Unfiled Tax Returns
Collin, Dallas, Denton, Grayson, Tarrant and all Surrounding Texas Counties
Unfiled Tax Returns Lawyers Carrollton Texas
Trusted Assistance With Unfiled Tax Returns
Unfiled tax returns can lead to serious consequences, including hefty penalties, interest charges, and even criminal prosecution. Ignoring the issue won’t make it go away—in fact, it will only make matters worse. At Davis Law Firm, our trusted IRS Tax Lawyers are here to help you navigate the complexities of unfiled tax returns and get your financial life back on track.
Failing to file your taxes can result in missed opportunities to claim deductions, credits, and other tax benefits. This often leads to overpayment and lost resources. Additionally, the IRS may file a Substitute for Return (SFR) on your behalf, which typically doesn’t account for all eligible deductions and credits, inflating your tax liability.
Our experienced IRS Tax Lawyers at Davis Law Firm are dedicated to assisting clients in Carrollton, Texas, and surrounding areas, including Collin, Dallas, Denton, Grayson, Ellis, Tarrant, and nearby counties. We are committed to helping you file your unfiled tax returns, resolve any associated IRS debt problems, and prevent potential civil and criminal sanctions.
When you work with our skilled tax lawyers, you can rest assured that we will handle all communications with the IRS. Our team will meticulously review your financial situation, prepare accurate tax returns, and develop a personalized strategy to address your unique needs. We understand the nuances of dealing with the IRS and are prepared to provide the support you need to navigate this challenging situation.
Don’t let unfiled tax returns hang over your head any longer. Contact Davis Law Firm today at (469) 436-8010 for a free case evaluation and take the first step toward resolving your tax issues with confidence and peace of mind.
Legal and Financial Consequences
When you don’t file your tax returns, the IRS imposes penalties and interest charges that can quickly add up. Each month your return is late, you accrue a 5% fee on your unpaid taxes, up to a maximum of 25%. This can significantly increase your overall tax liability, making it even harder to resolve.
In more severe cases, failing to file taxes can lead to criminal charges. The IRS can prosecute you for tax evasion, which carries penalties of up to five years in prison and fines up to $250,000. Our trusted IRS Tax Lawyers at Davis Law Firm can help you address these issues before they escalate to this level.
Missed Opportunities and Overpayments
Unfiled tax returns mean you miss out on valuable deductions, credits, and other tax benefits. This can result in overpaying your taxes and losing out on potential refunds. The IRS may file a Substitute for Return (SFR) on your behalf, but these returns do not account for all eligible deductions and credits, leading to inflated tax liabilities. Our skilled IRS Tax Lawyers will ensure that your returns are accurate and that you take advantage of all available tax benefits.
IRS Actions: Audits, Liens, and Levies
Failure to file can trigger a series of IRS enforcement actions, including audits, liens, and levies. An audit can be both time-consuming and stressful, as the IRS scrutinizes your financial records. If the IRS determines that you owe taxes, they can place a lien on your property or levy your bank accounts and wages to collect the debt. These actions can severely impact your financial stability and credit rating.
Why File Unfiled Tax Returns?
Filing your tax returns, even if they are late, is essential for avoiding severe financial and legal consequences. At Davis Law Firm, our experienced IRS Tax Lawyers are dedicated to helping you navigate the complexities of unfiled tax returns and ensure you take advantage of all available benefits.
- Avoid Escalating Penalties and Interest – The longer you wait to file your tax returns, the more you will owe in penalties and interest. Each month, the IRS imposes a 5% penalty on your unpaid taxes, up to a maximum of 25%. These charges can quickly add up, making it even more difficult to resolve your tax debt. Filing your returns promptly can stop these penalties from increasing and reduce your overall liability.
- Reduce Your Tax Liability – When the IRS files a Substitute for Return (SFR) on your behalf, they do not include any deductions, credits, or exemptions you may be entitled to. This often results in an inflated tax liability. By filing your returns yourself, you can claim all eligible deductions and credits, potentially lowering the amount you owe.
- Prevent Severe IRS Actions – Unfiled tax returns can trigger serious enforcement actions from the IRS, including audits, liens, and levies. These actions can disrupt your financial stability, damage your credit, and lead to the seizure of your assets.
- Seize Opportunities for Refunds – If the IRS owes you money on your unfiled returns, you may still be able to claim your refund by filing the returns. There is typically a three-year window to claim a refund, so it’s important to act quickly.
- Achieve Peace of Mind – Living with the burden of unfiled tax returns can be stressful and overwhelming. Taking action to file your returns can provide a sense of relief and financial clarity.
