Prior forms and instructions may be found on the IRS website
http://www.irs.gov as far back as 1990, as well as information where to mail your return if you
want extra verification.
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Tax Debt Resolution
Filing taxes is a daunting task but if your uncertainty in the filing process is part of your
delay the IRS provides help for those of low and moderate income in the Volunteer Income Tax
Assistance program. The tax payer over the age of 60 may find assistance in the Tax
Counseling for the Elderly program. Both programs are free of charge for those who qualify
and will help you with IRS training to file taxes and avoid the necessity of filing with the IRS
back taxes. Article Source: EzineArticles.com/?expert=Manuel_Davis_Jr.
Community Tax Relief was created by Attorneys and Bankers with years of experience in both
tax debt resolution and financial services. Our mission is to create a new standard for the
industry, in which the customer and their best interest truly come first. We have grown tired of
seeing clients getting taken advantage of and paying outrageous upfront fees for which they
receive little to no service in return. Too many clients are turned away from our competitors
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Click Here for your free no obligation; no strings attached consultation to discuss your options
with a certified tax professional.
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Tax Debt Resolution