Abuse, health crises, unemployment, divorce, and other life challenges may result in financial disarray, which often includes unfiled tax returns. Simply put, unfiled tax returns are a serious issue. In fact, failure to file a tax return may be considered a crime. As the situation remains unresolved, many individuals choose to do nothing, not knowing where to begin. While unforeseen circumstances may arise, it is crucial that these returns are filed as soon as possible. Not only will the IRS pursue you, but the agency may also use its limited information to create a substitute tax return, also known as a Substittute for Return (SFR). This substitute document does not consider available tax advantages, often resulting in taxpayers owing the government money. Additionally, if you are owed any tax refunds, you may forfeit your right to a refund if you fail to file within the statutory period. For these reasons, unfiled tax returns require immediate attention. At Nyar Tax, we view our clients as more than just balance sheets and tax debts. We value engaging client relationships and providing individualized attention to devise comprehensive plans for unique tax circumstances.
- You are more than a set of numbers. Contact Nyar Tax for professional assistance with unfiled returns.