Filing of past returns reduce your tax debt.
You should call Guccione to file and amend your tax returns as soon as possible because unfiled tax returns have four negative consequences:
1) The IRS is allowed to file a “Substitute Filed Return” (SFR) for you. This SFR will not include any expenses and itemized deduction. The IRS has a blank check to inflate your taxable income!
2) The IRS will add a huge amount of interest and penalties which will double your taxes owed every four or five years. The longer you wait the higher the interest and penalties.
3) The IRS will not negotiate a payment plan or any type of settlement until all returns have been filed. We cannot resolve your tax problems until we have amended all tax returns and decrease the tax owed on each of them to the minimum amount.
4) Although in most cases the IRS has not recommended criminal prosecution, not filing tax returns is a crime!
Contrary to the general belief, you have the right to file your original return, regardless of how old these returns are. Amending previously filed returns, whether filed by you or the IRS, is the preferred way to start the Tax Settlement process. Regardless of your ability to pay, every taxpayer has the opportunity to present a new version of the previously filed returns. By adjusting business expenses, mileage, loss carried backward and forward, additional itemized deductions and additional dependents, Guccione Tax Relief has been able to reduce taxes by 40% to 100% in most cases.
Our Tax Attorney, CPA and Enrolled Agent will systematically do a Collection Statute Expiration Date (CSED) analysis to see if your oldest tax has been assessed more than 10 years ago. The IRS is prohibited by law from collecting on taxes when the Statute of Limitations on IRS collections has been reached. This analysis is complex and involves an in depth review of filing date, amendment date and audit date.
3 Simple steps to tax relief.