The First Step When You Have Unfiled Tax Returns
Consult with a Tax Attorney
The very first step in resolving unfiled tax returns is to consult with a skilled tax attorney. Our experienced IRS Tax Lawyers at Davis Law Firm will review your situation, assess your tax history, and develop a tailored plan to address your specific needs. We will provide you with clear guidance on how to proceed and what to expect, ensuring that you are well-informed and prepared.
Prepare Your Returns
Once you have gathered the necessary documentation, our dedicated IRS Tax Lawyers will help you prepare your tax returns. We will ensure that your returns are thorough, accurate, and comply with all IRS requirements. By carefully preparing your returns, we can help you avoid errors that could trigger additional scrutiny from the IRS.
Avoiding Mistakes and Penalties
Filing unfiled tax returns requires careful attention to detail to avoid mistakes that could result in penalties or further complications. Our skilled IRS Tax Lawyers at Davis Law Firm are experienced in handling these situations and will provide the expertise needed to file your returns correctly. We aim to minimize your tax liability and protect you from potential penalties.
Gather Necessary Documentation
Accurate and complete documentation is crucial for filing unfiled tax returns. Begin by gathering all relevant financial records, including income statements, expense receipts, and previous tax returns. This information will help our IRS Tax Lawyers prepare accurate returns and ensure you claim all eligible deductions and credits. We can assist you in identifying and organizing the necessary documents, making the process more manageable.
Monitor the Progress of Your Returns
After submitting your unfiled tax returns, it’s important to monitor their progress. Our IRS Tax Lawyers will handle all communications with the IRS on your behalf, keeping you informed of any updates or requests for additional information. We will work diligently to resolve any issues that arise and ensure that your returns are processed as smoothly and quickly as possible.
Taking Immediate Action
The sooner you take action to file your unfiled tax returns, the better. Delaying can lead to increased penalties, interest, and the risk of IRS enforcement actions. By contacting Davis Law Firm and working with our experienced IRS Tax Lawyers, you can address your unfiled returns promptly and effectively, securing a more stable financial future.
Why Davis Tax Lawyers
- Trusted Legal Representation – Our experienced IRS Tax Lawyers will handle all communications with the IRS on your behalf. This means you won’t have to worry about navigating complex tax laws or dealing with intimidating IRS agents.
- Personalized Strategies: Every tax situation is unique, and our skilled IRS Tax Lawyers will develop a personalized strategy tailored to your specific needs. We begin by thoroughly reviewing your financial situation and the details of your unfiled tax returns. From there, we create a comprehensive plan to address your tax issues, minimize your liability, and protect your assets.
- Payment Plans: Our Tax Lawyers offer flexible payment solutions to help with obtaining experienced tax audit representation.
- Convenient Appointments: Our Tax Lawyers offer free case evaluations that can work around your schedule including afterhour and weekends. Most initial consults are conducted by phone and zoom to further convenience.
Consequences for unfiled returns
Mounting Penalties and Interest
When you don’t file your taxes, the IRS imposes penalties and interest that can quickly accumulate. Each month your return is late, you’ll incur a penalty of 5% on your unpaid taxes, up to a maximum of 25%. Additionally, interest accrues on both the unpaid taxes and the penalties, increasing your overall debt significantly. Our experienced IRS Tax Lawyers can help you file your overdue returns to stop these penalties from escalating.
Consequences for unfiled returns
Substitute for Return (SFR)
If you fail to file, the IRS may prepare a Substitute for Return (SFR) on your behalf. While this might seem helpful, the SFR does not include any deductions, credits, or exemptions you may be entitled to, leading to an inflated tax liability. Filing your own returns with the help of our skilled IRS Tax Lawyers ensures that all eligible deductions and credits are claimed, reducing your tax burden.
Consequences for unfiled returns
IRS Enforcement Actions
Unfiled tax returns can trigger aggressive enforcement actions from the IRS, including audits, liens, and levies:
- Audits: The IRS may scrutinize your financial records more closely, leading to a time-consuming and stressful audit process.
- Liens: The IRS can place a lien on your property, which affects your credit score and your ability to sell or refinance your assets.
- Levies: The IRS can levy your bank accounts, wages, and other assets to collect the debt, causing significant financial strain.
Our trusted IRS Tax Lawyers at Davis Law Firm can negotiate with the IRS on your behalf, working to prevent or lift these enforcement actions and protect your financial interests.
Consequences for unfiled returns
Criminal Prosecution
In extreme cases, failing to file your taxes can result in criminal charges. Tax evasion is a serious offense that can lead to up to five years in prison and fines of up to $250,000. While criminal prosecution is less common, it’s a risk that should not be ignored. Our dedicated IRS Tax Lawyers are experienced in handling these situations and can help you address your unfiled returns before they escalate to this level.
