The massive computer center at the IRS is getting more sophisticated every day; it’s just a matter of time before they catch up with you.
This is not a situation to take lightly. Failing to file your tax returns is a criminal offense. If you do not file, you can be prosecuted and punished with potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file your tax returns?
Let us give you the peace of mind you deserve by helping you comply with the law. If you voluntarily file your delinquent returns, you’ll likely avoid further problems other than having to pay the interest and penalties.
If you wait for the IRS to file your returns for you, they are filed in the government’s best interest, usually with little or none of the deductions you are entitled to.
Before anything can be done to extract you from this predicament, all the returns must be filed. You must be current. In most cases, you will likely owe taxes, interest, and penalties after the returns are filed. Once we see how much is owed, we’ll set a course of action to get you off the hook!
Frequently Asked Questions
What should I do if I can’t pay my tax bill in full?
If you can’t pay your tax bill in full, you can apply for an installment agreement with the IRS. This allows you to pay your taxes over time. It’s important to contact the IRS as soon as possible to avoid penalties and interest.
What happens if I file my taxes late?
If you file your taxes late, you may be subject to penalties and interest on any unpaid taxes. The penalty for filing late is typically 5% of the unpaid taxes for each month or part of a month that your return is late, up to 25% of your unpaid taxes.
What should I do if I receive a notice from the IRS?
If you receive a notice from the IRS, don’t panic. Read the notice carefully to understand the issue, and follow the instructions provided. Often, it’s a simple request for more information. If you disagree with the notice, you can contact the IRS or seek help from a tax professional.
How can I avoid an audit?
While there’s no guaranteed way to avoid an audit, you can reduce your chances by ensuring your tax return is accurate and complete. Double-check for errors, report all income, and keep detailed records and receipts to substantiate your deductions.
Can I deduct my home office expenses?
Yes, if you use part of your home exclusively and regularly for your business, you may be able to deduct home office expenses. The IRS allows for a simplified deduction method or an actual expense method, depending on which is more beneficial for you.
Can I claim a deduction for charitable contributions?
Yes, you can claim a deduction for charitable contributions if you itemize your deductions. Ensure that the charity is a qualified organization, and keep receipts or acknowledgment letters for donations. Contributions of cash or property may be deductible, subject to certain limits.
Our Mission
Founded by a law enforcement veteran, we are committed to optimizing your deductions, offering year-round tax advice, and delivering powerful audit representation.
Our dedication to ongoing education ensures that you receive the most current and comprehensive tax strategies, helping you secure the financial benefits you deserve. At PoliceTax, we stand as your trusted partner, always ready to back you up.
