Back Taxes
There's no shame in falling behind on your taxes, but burying your head in the sand is the wrong way to resolve your tax issues.
In most situations back taxes situations arise from not filing tax returns on time. Did you know that IRS files Automated Substitute for Return (ASFR) for you if you fail to file on time? Notice word “Automated” in this phrase, it’s done by computer, not a human being. And rest assured, that computer does not take into account any deductions or credits that otherwise you might be benefiting from, like mortgage interest, property taxes, child tax credit etc. Therefore when you receive a notice from the IRS with the assessed amount for the tax year you didn’t file a return for, the first thing to do is to file tax return for that year. No matter how many years you are behind. It can be cumbersome and confusing to determine whether IRS is right or wrong, that’s why hiring a tax professional can not only simplify your life, but also significantly reduce your tax liability.
In other situations back taxes situation comes up if you don’t pay your taxes on time. There are multiple solutions as well to solve a problem. At IBA Tax Group, we provide help with Back Tax problems that arise from unpaid state and federal back taxes, unfiled returns, late filings, and more.
Unpaid taxes trigger the IRS collection process, so taking action early will help to prevent or at least minimize penalties and interest. Even if you can't afford to pay your back taxes, our certified tax resolution specialists will help you establish installment payment plans or negotiate settlement with the IRS to reduce original tax liability.
The tax resolution specialists at IBA Tax Group will assist you with your back tax problems. Contact us today and be on your way to tax relief.
To schedule an appointment Call 888-493-0666, E-mail or Skype us!