Delinquent Tax Liability? Find out what you can do!


Facts on Delinquent Tax Returns & Debts

delinquent tax helpThe word "delinquent" is defined as being guilty of neglecting your duties or obligations. So, it makes sense that the IRS take delinquent tax issues very seriously. You should as well. If you have a delinquent tax return or tax debt, you may face significant problems. This page will help you find out if you have any delinquent tax issues and what IRS problems you should work to avoid.

Delinquent Tax Return

You are not always required to file a tax return. If you were self-employed and never made a penny more than $400, you certainly wouldn't have to submit anything to the IRS. However, if you made any sort of real taxable income or want to claim a refund, you should file your tax return. If you have more than six years of delinquent tax returns, you should contact the IRS to see how far back they are looking for your tax returns. You may save yourself quite a bit of time and money.

What Should You Expect?

If you have delinquent tax returns, you cannot escape a tax debt. If the IRS sees that you had taxable income for unfiled years, they will often file a Substitute for Return for you. This return is prepared as single with no deductions at the highest possible tax rate. Many people find that they wind up with very high tax debts for years they otherwise would have received a refund.

Those with delinquent tax returns are the only people that the IRS can sentence to jail. It isn't that common. However, if the IRS considers you a tax protestor, you will very likely find yourself in tax court. Wesley Snipes is a very famous example of what lengths the IRS will go to in regard to delinquent tax returns.

What Should You Do?

You should contact the IRS and give them a time frame that you believe you can reasonably file all of your delinquent tax returns. If the task seems daunting or you are unsure if you will be able to file them correctly, contact a tax professional. The key here is that either you or a tax professional need to communicate with the IRS and file the delinquent tax returns quickly.

Delinquent Tax Debt

Any tax debt that isn't fully paid after April 15th is considered a delinquent tax debt. However, a delinquent tax debt that is three months old is not as severe as one that is three years old. If you are getting letters demanding payment or making threats, your delinquent tax debt is progressing into a critical situation.

What Should You Expect?

You can count on a lien being placed on your credit. This is pretty much a knee-jerk reaction by the IRS for delinquent tax debts. Levies are also a very common method employed by the IRS. Not only does it help them forcefully collect money to help pay off your tax debt, but it also is very effective in motivating people to start paying their delinquent tax debts. In more serious cases, those with delinquent tax debts may wind up the victims of an IRS seizure. You could lose everything you own.

What Should You Do?

As with delinquent tax returns, communication with the IRS is very important. If you know for certain that your tax debt is under $10,000, you may be able to successfully work out a reasonable agreement with the IRS yourself. However, if you have a higher delinquent tax debt, you should definitely consider consulting a tax professional.

If you need delinquent tax help, consult a professional. Call now or fill out the form below for a free tax debt consultation on how to handle your delinquent tax problems! We'll only connect you with a tax debt relief company holding at least a B rating with the Better Business Bureau.


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