Unfiles taxes can be a real problem...

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Services for Real Estate Pros - Law Offices of John Thomas Dzialo
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It doesn't matter what reasons are, but if you are getting failed to filing your taxes, that can turn into a big problem. Internal Revenue Services (IRS) is taking this issue seriously and trying their level best to find non filers. The failure to file a tax return is a misdemeanor punishable up to one year in jail as well as a fine of not more than $25,000 ($100,000 in the case of a corporation). Even worse, a taxpayer who fails to file returns for multiple years commits a separate misdemeanor offense for each year. Therefore, it is necessary to take action now. Do not ignore your unfiled taxes notice from IRS.If you think you can remain undetected, than this is your big mistake. It can lead to very serious consequences like Potential criminal charges,Civil penalties,Wage and Social Security garnishment,a substitute return filed by the IRS,Tax collection enforcement,Bank account levies. Now,Question arises How to file an unfiled taxes ?. For that,consider following points:- - When you are filing old tax returns it is important to get the proper documents together that are required i.e. old W-2s and old 1099 tax documents. - Prepare your tax forms and files.Note that it is important to get the returns for the specific years you missed.Even IRS has already prepared one from your behalf, but it is important to make your own and re-file it, just in case. - Make sure you have installment agreement. - Last and most important thing, You must pay what you owned