If I haven’t filed a tax return in years, is it better to start filing now or wait until the IRS asks for a return?
The best thing you can do is file your tax return as soon as possible. The IRS will eventually find out that you haven’t paid taxes through employers, contractors, mortgage holders or previous documents. The longer you go without paying taxes, the more fines you will have to pay. If you can’t pay all of your taxes, you may be able to qualify for an Offer in Compromise, Installment Agreement or Currently Not Collectible Status.
Related Questions
- The tax payer filed an extension this past tax year. How long does it take the IRS to add the tax return to their database?
- If I haven’t filed a tax return in years, is it better to start filing now or wait until the IRS asks for a return?
- Would filing an amended tax return cause a red flag & result in a possible IRS Audit?
