Friday, May 8, 2009

Filing Past Due Tax Returns

If you filed your tax returns on time the April 15th filing deadline may seem like a distant memory. However, if you filed an extension or missed the filing deadline, the idea of filing a past due tax return should be fresh in your mind.

If you have tax returns that need to be filed you are not alone. It is not uncommon for some taxpayers to go one or more years without filing a tax return. Many times I have seen that a taxpayer fails to file a tax return in a year when financial and life circumstances changed. For reasons related to procrastination, fear, lack of funds, or any other combination of factors a tax return was not filed. An amazing thing happens at first when a tax return is not filed within the system of voluntary compliance- Nothing! Sometimes weeks, months, and years may pass before the IRS requests a tax return or issues a tax assessment for a previous tax year.

Whatever the reason for not filing, tax problems only get worse if a non-compliant taxpayer starts worrying about his or her financial situation but does nothing to change the problem. Everyone has reasons and a life story that explains why a tax return was not filed. It is important to understand and address your individual reasons to avoid future filing problems. The tax resolution process is focused on the future and moving forward. Try to not dwell on your past mistakes or reasons for not filing a tax return. Focus on taking action and following the tax resolution steps.

Scott Spann
LifeSpan Tax Resolution
(877) TAX-9110

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