Behind on filing your taxes? Receiving notices from the IRS or from your state regarding unpaid taxes or audits?
There are several issues regarding late tax filings or unpaid tax balances. First, it is very stressful to deal with unknown outcomes and the accompanying potential financial burdens. Second, most people do not have the knowledge to represent themselves in these situations resulting in additional stress and unfavorable results. And finally, there are so many companies that offer Tax Resolution Services, making it very difficult to choose a firm that you can trust.
Let’s be honest, some situations are difficult to resolve. If a tax return was prepared with significant errors there is no quick fix. In these situations the next step is either negotiate a reduced settlement if applicable or make affordable payment arrangements. We offer a thorough evaluation of your specific situation and outline the steps that we will take as your representative.
What if you are two, three or more years behind in filing personal or business tax returns? As a CPA firm, we have the experience to assist you in gathering the financial records to prepare these returns. We believe that it’s important to keep you in compliance with tax laws while paying the least amount of taxes legally possible. We will help you uncover whatever tax deductions you are legally allowed to take. We will help you get it done, get those past years filed and become current in all years going forward. This burden will be eliminated forever!
If I Can’t Pay Should I Still File?
Always file your tax return. Regardless of whether you’re able to pay your tax debt, filing your return by the deadline will help you avoid penalties and interest. The failure-to-file penalty is steep—usually the cost is 10 times more than the failure-to-pay penalty.
The penalty for failing to file is generally five percent of the unpaid taxes for each month or portion of a month that your tax return is late; it builds on itself, but will never exceed 25 percent of your total unpaid tax debt. Compare that to the penalty for paying late: a mere .5 percent for each month your taxes go unpaid. The minimum late filing penalty is $135 or 100 percent of your unpaid tax, whichever is less.
To help you resolve your issues favorably
Earn your trust to be retained as your long-term CPA firm
Earn your referrals to help others with all of their Tax and Accounting needs
This is not just about resolving current issues, it’s about developing a long-term business relationship.
Bring us Your IRS and tax problems! For a free consultation call 561-237-5264
Jeffrey D. Ressler, CPA & Associates, 7015 Beracasa Way, Suite 208, Boca Raton, FL 33433