Why You Shouldn’t Ignore Unfiled Tax Returns

Unfiled tax returns can lead to severe penalties, interest, and even legal consequences. If you’re in Arlington, TX, and haven’t filed one or more years of taxes, you’re not alone.

Many individuals and businesses face this challenge, and the good news is that solutions are available. At Real Tax Resolution, we specialize in helping our local community navigate tax issues with ease. 

The IRS doesn’t forget about unfiled taxes. Over time, the consequences grow, including:

• Penalties and Interest: Late-filing penalties can be as high as 25% of your unpaid taxes. Add interest, and the debt can quickly spiral out of control.
• Loss of Refunds: If you’re owed a refund, you only have three years to claim it. After that, the money goes to the U.S. Treasury.
• Substitute Returns by the IRS: The IRS may file a return on your behalf, usually overestimating your tax liability because they won’t include deductions or credits.
• Risk of Legal Action: In extreme cases, failure to file can lead to criminal charges.

Steps to Take If You Have Unfiled Returns

1. Stay Calm and Take Action: Acknowledge the issue and make a plan. The sooner you act, the better your chances of minimizing penalties.
2. Gather Your Documents: Collect W-2s, 1099s, or any other income records. If you’re missing documents, Real Tax Resolution can help retrieve transcripts directly from the IRS.
3. Consult a Tax Professional: Filing years’ worth of back taxes can be overwhelming. Our team specializes in creating a tailored strategy to address your situation.
4. File Your Missing Returns: We ensure that your returns are accurate and take advantage of every deduction and credit you’re entitled to.
5. Negotiate with the IRS: If you owe money, options like installment agreements, Offers in Compromise, or penalty abatements may be available.

Why Choose Real Tax Resolution in Arlington, TX?

Real Tax Resolution is a trusted local resource for individuals and businesses facing unfiled tax returns. We provide:

• Expert Guidance: Our team has deep knowledge of tax laws and IRS processes.
• Personalized Solutions: We work with you to develop a plan that fits your unique needs and financial situation.
• Community Focus: As part of the Arlington, TX, community, we understand the challenges our neighbors face and are committed to helping you achieve financial peace of mind.

Don’t Delay—Start Resolving Your Tax Issues Today

Unfiled returns don’t have to define your financial future. Contact Real Tax Resolution in Arlington, TX, to schedule a consultation. Together, we’ll create a path to resolution and help you regain control of your finances.