Tax Help | Atlanta, GA

Non-Filed Tax Returns

Tax Help in Atlanta

If you have not filed your taxes for the most recent tax year, or for one or more previous years, it is important to take action as soon as possible by seeking tax help to avoid potential legal action against you. 

Who is required to file tax returns?

Generally speaking, if you had earned income in a given tax year, you were probably required to file a tax return for that year.

There are some exceptions based on the amount of income you earned. For example, if you were single and under age 65 in 2015, and if you earned less than $10,300 during the year, you do not need to file a federal tax return. There are also some different rules for senior citizens on social security, and for dependents on someone else's tax return.

When in doubt about whether or not you were required to file tax returns for a particular year, it is important to talk to a tax professional.

What are the risks of not filing tax returns?

It is a crime to not file tax returns when required; one the IRS and other taxing authorities take very seriously. Willful failure to file a tax return is a misdemeanor, however if you are actively evading your tax obligations, the charges may be felony charges instead. Failing to file tax returns can come with financial fines, civil penalties and even imprisonment. 

Sometimes, taxpayers know they need to file tax returns and know they are going to owe the IRS, but do not have the money to pay their taxes. In this situation, it is almost always best to file your return and then work with a tax professional to discuss options for handling back taxes. If you don't file and don't pay, the IRS will penalize you for both things!

If you don't file, it is also possible that the IRS will file a substitute return for you based on the information they have available. Remember that the IRS wants to collect tax revenue, so the substitute return will most likely not be in your best interest, and will probably not reflect all of the adjustments, credits and/or deductions you might otherwise have been entitled to claim.

The filing date of your tax return also starts the statute of limitations for IRS audit purposes. Generally, this is a three-year period from when your return is filed, so if you file your return late, you are potentially at risk for an audit of that year's taxes for a longer time period than you would otherwise experience.

Tax help from Flick Financial, LLC

If you have non-filed returns from previous tax years, contact Flick Financial, LLC today for a free consultation with our tax professional. By taking action to voluntarily file your past returns, it is likely that you will avoid legal action. We understand it can be a scary place to have non-filed returns and unpaid tax obligations hanging over your head. The first step toward peace of mind is letting a tax professional review your situation to determine the best course of action to help you get back on solid footing with the taxing authorities.

Please complete the form below to get a Free Consultation with our tax specialist or you can call us at (404) 459-4064.

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