Has
it been years since you've filed tax returns? While the Internal
Revenue Service may have not yet notified you, it will catch
up to you sooner or later. And with technology and sharing
of information advancing at light-speed, it may be sooner
than you think.
The
IRS may seek to impose a criminal offense for failure to file
tax returns as required. Even if you do file, the tax returns
must be accurate and truthful because, if the IRS detects
false returns, a fraud referral to the Criminal Investigation
Division will be generated.
The
IRS may also create a “substitute return” to establish
an account for a taxpayer who refuses or is unable to file
a required return. Such a return almost always results in
a higher liability than if the taxpayer filed a tax return,
because the IRS does not take into account any of the following:
- basis
information for assets sold,
- business
expenses,
- adjustments
to gross income,
- itemized
deductions,
- married
filing joint status, or
- exemptions
for dependents.
Under
certain circumstances, if the Internal Revenue Service hasn’t
contacted you already, it may be possible to file your returns
without criminal penalties. Even if you do file, you must
prepare and file tax returns that are accurate and truthful,
as the IRS will examine the returns; if false returns are
detected, a fraud referral to the Criminal Investigation Division
of the IRS will be generated.
We
can help get you current with your tax return filing obligations
and then analyze your situation to determine the best course
of action and minimize the chance of any criminal investigation.
For many taxpayers, this typically leads to an
Offer
in Compromise.
For
prompt evaluation of your case, we encourage you to click
here to register for our Tax Advisory Service. You
may also contact us using our toll-free number at 866.494.6829.
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