Delinquent Tax Returns or Back Taxes
Delinquent Tax returns are the ones that have not been filed and the due date has expired (including extensions).
There are serious consequences for failure to file, if you were liable to file a return. Remember you are required to file if you have taxable income. If there are taxes withheld but you do not owe any taxes, to claim this refund, you have to file a tax return. The timeline is three years from the date the return is due, including extensions, or two years from the date the taxes are paid. if you file beyond this time period, you forfeited your refund.
The IRS has the authority to prepare a substitute for return (SFR) based on the information that the IRS has on the delinquent Taxpayer. The IRS is mandated to protect the Government interest in preparing the SFR. If you are married, they may prepare return as married filing separately; you have dependents, the IRS does not know, hence not give you benefit of the dependents. Consequently, return prepared may not be in your best interests. On this, the IRS will assess interest and penalties.
Contact us for more information or call us in our Doral, FL office at Call 305-500-9361 today!