Delinquent Tax Preparation

Jozwiak Law has prepared numerous delinquent tax returns on behalf of our clients. It is not unheard of for people to go for very long periods of time without having ever filed a return, in some cases decades. Whatever the time period, we advise that you address this situation as soon as possible.

By employing the services of our firm's attorneys, CPAs and Tax preparers you can be assured that your multiple years of delinquent returns will be handled most efficiently. Also, if a part of your financial records have been lost or destroyed, we have time proven methods to resolve these issues for you. By obtaining any income and expense information that the Internal Revenue Service may have on our clients, we are also able to conduct a review to be assured that the income and expenses being reported, do not appear to be out of line with what would actually be the client's true financial picture.

Both the Federal and State Governments consider willfully not filing returns to be a serious breach of law. Conviction of these crimes can often result in a jail sentence, severe fines and stiff penalties; in addition to the actual amount of taxes, penalties and interest owed on the return.

Offers in Compromise require you to be fully compliant before entering into any negotiations.

Here at Jozwiak Law, we know how daunting a task it is for the typical taxpayer or preparer to reconstruct five or ten years or even decades of delinquent returns. This seemingly insurmountable task is most probably what has led the taxpayer so far off track to begin with. To complicate matters even more, the long interim between fillings has frustrated the taxpayer to the breaking point, due to the loss or destruction of the files relevant to their income, expenses and banking. The fact that the tax forms and rules are changed each and every year does not offer much comfort either.

If you do not voluntarily file your delinquent tax returns, rest assured that the Internal Revenue Service will proceed on their own by filing a return on your behalf that they will have simply made up. They will assess taxes, penalties and interest, and then begin the process of collecting them. This will be done through the legal process of garnishing your wages, placing a levy on your bank accounts, seizing your home or any other property of value they may discover. The most detrimental aspect of having the issue resolved in this manner, is that the Internal Revenue Service rarely takes into account any exemptions for family deductions, deductions attributed to home mortgage interest, or valid business expenses, to name just a few. They will only consider your income as reported to them. Once they have attached your wages and assets, you will not be free of this process until all judgments against you are satisfied.

If allowed to progress to the above mentioned point, a taxpayer can find himself facing tax bills totaling hundreds of thousands of dollars, despite the fact that their actual income is relatively modest. Remember, although tax refunds may only be credited to you for a limited amount of time, the IRS can collect any taxes owed at almost any time, if not forever.

So remember that the longer you wait to resolve any problems similar to these, the more you will pay in taxes, penalties and interest. Seeking the services of a qualified tax attorney to help resolve these festering problems is your best solution.

If you feel that any of this applies to you or your situation, do not hesitate to call us for an appointment.