Income Tax Preparation
CURRENT AND DELIQUENT TAX RETURN
We prepare current year income tax returns as well as past due tax returns. If you have not filed a tax return, the IRS could file a return for you.
The IRS has a number of programs it uses to track down individuals and businesses that have not filed their Income Tax Returns (Forms 1040, 1065, 1120s) and or Employment Returns (Forms 940, 941s).
It is important that you take action to protect yourself from IRS enforcement by getting proper advice and counseling as to what actions could result from your non-filing.
- The IRS uses a profile of you and your business to determine if you have a filing requirement and verifies that you have met that requirement.
- The IRS also matches W-2s and 1099s it receives to verify that they have been reported to IRS on a tax return. If no match is found, an investigation is initiated.
- Failure to File an income tax return can be grounds for a Criminal Fraud investigation with penalties up to one year in jail and fines of $10,000 per year.
If the IRS has filed returns for you, it is important that you file correct returns because IRS prepared substitute for returns are not dischargeable in a bankruptcy and may not reflect your correct exemptions, deductions and expenses.