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What To Do About Tax Returns Which Weren’t Filed Yet

It is not surprising to find out that some people don’t pay taxes to the government however what’s surprising is the fact that they have been doing this for a long time already with some of them are not paying their taxes for more than a year. So you may even consider it as an undesirable fact that until now, there are still people who have never paid the government about what they really have to pay? So many wonder about what will be the statute of limitations for unfiled tax returns. There are some people who might be wondering about the existence of a statute of limitations for anyone who may not have paid their taxes for a long time or for those who have never paid at all. There are a few cases wherein the taxpayer files for bankruptcy but they still doubt about the amount they owe to the tax bureau. Spending some time in prison because they weren’t able to pay their tax revenues on times are just some of the reasons why people are afraid to file their tax returns.

The taxes we file in the government and the common questions we might ask the bureau will be answered within this article.

1. Supposedly, I didn’t file any tax returns for many years already, does it mean that I still have to pay for those years that I skipped?

Well if you have an existing substitute filed return (SFR), then you don’t have a choice but to pay for it otherwise you will be punished and in some cases wherein there’s no SFR filed against you you can hire some tax return lawyer to negotiate in your behalf.

Is there a need for me to apply for a tax return even though I can’t afford to pay my taxes?

You have to because if you fail to do so, you might spend some time in prison. Reasonable Collection Potential (RCP) can help you pay less amount of money for your dues and the perfect time to do it is when you don’t have enough money to pay for your taxes.

If I have some unpaid debts in the IRS, will they still allow me to get or renew my passport?

Once you have an existing balance with the tax bureau, you can still get your passport however if did violate some of the rules of the IRS, they might have your passport cancelled. Just follow the rules and pay what you owe to the tax bureau first so that there will be no more existing violations and you can have your passport back.

So what are you waiting for?

Source: Tax

On Options: My Experience Explained

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