Los Angeles, CA (PRWEB) December 12, 2019
As the upcoming tax season approaches, some taxpayers may still be struggling to file back taxes before they submit their new ones. For those taxpayers who have back taxes they have not yet filed, Platinum Tax Defenders can help. The professional tax relief experts at Platinum Tax Defenders have been assisting taxpayers in filing back taxes and getting out of tax debt for over ten years.
Platinum Tax Defenders can help those who haven’t filed taxes in years get their records straight with the IRS, and also help them file their future tax returns.
“It’s so imperative for taxpayers to understand the importance of filing back taxes,” says Sherri Gastelum, CEO of Platinum Tax Defenders. “There can be serious consequences for not filing back taxes. What we often see in our customers is they don’t take care of their back taxes while there’s still time. Eventually, interest and penalties from unpaid back taxes increase, and before they know it, they’re in debt and having a hard time getting out from under it.”
The first step any taxpayer must do before attempting to file back taxes is to gather all of their tax documents from the year in question. Gather all of your W-2s and other tax documents for the years you didn’t file. If you need copies of your tax documents, you can request them from the IRS, or contact your employer that would have sent them to you.
Next, depending on how many years you have that you didn’t file, you’ll want to hire a professional. Platinum Tax Defenders have a team of professionals, including enrolled agents, certified public accountants, and tax attorneys who are prepared to help taxpayers with any tax issue. Hiring a tax professional to file back taxes can be beneficial because they’ll know the tax regulations better than anyone, and laws vary by tax year.
Additionally, a tax relief expert will be able to help you claim any refunds for which you may still be eligible. Generally, the IRS allows you to collect reimbursements for up to three years from the date your tax return was due before the refund expires. However, if you owe tax debts from other years, the IRS will take your refund and often apply it to that debt.
If you find after filing back taxes that you owe the IRS back taxes, you’ll want to come up with a plan to pay back your taxes. Depending on how much you owe the IRS, it will be helpful to have the help of a professional tax relief expert. If you owe the IRS more than you can pay, a tax relief expert can help you negotiate a payment plan with the IRS, or help you negotiate an Offer in Compromise deal. An Offer in Compromise deal would allow you to pay back your tax debt for much less than you owe. Also, an Installment Agreement is one in which you would come to an agreement with the IRS regarding how much you can pay monthly toward your tax debt. The professionals at Platinum Tax Defenders have years of experience negotiating payment plans for their clients and are prepared to help you with your tax needs.