Tax Preparation

Individuals earning income in the United States pay a percentage of their earnings to the Internal Revenue Service (IRS) in the form of individual income taxes.

Every business except partnerships must file an annual income tax return, whether they are a small business, sole proprietor or large corporation.

All employers must report and deposit employment taxes to the Internal Revenue Service (IRS) throughout the year.

Late returns

Return filed

Returns not filled

In compliance with the tax authorities

Tax authorities will not cooperate with any tax resolution work

Proceed with tax resolution work

Stop tax resolution work

Return filed

Returns not filed

In compliance with the tax authorities

Tax authorities will not cooperate with any tax resolution work

Proceed with tax resolution work

Stop tax resolution work

The importance of filing all unfiled tax returns

The challenges of filing late tax returns

It is very difficult to collect all of the  documents you need to file a tax return if you have several years’ worth of unfiled tax returns in addition to a less-than organized record keeping system. Document include w-2s, 1099s, interest statements, mortgage statements and more. Although it is not impossible to collect all the required tax data and prepare an accurate and complete tax return, it not only presents a challenge, but is very time consuming, the further back you need to go.

When you are dealing with a tax issue that is time sensitive, the least thing you have is time. Preparing multiple years of tax returns, especially late  and older ones, can take a significant time commitment, especially if you do not have the experience of dealing with such returns.

The cost of completing and filing many tax returns at the same time can be expensive. The same complexity extends beyond the time commitment to the cost commitment.

The options of filing all your returns

Use your own tax professional to prepare your delinquent tax returns. It is important that you make sure your preparer is aware of your tax default situation, and the time constraints associated with it. You can also try to negotiate the tax preparation costs per tax return.

You can use a self-preparation software that would allow you to enter your tax information into the system in an interview style. Of course, you have to assume the risks that comes with preparing your own tax return. These risks are due to the lack of experience or a low level of experience in preparing tax returns, especially ones for past years and or the ones that are more complex.

As a tax company, our management team has prepared tens of thousands of tax returns at all levels of complexity, covering individuals and businesses of all legal structures and in many industries. Our experience will ensure that your tax returns are prepared in the best way possible, minimizing your tax liability as much as it is possible.

We are experts in preparing tax returns for prior years, even when you do not have the source documents and cannot locate important information. With your authorization we pull that information and use it to prepare the tax return.

Contact us as soon as you can

Our consultation is FREE. The sooner you contact us, the sooner we can get to work for you.

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