An Experienced Atlanta Attorney Offering Support For Unfiled And Amended Tax Returns
If you have failed to file tax returns or need to amend previous filings due to mistakes, it is crucial to address these issues promptly to avoid serious consequences. If you do not take action, you could face financial penalties and potential legal actions by the IRS.
When dealing with unfiled or amended tax returns, having comprehensive support is crucial. At The Gartzman Law Firm, P.C., Jeffrey Gartzman pairs knowledge of tax law with experience as a CPA, allowing him to address both the legal and financial challenges that can arise during this process. He can help you minimize penalties, correct errors, ensure compliance and take steps to protect your finances.
What Happens If You Do Not File A Tax Return?
Failing to file a tax return can lead to a range of serious consequences. Initially, the IRS may impose late filing penalties and interest charges on unpaid taxes. Beyond these penalties, not filing a tax return may trigger more severe collections efforts from the IRS, such as levies on your bank accounts, wage garnishments or liens on your property. These measures can severely impact your financial stability and credit score.
The IRS also has the authority to file a Substitute for Return (SFR) on your behalf. The SFR may not account for all your eligible deductions and credits, potentially resulting in a higher tax bill than if you had filed yourself.
Addressing unpaid taxes promptly can help avoid additional penalties, interest and collections efforts. You can work with the IRS to file back taxes and set up a payment plan. It is also wise to consult with an attorney who understands back tax issues and can help you file accurately and negotiate with the IRS.
What If You Have Mistakes On Your Tax Return?
Mistakes on your tax return can lead to different penalties based on how serious the error is. Common penalties include accuracy-related fines if you understate your taxes or are careless in reporting income, usually costing 20% of the unpaid tax. If the IRS suspects fraud, penalties can be as high as 75% of the underreported amount. Mistakes can also lead to greater scrutiny and potential IRS audits.
Filing an amended return can help fix these mistakes. Correcting errors shows the IRS that you want to follow tax laws, which can lower or eliminate fines related to the mistake. Amended returns let you update your filing with correct info, possibly leading to a refund if corrections lower your tax bill. They also let you claim missed deductions or credits, helping to match your tax duties with your finances and avoid more problems with the IRS.
You Do Not Have To Resolve Unfiled Tax Issues Alone
A tax return compliance attorney can be a huge help if you have unfiled tax returns. They can give you personalized advice and strong defense against possible IRS actions, like audits or collections, ensuring a safer financial future. A tax attorney can create a plan to handle unfiled returns or amended returns, focusing on compliance and ensuring that you meet deadlines and file documents correctly.
They can also communicate directly with the IRS on your behalf, easing the stress of meeting with the IRS yourself. With their tax knowledge, attorneys can help negotiate better terms for paying tax debts, possibly lowering penalties and interest charges.
Reach Out For Skilled Guidance
If you have unfiled taxes or need help fixing a return, contact us today. We are here to help you achieve compliance and peace of mind. Call 770-695-7337 or reach out online to start.