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<\/a>FILING BACK TAX RETURNS PHOENIX AZ<\/p><\/div>\n
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Scott Allen E. A.<\/p>\n
Tax Debt Advisors, Inc<\/p>\n
It is important to remember that the IRS does not punish primarily for non payment but rather for non filing.\u00a0 The penalties for failing to file a tax return are 10 times greater than the penalty for non payment.\u00a0 That means the IRS is more interested in getting a paper return than paper money.<\/p>\n
Most people fail to file because they don\u2019t have the money to pay the tax.\u00a0 That\u2019s like putting your head in the sand\u00a0to save you from the IRS lion.\u00a0 If you file your returns on time you will save yourself lots of penalties and the IRS is much easier to work with if you have been filing each year. \u00a0Once a client has failed to file for one year, the average client does not seek help until six years later.\u00a0 Why? Because it usually takes the IRS that long to levy their wages and\/or bank accounts.\u00a0 If the IRS was much more aggressive and competent, clients would save thousands of dollars in penalties and interest.<\/p>\n
If you have lost your records or they were destroyed in a fire or flood, it is possible to reconstruct the returns.\u00a0 The IRS keeps track of\u00a0 W-2 information, interest and dividends paid, home mortgage interest, sales of stock and any K-1 and retirement income information.\u00a0 Banks can provide copies of old bank statements and checks.\u00a0 With a little effort, most returns can be reasonably reconstructed.\u00a0 We always attach a note to the return explaining how we arrived at the numbers reported.<\/p>\n
If absolutely no information is available, there is still an acceptable way for filing back tax returns Phoenix AZ.\u00a0 This is based on economic reality.\u00a0 We have a worksheet that determines how much you had to make to pay your bills every month.\u00a0 We can file a tax return based on estimates if the estimates are reasonable.<\/p>\n
David owed the IRS for back taxes from 2012. They claimed he owed them over $4,000 on a tax return he never filed. How could this be so? The IRS went ahead and filed a tax return for him. This is called a substitute for return (SFR). The good news in all this is that David can still file a correct taxpayer filed return. That is exactly what Tax Debt Advisors, Inc did for him. As you can view from the notice below, the $4,000 debt was brought down to under $600. With the reduction in taxes owed, the interest and penalties were reduced for him as well.<\/p>\n
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