Do you have unfiled taxes haunting you from the past?
If you haven’t filed your state or federal income taxes in a few years — or a dozen years — you’re probably scared and embarrassed. But I want to assure you that you are not alone or even unusual. I work with clients all the time who are years behind on their taxes and have no idea where to start.
You can get caught up. Don’t wait any longer to tackle those unfiled taxes. Why?
No. 1: You Fear the Mail Carrier & ATM
Do you dread going to the mailbox because you think you’ll see “Internal Revenue Service” on the envelope? Do you let your mail pile up for days or refuse to go through it for the same reason?
What about the ATM? Do you hold your breath every time you try to withdraw cash, because you wonder if this is the day the IRS attached your bank account?
Get caught up on your unfiled taxes now, and you’ll never have to fear the mailbox or the cash machine again.
No. 2: You Can’t Buy a House
Do you want to buy a house but you’ve been putting it off because of unfiled tax returns?
Mortgage lenders require that you submit the last two or three years of tax returns to qualify for a home loan. If you file those back taxes now, you’ll still be able to take advantage of the historically low mortgage rates we have right now in Utah.
No. 3: You Can’t Get a Passport
Would you like to take a trip outside the U.S.? You may not be able to get a passport if you have unfiled taxes. Even if you have a passport, the IRS can revoke it if your unpaid tax debt grows too large.
File those back tax returns now, and you can travel around the world if you’re so inclined.
No. 4: You Might Be the Victim of Identity Theft
Did you know that people with unfiled tax returns are significantly more likely to be victims of identity theft?
Criminals love to file tax returns using non-filers’ Social Security numbers and have the refund deposited directly into their non-traceable accounts. The longer you go without filing, the greater your risk of having your identity stolen.
No. 5: Interest & Penalties Are Increasing
The IRS doesn’t let up on penalties and interest — ever.
Late filing and late paying penalties and compounded interest can increase your debt exponentially over the course of several years. And if the IRS files a Substitute for Return (SFR) on your behalf, you stand to lose many of the deductions to which you are entitled.
No. 6: It’s Easy to File Back Taxes with the Right Tax Attorney
The fear and confusion may be too much to handle on your own. But with a compassionate and knowledgeable tax attorney on your side, you won’t have to face the IRS alone. I will also help protect all your legal rights as they relate to the IRS and the state of Utah.
If the resulting debt is more than you can handle, we can explore making an offer in compromise to help settle your debts.
With every passing day, your fears will grow — as will your back tax debt. At the Froisland Law Firm, I offer complimentary 20-minute consultations to clients with unfiled tax returns. Why not call me today to schedule an appointment, so you can discover how easy it is to finally deal with your unfiled taxes?