2010 Tax Return

The original due date for 2016 tax returns was April 18, 2017, but you can still file a late tax return.

When should I file a late tax return?

Now. The longer you wait, the more penalties and interest will accrue. If you’re owed a refund, you can actually lose your tax refund to the government after 3 years.  No one wants that to happen. If you expect a refund from your tax return, we can help you get your return filed as soon as possible. Don’t worry, we’ll help you file your taxes to avoid either problem.  We have helped many individuals and businesses catch up on many years of late tax returns.

Where do I file?

Sometimes, late tax returns can be filed electronically.  Unfortunately, the last day to electronically file your 2016 taxes was November 18, 2017.  However, you can always paper file your tax return by calling us at (208) 227-8335. We’ll give you the best address for filing your late tax returns.

I've lost my income and tax records

Losing financial records is the #1 reason our clients don’t file their taxes on time.  Don’t let this set you back. Using an IRS Power of Attorney, we can get many of your tax documents and information directly from the IRS.  Using bank and credit card statements, we can also recreate your books and build a reliable record of your financials. We can then use this information to prepare and file your return.

Filing History

Looking at your complete tax filing history gives us a full knowledge of the tax problems and opportunities. This allows us to not only prepare and submit your return but also to see the big picture and advise you in the best way possible. Depending on your circumstances, we may be able to get certain penalties lowered or even waived.

Penalties for Unfiled Tax Returns

If you have a failure to file penalty, the IRS will add a percentage of your taxes owed to your total tax bill.  Usually, the IRS imposes 5% of the unpaid tax amount that you owe each month up to a maximum of 25%. If you file your return more than 60 days after the due date or extended due date, the minimum penalty for late filing is the smaller of $135 or 100% of the unpaid tax.

If you owe any taxes once you file your tax return, you will usually have a failure to pay penalty.  With a failure to pay penalty, the IRS will add on between .5% of the unpaid tax amount you owe each month up to a maximum penalty of 25%. If the failure-to-file penalty and the failure-to-pay penalty both apply in any month, the maximum amount charged for those two penalties that month is 5 percent. Sometimes, the IRS will reduce or abate your tax penalties.  Special rules apply for IRS penalty relief. Talk with us about penalty relief, and we’ll determine whether you have a good case for penalty reduction.

What if I can’t pay my current taxes?

If you can afford to pay some of your tax balance, pay it. Late payment penalties are calculated based on the balance owed, not the full amount. If you haven’t filed because you don’t have the money to pay your taxes, please call us. You can file your taxes without actually paying anything. By filing, you can at least minimize the failure to file penalties.  

If you owe any money, we’ll work with the IRS and your state tax authority to create a payment plan that works for your budget.  Sometimes, you may even qualify for a program that allows you to settle your total tax debts for less than the full amount.


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