Unfiled Tax Returns

If you have unfiled tax returns, we can help. We have helped several clients resolve their overdue tax returns in and around the Knightdale area, including Wendell and Raleigh NC. Whether you have not filed your tax returns on over 1 year, 3 years, 5 years or even 10 years or more, don’t hesitate to call us at (919) 266-3417 or email us at rhines@hinescpa.com so that we can help you get started on resolving your unfiled back taxes.

One of the most important parts of resolving unfiled tax returns is doing some background research first. The benefits of researching your status, including using the IRS “e-Services,” is significant. This is one step that many tax relief firms will not do. If you are looking for a tax professional to resolve your unfiled tax returns and the person you speak to doesn’t mention researching your IRS record, please consider that as a cause for concern. The Federal Trade Commission published an article specifically about tax relief companies.

It is important to do research first to find out where you stand with the IRS with regards to your tax situation and, in short, what you need to file. This helps everyone save time and allow us to focus on resolving your unfiled tax returns quickly.

Here a few items we will attempt to discover:

  1. How many tax returns have not been filed.
  2. If you are currently in a collection process with the IRS.
  3. If the IRS has assigned you to a Revenue Officer.
  4. How much you owe the IRS.
  5. The tax years you owe the IRS.
  6. When the statute of limitations takes effect in your case (also known as the Collection Statute Expiration.
  7. If the IRS has filed any tax returns for you. This will help us determine if tax returns should be prepared for those years or if we should let them stand as is.

During the research phase, we will also ask the IRS to fax us applicable wage and income transcripts. This will help us determine which forms (such as W2, 1099’s etc.) you need to prepare for your returns.

How many years back do I have to file unfiled tax returns?

The short answer is, it depends. If you have not filed your taxes in over 10 years, you may only have to file the last six years. If we discover that the IRS has filed returns for you (called Substitute for Returns or SFR), we may not have to file tax returns for those years, unless it is beneficial for you to do so.

Consequences of having unfiled tax returns:

  • It’s illegal. First, and perhaps most importantly, not filing taxes is a crime and it is possible to go to jail as a result. Fortunately, this is not common and is typically the result of an individuals conducting themselves sin an uncooperative manner with the IRS.
  • Fees and interest. If you have unfiled tax returns, you can expect to pay fees for each unfiled tax year and interest on any overdue tax liability.
  • Lost refunds. If you were owed a refund on any of your unfiled tax returns, you may lose it. Refunds on tax returns that are three years or more overdue are lost.

Get Help with Unfiled Tax Returns

No matter what your financial situation is, contact us to look at your tax and financial situation to determine the best route of resolution to get you back into good standing with the tax authorities. Call us at (919) 266-3417 or email us at rhines@hinescpa.com