Hey ,
Did you know that filing your back taxes can benefit you?
Here are some reasons why you should file your past-due returns as soon as possible:
- You may be eligible for a tax refund.
If you had too much tax withheld from your paycheck or qualified for certain tax credits, you may be entitled to get some money back from the IRS. But you only have
three years to claim your refund, so don’t delay!
- You can avoid penalties and interest.
The IRS charges a failure-to-file penalty of 5% of the unpaid tax per month, up to a maximum of 25%. There is also a failure-to-pay penalty of 0.5% of the unpaid tax per month, up to a maximum of 25%. And on top of that, you will owe interest on the unpaid tax at the federal short-term rate plus 3%. These charges can add up quickly, so the sooner you file and pay, the less you will owe.
- You can prevent collection actions.
The IRS can take severe measures to collect your back taxes, such as garnishing your wages, levying your bank accounts, or placing a lien on your
property. Filing your back taxes can help you avoid these actions and work out a payment plan or an offer in compromise with the IRS.
Don’t miss this opportunity to file your back taxes and get your finances in order. Contact us at (202)-618-1297 or click the link below to get started.
