experts provide both current and delinquent tax (back tax)
preparation and bookkeeping services to all types of entities,
including individual, corporations, limited liability companies,
partnerships and trusts. Tax preparation services provide for the
preparation of both State (including multiple states) and Federal
Unfortunately, many people
allow a minor tax issue to escalate into a major one by not filing
their back tax returns simply because they do not have the money to
pay the tax.
Even if you don't have
enough money to pay, returns should be filed to avoid further
The statute of limitations
for collection of the tax never begins until an assessment is made.
Neither the IRS or State
taxing agencies will allow for an
Installment Agreement or a settlement such as an
Offer in Compromise unless all tax returns are filed.
If you are currently in an
installment agreement then the non-filing of a tax return will
default the agreement.
The IRS could file a tax
return for you called a Substitute For Return (SFR). The IRS might
not give credit for deductions and exemptions a taxpayer may be
entitled to receive. This could cause the tax liability to be
larger than necessary.
who do not file a delinquent tax returns will not receive credits
toward Social Security retirement or disability benefits. Failure to
file results in not reporting any self-employment income to the
Social Security Administration.
Now is the time to get
yourself back into the system. Once the tax liabilities are
assessed, Sunrise will assist you in making arrangements for
repayment (Installment Agreement) or making a settlement (Offer in
Schedule an appointment
today to have a licensed professional assist you with all your
current or back tax return preparation or bookkeeping needs.