April 15 is generally the date that taxes are due for your individual tax return. If you are owed a refund, you may file up to 3 years from the current tax year. Taxpayers who don’t file a past due return or contact the IRS are subject to the following actions.
Penalties and Interest will be assessed and will increase the amount of tax due.
The IRS will file a substitute return for you. But this return is based only on information the IRS has from other sources. Thus, if the IRS prepares this substitute return, it will not include exemptions or expenses you may be entitled to and may overstate your real tax liability.
Once the tax is assessed the IRS will start the collection process, which can include placing a levy on wages or bank accounts or filing a federal tax lien against your property.
Upon the IRS receiving your back tax return, they will generally adjust your account to reflect the correct figures. Even if there are taxes owed and not filed on time, we can help you understand your options and possibly get some penalties removed. Take action now with our help before the IRS or Franchise Tax Board takes action against your wages or assets. We also handle cases of your back tax problems with the Board of Equalization.