Schedule a Free Case Evaluation
Dealing with unfiled tax returns can be overwhelming, but you don’t have to face it alone. The dedicated and skilled IRS Tax Lawyers at Davis Law Firm are here to provide the guidance and support you need to resolve your tax issues effectively. Schedule a Free Case Evaluation or call us at (469) 436-8010 to speak with our knowledgeable tax lawyers.
Frequently Asked Questions
Navigating the complexities of IRS garnishments and levies can be daunting. At Davis Law Firm, our experienced IRS Garnishment and Levies Lawyers are here to provide clarity and support. To help you better understand your situation and the options available to you, we’ve compiled a list of frequently asked questions. These FAQs aim to address your concerns and guide you toward taking the right steps to protect your assets and resolve your tax issues. If you need personalized assistance, don’t hesitate to contact us for a free case evaluation.
What are the consequences of not filing my tax returns?
Failing to file your tax returns can lead to severe consequences, including mounting penalties, interest charges, and potential criminal prosecution. The IRS can impose fines, place liens on your property, and even levy your bank accounts and wages. Our dedicated IRS Tax Lawyers at Davis Law Firm can help you navigate these issues and avoid further complications.
Can the IRS file a return on my behalf?
Yes, if you don’t file your tax returns, the IRS can prepare a Substitute for Return (SFR) on your behalf. However, these returns do not include any deductions, credits, or exemptions you may be entitled to, often resulting in an inflated tax liability. Our experienced IRS Tax Lawyers will ensure your returns are accurate and complete, claiming all eligible benefits.
What should I do if I receive a notice from the IRS about unfiled returns?
If you receive a notice from the IRS about unfiled returns, it’s important to act quickly. Ignoring the notice can lead to further penalties and enforcement actions. Contact our skilled IRS Tax Lawyers at Davis Law Firm immediately. We can help you understand the notice, file the required returns, and negotiate with the IRS on your behalf.
How can filing my unfiled tax returns benefit me?
Filing your unfiled tax returns can help you avoid escalating penalties and interest, reduce your tax liability by claiming eligible deductions and credits, and prevent severe IRS actions like liens and levies. Our trusted IRS Tax Lawyers will ensure your returns are accurate and that you take advantage of all available tax benefits.
Can I face criminal charges for not filing my tax returns?
Yes, failing to file your tax returns can result in criminal charges for tax evasion, which can lead to up to five years in prison and fines of up to $250,000. While criminal prosecution is less common, it’s a serious risk. Our experienced IRS Tax Lawyers at Davis Law Firm can help you address your unfiled returns and avoid such severe consequences.
How far back can the IRS go to collect unfiled taxes?
The IRS can generally go back six years to collect unfiled taxes, but there is no statute of limitations on unfiled returns if fraud is involved. It’s crucial to address unfiled returns promptly to avoid further complications. Our skilled IRS Tax Lawyers can help you file past-due returns and negotiate with the IRS.
What if I can’t pay the taxes I owe on my unfiled returns?
If you can’t pay the taxes you owe, there are several options available, including setting up an installment agreement, negotiating an Offer in Compromise (OIC), or obtaining Currently Not Collectible (CNC) status. Our dedicated IRS Tax Lawyers will assess your financial situation and help you find the best solution for your circumstances.
Will filing my unfiled returns trigger an audit?
While filing unfiled returns can sometimes attract IRS scrutiny, it’s better than not filing at all. The IRS is more likely to take enforcement actions against non-filers. Our experienced IRS Tax Lawyers will ensure your returns are accurate and complete, reducing the risk of an audit.
Can I still get a refund for unfiled tax returns?
Yes, you can still get a refund for unfiled tax returns, but there is typically a three-year window to claim it. If you’re owed a refund, it’s important to file your returns as soon as possible. Our skilled IRS Tax Lawyers will help you file your overdue returns and claim any refunds you are entitled to
Can I still file my tax returns if I’m missing some of my financial records?
Yes, you can still file your tax eturns even if you’re missing some financial records. Our dedicated IRS Tax Lawyers at Davis Law Firm can help you reconstruct your financial history using available documents, third-party records, and IRS transcripts. It’s important to file your returns accurately to avoid further penalties and issues. We will guide you through the process and ensure that your returns are as complete and accurate as possible.
Location
2340 E Trinity Mills Rd
Ste 300,
Carrollton, TX 75006
Appointments Only
(469) 436-8010