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Written by Barry Fowler | Posted in Tax Tips

It’s a brand new year and you’ve decided to take a deep breath and finally address your unfiled and unpaid taxes.

Yes, it’s scary, but you know it’s not getting any better and your tax bill is getting bigger every day you ignore it.

This happens so often that you might be able to take some comfort in the fact that you are not alone. A majority of my clients contact my offices in similar circumstances. The longer you pretend the problem doesn’t exist the worse it gets. But, you can also take comfort in knowing that when you finally decide to work with a reputable tax resolution firm, you’ll feel a great sense of relief immediately.

If you’re reading this, chances are you haven’t filed taxes in a few years or more.

Also, another highly motivating reason for addressing your taxes now is that the Internal Revenue Service plans to begin private collection of certain overdue federal tax debts as early as spring of 2017.

Depending on your specific circumstances it could take as little as a month or as long as several years to reach a settlement decision. Some cases are more complex than others.

First things first: The IRS won’t resolve your tax liability issue unless all past due tax returns are filed. You’ll want to know your tax resolution representative knows how many years your taxes are delinquent. If you don’t know, ask your representative to ask the IRS what returns have been filed, what taxes you owe, and if any refunds have been applied to your delinquent taxes.

Once this has been established, the IRS will want you to commit to a deadline for filing your back tax returns. By then the severity of your situation will be clearly established and you can work with your representative to rectify the situation in the most amenable way.

We know that taxes can easily take you by surprise, especially if you’re self-employed or a contract employee. If you’ve decided 2017 is the year you are going to straighten out your IRS tax issues and need help contact us for a free consultation today so you’ll know exactly what to expect.

Barry Fowler

Barry Fowler is licensed to represent taxpayers before the Internal Revenue Service (IRS) and is a longstanding member of several tax industry professional organizations including the National Association of Enrolled Agents (NAEA), National Association of Tax Preparers (NATP), Texas Society of Enrolled Agents (TSEA), and the American Society of Tax Problem Solvers (ASTPS). With experience in the tax and finance industry spanning over twenty years, Fowler’s expertise includes tax resolution, personal financial planning, tax return preparation, financial statements, and general ledger bookkeeping. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.