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The IRS assesses penalties and interest if you fail to file a return, fall
behind in filing or fail to pay your taxes on time. The consequences are both
civil and criminal. The least of these consequences is a penalty fee for filing
late and an interest fee added to your late payment. Interest fees continue to
grow the longer the problem is unresolved. And unresolved tax liabilities can
destroy your credit rating, effectively preventing you from owning a house or a
car. Criminal action can mean one year of incarceration for each tax return you
fail to file.
Although the IRS does not prosecute most cases, the threat of prosecution
implies the reality. The risk alone is intimidating.
The first step toward resolution is to file a power of attorney, which removes
you from direct communication with the IRS. After obtaining your file, we can
either prepare and complete your return(s) or work with your accountant. In the
case of a liability, we will work with you to reach a resolution through one of
the methods available.
Tax problems do not go away. And the longer you wait to face them, the greater
the odds that you will be randomly selected to be a test case for prosecution.
Facing your problem now is better than having the IRS levy your wages, bank
accounts, Social Security and pension benefits; certainly, it's better than
facing a jail term. |
