If you have a back tax problem, we can help. Kansas City Tax Mediation is a tax firm that specializes in helping people with all kinds of tax issues. A back tax problem can start small, but if you ignore it for months, or years, the interest and penalties can grow to unmanageable amounts. We represent individuals and businesses and can help resolve an array of tax complications.
Often, a back tax problem is caused by unfiled tax returns. Handling all those years of taxes may sound like a nightmare to you, but we will make the process as smooth as we can. And if you’re worried because you don’t have all your old tax forms, we can help you get that information as well.
For several reasons, the first step in resolving IRS debt and getting rid of a back tax problem is to prepare any unfiled tax returns. Doing so will immediately stop the failure-to-file penalty, which is 5 percent of the unpaid taxes for each month a return is late, up to 25 percent of your unpaid taxes. Filing the returns also shows the IRS you’re making steps in the right direction.
If the IRS wants to estimate how much you owe but you have unfiled returns, they may file substitute returns in your name. Sounds great… but unfortunately these returns will only provide income, but nothing in the way of deductions, credits, dependents, or anything that may help you pay less tax. We help you go back and file the original tax returns. Now that the IRS has the correct figures, the estimate of how much you owe can go down. The important thing to know is that a back tax problem doesn’t have to ruin your life. We can help in many ways!