Denson Pepper has been a CPA in public practice for more than 40 years in GA. His office is in Acworth, GA. He specializes in helping people with their IRS and state income tax problems.
Non-filing of returns is widespread in our country. Many people seem to believe that if they do not receive an IRS notice inquiring about a return, they are not subject to filing. This misconception will probably cause a lot of financial and legal heartaches in their future.
There are also several unpleasant consequences to non-filing. The IRS will often file a return for you with scant deductions allowed. If you do not submit your return in a timely manner, you will be assessed this incorrect amount and it becomes a costly process to have it corrected. The statute of limitations never runs on non-filed returns.
The starting point in dealing with the I.R.S. is to have all income tax returns filed. Once you are complying, the next step is to analyze your repayment options. This is done by first preparing a monthly statement showing monthly income reduced by allowable deductions. The next step is to speak with a professional about the pros and cons of different repayment plans.
It is important that you file all required income tax returns. Once the tax has been assessed, the IRS generally has ten years to collect the debt.
We help people deal with the tax authorities in a professional manner. Non-filing is a problem that does not disappear over time.