Bob Jablonsky & Associates Blog

Plano TX – Unfiled Tax Returns? The IRS May Be Coming for a Visit Soon!

by | Feb 23, 2020

In an article I wrote a few weeks ago, we discussed why 2020 might be a good time to settle your tax debt. In that article, we discussed how the IRS had a reduction of resources over the past 10 years and how the tide had started to turn. The IRS was now seeing some increase allotted by Congress and had several initiatives to crack down on taxpayers with debt. As part of this crack down, the IRS intended to address the estimated 7 million non-filers that they’ve identified.

In the News

It’s been in the news that the IRS has begun contacting taxpayers. For now, they’re focused on higher income taxpayers, those with income exceeding $100,000 in a given year.   The IRS has estimated that they will make 800 visits in the first two months of this new outreach, and they are planning to visit thousands more during the year. In addition, they plan to contact taxpayers through other means to get the attention of non-filers.

What Does This Mean To You?

You may want to get a heads up on getting your returns filed and effectively dealing with your tax debt. In addition to the potential embarrassment of getting an IRS visit, you have much more flexibility in dealing with any tax debt if you are acting proactively. You have more time to file the return maximizing any deductions and finding the best solution to any tax debt. Remember that when taxpayers do not voluntarily file their returns, the IRS is authorized to file a Substitute for Return (SFR) to assess the tax and enter them into the collection queue. However, SFRs are filed using the wort filing status available to the taxpayer with minimal deductions and it typically to the benefit of a taxpayer to file their return voluntarily.

What If You Owe Past Due Tax?

By addressing the issue proactively, a Taxpayer has an opportunity to plan the best option available to address their tax debt. These options include:

To enter into collection alternatives, you must be tax compliant and get your returns filed.

Do you Need Help?

If you need to get caught up and want to deal proactively with your tax debtplease contact me at (972) 821-1991 or at bob@jablonskyandassocates.com.

 

Bob Jablonsky is the founder of Bob Jablonsky & Associates. He has spent his career helping taxpayers resolve tax issues and get back on track with the IRS. In addition to tax resolution his firm also prepares hundreds of tax returns every year for both individuals and small to mid-sized businesses.

Bob is an IRS Enrolled Agent (EA), which is an elite credential issued by the Internal Revenue Service to professionals who demonstrate special competence in federal tax planning, individual and business tax return preparation, and representation matters. An Enrolled Agent license is the highest credential awarded by the IRS and is recognized across all 50 states. Additionally he is a CMA, or Certified Management Accountant, a designation for financial controllers and CFOs (Chief Financial Officers), as well as an Advanced Certified Quickbooks Pro Advisor.

Get in touch

1900 Jay Ell Drive
Richardson, TX 75081

Bob@jablonskyandassociates.com

(972) 821-1991

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