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Tag: Tax returns

How Many Years of Unfiled Tax Returns Should You File?

unfiled tax returns

  It may seem overwhelming if you have many years of unfiled tax returns to file. The good news is that the IRS generally only requires taxpayers to file six years of delinquent returns. The six-year rule can be adjusted in certain cases, particularly if there has been criminal intent to violate tax laws. However,… Read more »

5 Problems Caused by Unfiled Tax Returns

missing tax returns

  Failing to file tax returns can lead to immediate issues and problems that surface months or years later. The IRS won’t forget that you have delinquent tax returns, and the consequences can become more severe as time passes. You may face any or all of the following problems if you have unfiled tax returns.

Who Needs to File a 2018 Tax Return?

Tax filing requirements

  How to Figure Out if You Need to File a 2018 Tax Return 2018 tax returns are due April 15, 2019, but not everyone needs to file a tax return. Taxpayers most commonly need to file when they want a tax refund, when they earned more than the income threshold, or when they had… Read more »

What to Do When You Have Several Years of Unfiled Tax Returns

missing tax returns

  Unfiled Tax Returns Some people avoid filing their tax returns because they don’t want to pay taxes to the IRS. Other simply forget or don’t know they need to file. Whatever the reason, having several years of unfiled tax returns can create problems whether you are due a refund or have a balance due… Read more »

Can You Still Face Penalties If You Get a Tax Filing Extension?

tax return extension

Reasons for Requesting an Extension There are two major reasons taxpayers request a six-month extension to file their tax returns: • They waited until the last minute, and now they don’t have enough time to file their return. • They can’t afford to pay their tax bill. While the IRS will give all taxpayers an… Read more »

5 Repercussions of Failing to File Tax Returns

don't file tax returns

What Happens If I Don’t File My Tax Returns? The law obligates every citizen to pay taxes to the IRS if their income satisfies a certain threshold. Only dependents are exempted from this rule. Similar to any other rule, filing tax returns is mandatory; there are no other ways about it. Failure to file tax… Read more »

What To Do If I Have Filed False Tax Returns?

innocent tax return mistakes

Filing a False Tax Return Filing a tax return with deliberate falsification carries stiff IRS penalties. The tax agency does not take kindly or lightly to fraud; therefore, if you are accused of filing false tax returns, take your situation seriously. The long-term and short-term ramifications of falsifying income tax returns could be severe.

Taxpayers Have Three Years to Receive Unclaimed Tax Refunds

Unfiled Tax Returns Could Mean You Are Missing Out on Some Serious Cash Are you interested in receiving an extra $847? That was the median tax refund due for unfiled 2014 returns. Unfortunately, if you never filed your return, you missed your chance to get your refund. That’s right, the money’s gone. It’s now property… Read more »