Accounting News and Notes

Duluth/Gwinnett CPA…Filing Your Back Taxes Before the IRS Calls

If you have not yet file, it is not too late to get your return accurately filed, processed, and paid. Although it is too late to avoid the IRS’s potentially assessing the late filing penalty in addition to any late payment penalties which might be due. As our tax system is a voluntary system the IRS has incentives such as these to encourage taxpayers to pay file and pay their taxes as they become due.

The IRS as well as individual states are a pay as you go system requiring taxpayers to pay their taxes as they earn the monies to which they relate. Many fall prey to believing that an extension to file is an extension to pay and it is anything but that and is well spelled out in tax law that taxpayers are required to submit monies for their taxes as their salaries, profits, and taxable income are earned.

If you have filed and paid late the IRS has several programs geared toward working with taxpayers who have failed to meet required dates and guidelines. Contact us today; you will be glad you did.

We have recently helped several taxpayers get back into the tax system including:

-         A Contracting Business who needs to file three years of old back corporate and personal income taxes for their S Corporation and Form 1040.

-         A W-2 employee who had not filed personal income taxes for over fifteen years.

-         A home remodeler who had not filed their proprietorship returns for five plus years.

-         A labor staffing agency who has not file their income tax returns for four years.

We can help you and your company as well as your personal income tax returns get their old back taxes file and then we can handle the IRS representation issues while looking at:

-         Keeping your taxes as low as legally possible

-         Submitting an Offer in Compromise

-         Setting up a payment plan

-         Penalty Abatement

-         IRS representation

-         IRS Offer in Compromise

-         Tax Problems

-         Back Taxes

-         Tax Lien

-         Tax Levy

-         Georgia Offer in Compromise

-         Wage Garnishment

-         IRS Form 656, IRS Form 433A & IRS Form 433B

-         Power of Attorney

 We advise clients on: IRS representation, Offer in Compromise, Tax Problems, Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Back Taxes, Business Acquisitions/Sales, Forensic Accounting, Business Valuations and Bookkeeping.

www.HisCPA.com  A Christian CPA Firm in Duluth GA Proudly Serving Suwanee, Lawrenceville, Snellville, Lilburn, Duluth, Norcross, Peachtree Corners, Atlanta, Gwinnett, Fulton, Johns Creek, Roswell, Forsyth, Flowery Branch, Buford, Cumming, Dunwoody, Alpharetta, Dunwoody, Sandy Springs and Tucker as a Faith Based CPA Firm

This entry was posted on Monday, July 23rd, 2012 at 9:35 am and is filed under IRS Representation, Back Taxes, Offer in Compromise, IRS Tax Problems, Tax Advocacy.
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