7 Reasons You Should Seek Professional Help When Filing Back Taxes

Published On:

Last Updated On:

Don't Let Your Finances Suffer

Your finances will suffer if you don’t get your back taxes under control. Filing back taxes will help you catch up and makes sure that you can move forward and avoid the ire of the Internal Revenue Service (IRS). Hiring a professional is key to handling your back taxes.  Consider the tips below so you can see why getting tax help is a must. 

1. Your Taxes Will Be Done Promptly and Error-Free

Timeliness is everything when it comes to handling your taxes. They’re due on April 15 as long as it’s a business day, and whenever you pay late, you’ll be subject to penalties. If you’ve been given an extension, your tax professional will help you handle your back taxes in time for your new deadline. Filing your back taxes with errors will only draw more IRS attention, and will prolong the process of setting them straight. Getting the help of professionals ensures that your taxes are accurate and on time. 

Do It Right The First Time

Filing for back taxes accurately is crucial. Careless errors could mean missing out on thousands. Talk to a tax professional today.

2. It'll Help You Avoid Audits and Investigations

You may be subject to audits and investigations when filing your back taxes. Your lawyer can let you know if you are susceptible to an audit, and can take proper precautions when handling your tax filing.  For instance, about 13 percent of people earning between $50,000 and $75,000 get audited. These percentages go up or down depending on your pay scale and demographic.  Protecting yourself from IRS audits will help your finances and your stress levels. Having the help of a tax professional can help you out with any sort of audit that you’re facing, and will allow you to show proof and craft a defense. 

3. Professionals Can Help Defend You Against Tax Evasion Charges

Things can get worse than a slap on the wrist if your taxes are late. Some people may get tax evasion charges filed against them, which can potentially mean having a felony on your record. 

With tax evasion charges, you will definitely need the assistance of a tax attorney that can help you. 

If you have drawn suspicion to your offshore bank account, claims of a falsified tax return, or discrepancies in the income you reported, you’ll need the assistance of tax professionals. Getting a conviction can be damaging to your record and your financial life. 

4. They Can Help You Stop the Bleeding With Fines and Interest

The longer you go without paying your taxes, the more taxes you’ll end up paying. 

You’ll get slapped with late fines, in addition to ongoing interest. When you have the assistance of a tax professional, you’ll be able to nip these costs in the bud and keep them under control. A professional can help negotiate fees away too.

It is especially important to get these matters under control because you usually can’t discharge all your taxes by filing for bankruptcy. Since you don’t have bankruptcy as a safety net, you should get it under control before the situation reaches that point. 

5. You’ll Be Able to Protect Your Passport

When you owe $52,000 or more, the IRS can take further steps toward penalizing you for a late return — including suspending your passport. 

You’ll usually have to respond to the IRS a few times before action is taken. For instance, you’ll need to respond to a 30-Day Letter from the IRS, in which you can stake your case why you feel that you should keep your passport. 

In the meantime, be sure that you reach out to a tax professional that can guide you. 

Getting your tax debt under control can protect your passport, which is important if you travel a lot. Since you’re defending yourself against this decision, you’ll need an attorney that can file an appeal for you. 

You may have to go to tax court if the IRS still wants to suspend your passport, and your lawyer will make sure that you receive due process. 

6. These Attorneys Can Protect Your Credit and Help You Catch Up on Your Finances

When you have back taxes, you’re always teetering on having your credit and finances destroyed. By reaching out to a professional, you can minimize the damage done and protect your finances. 

Having this counsel decreases the amount of time it’ll take to rebuild from the damage. Otherwise, the IRS may issue a tax lien, which can be incredibly damaging to your credit for years to come. 

7. You Can Get an Installment Plan or Tax Forgiveness

The IRS offers a number of payment plans that you can take advantage of, as well. 

A tax professional can also assist you in getting tax forgiveness, more time, or a payment plan to sort things out. They can help you to file an application that is accurate, and negotiate a payment plan that suits your finances. 

When you apply for one of these programs, you will have a timetable for paying it back, in addition to a monthly payment that is affordable to you. Since your attorneys understand these programs, they can increase your chances for approval. 

This could mean getting an Offer in Compromise (OIC), which can help you avoid further penalties, such as actions like a wage garnishment or a tax levy.

Get Professional Help When Filing Back Taxes

Hiring a professional is a must when you need help filing back taxes. They will assist you so that you can manage your tax bill without it becoming more of a burden. 

You’ll get the best professional tax help when you reach out to us for more information. 

Share The Knowledge! 😊

Share on email
Email
Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on facebook
Facebook

Ready to secure your financial future? Subscribe Today For Tax Knowledge Tomorrow

JOIN 2,000+ OTHERS. YES, IT’S COMPLETELY FREE. ZERO SPAM, UNSUBSCRIBE AT ANY TIME.

IRS tax attorneys

We're Here For You.

Let’s end your IRS tax problems. Fill out the form below and we’ll provide you with a free consultation.

How Can we help?

Don’t worry, our consultations are 100% Confidential & 100% Free