Important Reasons to File

Here are important reasons for you to act now to start the process for reporting compliance.

 

The IRS requires reporting compliance which means filing all missing tax returns when you meet with an IRS Collection Office or to get any favorable treatment.

 

  • No IRS Help. The IRS and State Revenues cannot even help you when you have just 1 missing tax return.
  • IRS Requires Compliance.  The IRS Revenue Collection Officer must require you to file all delinquent business tax 
  • Short Time for Compliance.  Returns and usually sets a 30 days or less time frame for reporting compliance.
  • Requirement for OIC Acceptance.  The IRS will not even accept an Offer in Compromise for Processing when you have even 1 delinquent tax return.
  • SFR Usually Hurts YouWhen you have delinquent tax returns the IRS probably filed a Substitute For Return [SFR] which usually overstates income and does not consider dependents exemptions or allowable deductions.  When there is a SFR the total tax liability is usually overstated.  Filing the actual return usually reduces the SFR total.
  • Reduce Risk of Criminal Prosecution.  When you file before the IRS finds you the risk of criminal prosecution and a prison sentence is reduced.
  • Regain Control of Your Life.  You can better control life changes like marriage, divorce, getting a home mortgage, starting a new job, avoiding IRS wage garnishments and bank levies, and federal tax liens when you have filed delinquent tax returns.
  • Become Creditworthy Again.  Banks, savings and loans, and credit unions deny applications for credit and mortgages when there is a federal tax lien.
  • Bankruptcy Courts Require Filing All Missing Returns.  Any bankruptcy court will require you to file all missing tax returns or face dismissal of your petition.
  • Peace of Mind.  You regain peace of mind and assure that the powerful collection department of the IRS and state revenue departments will quit contacting you and if you cannot pay then you may qualify for a payment agreement, an offer in compromise or a determination of not currently collectable.