You may have gotten notices in the mail requesting that you send in unfiled tax returns. The IRS might have assessed you with an unbelievable tax debt by filing Substitutes for Return. You may just be looking to get your life in order. Whatever your reason for thinking you might need to file late tax returns, you need to get as much information as possible. This page will give you what you need to get started!
File Late to Avoid a Higher DebtWhen you do not file a required tax return, the IRS files what is called a Substitute for Return. This type of return is not filed in your best interest. The following rules apply to all Substitutes for Return:
- You are filed as Single or Married Filing Separately.
- No deductions, credits, or dependents are used.
- You are filed at the highest tax rate, which is double the average rate.
This alone generally leads to a very high tax debt. On top of this, you can expect Failure to File and Failure to Pay penalties as well as interest. So, how does it help to file late taxes? When you file late taxes, you can replace Substitutes for Return or avoid them from filing entirely. You can use the correct tax rate, deductions, credits, dependents, and filing status that will work to your best benefit. There is absolutely no advantage to not file late taxes. Letting it go undone only leads to more problems.
How to File Late TaxesIf you want to file late taxes, you must first contact the IRS to find out what is really missing. You may have more unfiled years than you think. Call 800-829-1040 to find out what years are missing and what years the IRS has filed Substitutes for Return.
You cannot file late taxes online. They must be done on paper and mailed to the correct location. To do this, look up the correct prior year tax form on the IRS website or ask the IRS to mail you a copy over the phone. If you send your returns to the wrong address, it will be the same as if you did not file late taxes at all. You can make sure that you find the correct IRS mailing address online or get that information while talking to an IRS representative over the phone.
If you need to file late taxes for several years or owe more than $10,000 from Substitutes for Return, you need help from an expert. Consult a professional. Call now or fill out the form below for a free tax debt consultation to file late taxes and lower your debt! We'll only connect you with a tax debt relief company holding at least a B rating with the Better Business Bureau.