Do You Have Unfiled Tax Returns?
It is very important to file federal (and state) tax returns by their due date. For individuals, not filing a tax return when originally due may mean losing tax credits which you are legally entitled to receive. Even if a business owner operates a pass-through organization, these tax returns need to be filed by their due dates as well. Not filing corporate tax returns on time may lead to hefty penalties from both the IRS and state tax authorities; these fines are usually in the thousands of dollars.
Thankfully, Virtual Accounting and Tax can help you with your unfiled tax returns. Do yourself a favor and call us today and get peace of mind! The IRS generally requires taxpayers be up-to-date with all prior year tax return filings before setting up formal installment agreements with taxpayers.