Robert J. Fedor, Esq., L.L.C.

Tips for delinquent tax filers

Every year as the April 15 deadline to file income tax returns approaches, business owners and individuals alike scramble to ensure they have the documents they need and have correctly completed related tax forms. What happens, however, if an individual simply allows the dreaded tax deadline to pass without filing a return or taking action to request a filing extension?

Individuals or business owners who fail to file their taxes may do so for a number of reasons. In some cases an individual may simply fail to complete their taxes or request an extension in time. In other cases an individual may be too afraid to file due to an inability to pay their tax bill. Whatever the case may be, it's wise to take steps to rectify delinquent tax filings as soon as possible to avoid additional fines and penalties as well as possible criminal charges.

The IRS utilizes sophisticated and complex methods to identify individuals who haven't filled tax returns and, when identified, the agency will take steps to recover back taxes. In most cases, the IRS will work with an individual to resolve delinquent tax matters. In cases where a taxpayer is not able to pay a tax bill in full, the IRS may work out a payment plan or a percentage of an individual's tax debt may be forgiven.

In cases where a taxpayer has neglected filing for years or is earning income from illegal sources, he or she is likely to face criminal charges. An individual who is facing an IRS investigation or criminal charges would be wise to retain an attorney who specifically handles IRS criminal cases.

Source: FindLaw.com, "What to Expect If You Don't Pay Your Taxes," 2014

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