Tax Tips Pasadena Tax Attorney & Cpa Unfiled Tax Returns

If you have unfiled tax returns for this year or several years, it is vital that you deal with this with some urgency. The following are tax tips that can help make the process easier:

The first think to know is that filing tax overdue tax returns with the IRS and Franchise Tax Board for California is a situation that can be resolved

If you have any taxes due once the returns are filed, that is a different matter which also can be resolved with the help of a tax attorney or CPA

You dont want to ignore this as the IRS has substantial powers to seize your assets and even commence criminal proceedings against you

If you dont file on time you will be subject to large penaltiesso the sooner you get your house in order the better

If you lose your job and apply to unemployment benefits, you could be ineligible

You will be restricted in arranging financing for a home, car or student tuition if your returns are in arrears. Banks have tightened credit and will ask for tax returns to verify your income. Failure to file tax returns would be a red flag to a financial institution.

The IRS and Franchise Tax Board have sophisticated computer systems to indentify tax evaders. Once you are in their cross hairs they are relentless in going after you. The objective would be to get your overdue tax returns prepared and filed as quickly as possible. This will greatly support your case that you are a law abiding citizen and not a tax evader. Not filing a tax return is a criminal offense.

If you continue to avoid filing, the IRS and Franchise Tax Board have the right to guess at your income and file a return for you. Once this substitute return is filed and you have tax owing, the tax agencies can commence aggressive collection actionseven if the return is quite wrong.

So the solution is get your back returns filed. Who knows, you could even have a refund due but you only have three years to file or your refund is lost. Once the returns have been filed, a tax attorney or CPA can assist you with dealing with the IRS and/or Franchise Tax Board regarding any taxes due. There are programs available to make installments or even reduce tax liabilities.

John Spurgeon is a tax attorney in Pasadena, California servicing clients in the greater Los Angeles area. John Spurgeon & Associates, who are both tax attorneys and CPAs, offer a complimentary initial consultation. Please call 626-440-9518.

About John Spurgeon & Associates

John Spurgeon & Associates is a professional services firm located in Pasadena, California with a focus on tax law and related accounting services. They have extensive experience with federal and state income taxes, payroll taxes and sales taxes. They represent business, non-profits and individuals against the IRS and the Franchise Tax Board (California State Taxes). As both tax attorneys and Certified Public Accountants they offer a broad range of tax related services.