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Filing Late Returns

I can help you file your late returns to avoid further interest and penalties.  I will not judge you.  We can talk together and see why this might have happened.  We may be able to come up with a Reasonable Cause to get the IRS to abate some or all of the penalties.  I can help you get set up with a payment plan.

There are many reasons why some people file their returns late:  They believe they are due a refund, they don't have all of the information they need by April 15th, they are going to owe taxes and they don't have the money to pay and they are going through a stressful time in their life. 

Each subsequent year it becomes more difficult to file the next returns.  After awhile the guilt becomes unbearable, or the IRS contacts you on the telephone and asks you for your returns. If the IRS contacts you get a CPA to talk to the IRS on your behalf.  By filing a power of attorney the IRS will deal with your CPA and not with you.  You don't have to meet with them or talk to them over the telephone.  The CPA becomes your buffer and is your advocate.

Filing your income tax returns late can have some undesirable consequences.  If you are due a refund and you wait more than 3 years then you will not get your refund back, nor can you transfer it to another year where you owe tax.

There are penalties for late filing, underpayment of estimated tax payments, late payment and also interest.  If you return was due 4/15/2000 you will owe 293% of your original tax liability.  2001- 185%, 2002 - 173%, 2003 - 163%, 2004 - 147% and 2005 - 135%.

If you qualify for an officer-in-compromise I can help you file the necessary paperwork.   Beware of anyone who promises you that you will only pay pennies on the dollar without detailed information about you.  There are a number of unscrupulous people who will feed off your fear and take your money up front and not give you the results you want.  The IRS has the final authority on accepting an offer-in-compromise.

Reasons the IRS will not accept an offer-in-compromise:

You have assets that can be liquidated to pay your tax.  This includes equity in property and your pension plan.  If you are expected to have in increase in your income.  This includes getting married, getting an inheritance or a gift.