I haven't file taxes for 10 years | Tax Mediation Services
(877) 637-3783

Oh wow. Well you’re not the only one.  A good 56% of Americans still haven’t filed their tax returns.

What you need to know about having unfiled tax returns

  1. IRS does not have time limit on the collection of taxes
  2. You could be charged with a crime – 5 years in prison and $250,000 in fines
  3. The IRS may file a substitution for return or SFR on your  behalf (Ps. they won’t give you any of their exemptions or deceptions) You will owe $$
  4. Investigate your case with IRS and see if filing is required.
  5. File your Missing tax returns to avoid more penalties and or interests

If you’re not sure whether you’re required to file a returns visit Do the WWW.IRS.gov or submit a form and we can investigate for you. If you’re required to file and have a balance, but you can’t pay all of the tax due on your return you can call the irs and speak to an agent about it or you can let us eliminate that debt for you.

 

If your return wasn’t filed by the due date (including extensions of time to file):

  • You may be subject to the failure-to-file penalty, unless you have reasonable cause for your failure to file timely.
  • Tax not paid in full by the original due date of the return (regardless of extensions of time to file) may also result in the failure-to-pay penalty, unless you have reasonable cause for your failure to pay timely, or the IRS has approved your application Form 1127.pdfApplication for Extension of Time for Payment of Tax Due to Undue Hardship).
  • Interest is charged on taxes not paid by the due date, even if you have an extension of time to file, and is also charged on penalties.
  • There’s no penalty for failure to file if you’re due a refund. However, you risk losing a refund altogether if you file a return or otherwise claim a refund after the statute of limitations has expired. An original return claiming a refund must be filed within 3 years of its due date for a refund to be allowed in most instances. After the expiration of the three-year period, the refund statute prevents the issuance of a refund check and the application of any credits, including overpayments of estimated or withholding taxes, to other tax years that are underpaid. However, the statute of limitations for the IRS to assess and collect any outstanding balances doesn’t start until a return has been filed. In other words, there’s no statute of limitations for assessing and collecting the tax if no return has been filed.