Unfiled Tax Returns
Failing to file tax returns can create serious problems. If you fail to file your tax returns, the IRS can do it for you. If you don’t respond to the notices sent by the IRS or state tax agency asking for delinquent tax returns, the IRS or the state have authority to prepare the substitutes for returns for you. Usually, they would base it on the information received from third parties, but often will omit the deductions to which you may be entitled. As a result, you are likely to incur a significant tax liability, including penalties and interest.
In more egregious cases, the taxpayers may face criminal prosecution for willful failure to file their tax returns. In these instances, you may face not only significant taxes and penalties, but imprisonment.
If you have unfilled returns, or received a notice from the IRS or a state tax agency asking for unfilled returns, you may need assistance from experienced tax attorneys who will protect your rights and represent your interests.
Holtz, Slavett & Drabkin, APLC
Former IRS Tax Attorneys
315 S. Beverly Drive
Beverly Hills, CA 90212