Tax Preparation
Is it possible to reduce the amount you owe the IRS? YES! Our team of CPA’s, former IRS agents and tax attorneys are exceptionally prepared to help you overcome this challenge and to help you file your returns on time!
Prepare Your Tax Returns
Did you know that many well known tax preparation companies hire people who have no degree in accounting or taxes? They put them through a short course to give them an “official” certification and then let them prepare your return. Do you want your return filed by someone who passed the CPA exam, who studied tax accounting for years and who knows the ins and outs of the tax laws? Yes! Our team is most prepared to help you prepare for coming years, to help you be more strategic in your tax planning and to help you legally minimize the amount of tax due.
A tax return is a document filed with a tax authority that reports income, expenses, and other relevant financial information. On tax returns, taxpayers calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes. In most places, tax returns must be filed annually.
What is the difference between filing and preparing taxes?
The short version goes something like this: Tax filing is when you prepare and submit your tax return to the IRS by a determined deadline. Tax planning is working with a financial professional to make sure you use the tax code to your greatest advantage.
Unfiled Tax Returns
We know that life gets busy and if you think you may owe taxes, it sometimes feels easier to ignore them than file them.
Unfiled taxes mean you haven’t filed your federal income tax return for this year or previous years. Here’s the bad news, the agency can go back an unlimited amount of time. There is no IRS statute of limitations on unfiled tax returns. However, in a lot of cases, you can catch up by filing just the last six years of returns, and the IRS has all kinds of programs to help people pay their unpaid taxes.
Here’s the good news, if the IRS owes you, there is NO failure to file penalty.
Unfiled Back Taxes
We know that life gets busy and if you think you may owe taxes, it sometimes feels easier to ignore them than file them.
If you don’t file a required tax return by the deadline, it’s called a back tax return, an unfiled return, or past-due return. You can face consequences with the IRS if you have back tax returns. Here’s the bad news, the agency can go back an unlimited amount of time. There is no IRS statute of limitations on unfiled tax returns. However, in a lot of cases, you can catch up by filing just the last six years of returns, and the IRS has all kinds of programs to help people pay their unpaid taxes. Here’s the good news, if the IRS owes you, there is NO failure to file penalty.