Filing Unfiled Tax Returns with The Law Offices of Nick Nemeth
  • May 7, 2019
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Filing your taxes on time is essential to avoid coming under the lens of the IRS. If you have failed to file taxes, say 5, 10, 15 years or longer, you are sitting on a huge tax debt and must address the issue by filing unfiled tax returns. While you can always find experienced tax attorneys at the Law Offices of Nick Nemeth to help you out in cases of unfiled tax returns, it is wise to understand the law for a better understanding of your current situation. To help clear some misunderstandings, we present to you an overview of the law on unfiled tax returns. Read on.

Consequences of Unfiled Tax Returns

Every year, the IRS requires you to submit your tax returns and failing to do so is a serious offense. There is a small yet a real possibility of having criminal charges filed against you for failing to file your taxes. If you evade filing and paying taxes despite being aware of your tax obligation, you can be held guilty of tax evasion—a serious criminal offense punishable by law. The other issue with failing to file tax returns is that the IRS will file those returns on your behalf. When that happens, you will be liable to pay a lot more than what you would originally have to pay. But there’s good news. If you get up-to-date with your old returns, the IRS has a policy that requires you to pay only for the past 6 years or a little further.

Penalties of Unfiled Tax Returns

You are required to pay an IRS ‘failure to file penalty’ that stands at 5% of the amount due on your unpaid taxes for each month or few months together where your taxes remain unfiled. On top of this, you are also liable to pay the ‘failure to pay penalty’ that stands at 0.5% per month of unpaid taxes and a minimum fine of at least $135 is levied. If you keep these penalties and calculate the tax debt keeping all the years of unfiled tax in mind, it piles up to be an enormous sum of amount you now owe to the IRS. The IRS can take as long as it wants to come after you and prosecute for unfiled returns. According to the IRS statute of limitations, the government has up to ten years to collect the debt on unfiled tax returns. Once you start repaying your unfiled returns from the past, you activate the statute of limitations and buy yourself enough time to pay back the tax debt and avoid charges.

Resolving Unfiled Taxes

Taxpayers can opt to settle all their unfiled tax returns with the help of the IRS Amnesty Unfiled Return Programs. As mentioned, when you calculate all your unfiled tax returns from the past, there may be a huge mountain of tax debt you might be sitting on. In such cases, the IRS gives you a number of options such as an Installment Plan, which depends on your eligibility to pay your tax debt. Another provision is an Offer in Compromise, wherein the IRS allows you to settle the outstanding debt from all the unfiled tax returns at an amount lower than what you actually owe. There are various other provisions through which you can bail yourself out of the problem.

If you do not have your previous year’s records or have lost them in an accident, forms such as the W-2s, 1099s, K-1s and so on are there for your rescue. You can reference your bank records and an IRS report known as the W&I Transcript is also helpful when you don’t have access to your previous records. If you have unfiled returns including foreign accounts, the IRS has created several disclosure programs to help you settle such matters.

Must Read : Need Help with Filing Unfiled Tax Returns? Read This Now

Wrap Up

If you have years of unfiled tax returns piling up, it’s highly advisable to to file as soon as possible to avoid heavy penalties, levies, and possible jail time. Filing returns on unpaid taxes and negotiating with the IRS agents, however, can be a confusing and a daunting task. That is when you need a trusted IRS tax attorney such as the Law Offices of Nick Nemeth. If you have unfiled tax returns, do not wait anymore. Reach out to us by filling our contact form or simply call (972) 426-2553.

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Brent VahleBrent Vahle
19:13 02 May 24
I called to see if they could help reduce some penalties and fees. The person I spoke with told me it might be counterproductive for them to take my case since their feels would likely equal the amount of penalty/interest abatement. I decided to pass on moving forward but was so happy to hear a legal team, or any business for that matter, who has that much integrity. I feel most others would likely try to take my money anyway. I hope I never have to go through this again, but if I do, I will definitely use the Law Offices of Nick Nemeth!
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Very professional and very knowledgeable, Jamie Flores was very straight forward and professional, a firm that doesn’t just take your money, Thanks
Carla AtwalCarla Atwal
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Nick was wonderful in guiding me with direction on some tax questions I had. He was concise, and to the point, and was happy to provide general info to me at no charge. I truly appreciate him and would highly recommend him.
Miguel AlvaradoMiguel Alvarado
15:56 25 Mar 24
By far the best attorneys I have ever worked with. They’re are very helpful and supportive from day one. They went above and beyond to make sure all my documents were submitted on time and gave updates as soon as they received them. I cannot name a single flaw in their work. Their team of assistants are very professional and seem to all be on the same page. I’ve made multiple phone calls and sent a ton of emails to their staff and they were able to help me all through the course of the case. I cannot express my gratitude enough for how excellent they handled my case.
Lucy FoyLucy Foy
06:55 19 Jan 24
My first appointment I had with, Tax Attorney Nick Nemeth, gave me such a sense of relief. He listened and gave me his professional advice, Mr Nemeth took my case. I was well kept updated, by phone calls and letters. That really impressed me and gave me so much confidence in them. The case went on for a couple of months. The day I received the call from one of his team members Kyle, informing me that the case was resolved and that I owed absolutely nothing to the IRS, I was overwhelmed with joy. I would recommend this law firm to anyone that needs help, with any tax issue. Thank you, to the Law Firm of Attorney Nick Nemeth and his team.
Bradley RunyonBradley Runyon
20:17 13 Jan 24
I received a tax bill in the mail from the IRS last year in 2023. The fees and penalties I owed were something I myself could not afford. I reached out to Nick Nemeth's firm and received the best experience you could imagine. The team was professional, educational, and fast. If you have a tax issue with the IRS using another firm other than Nick Nemeth's would be an error in judgment. I would recommend their services above others.
Sue HulsemanSue Hulseman
19:55 11 Jan 24
Working with Nick Nemeth and his team to resolve my debt with the IRS was the best decision I could have made. I felt such relief knowing I didn’t have to deal with the IRS myself. They did a wonderful job and were responsive to my questions and kept me abreast of my case. My outcome was exactly what I was hoping for. I strongly recommend using them if you have an issue to resolve with the IRS.
20:53 21 Dec 23
I had an incompetent tax preparer, who also ignored several notices from the IRS, which in the end resulted in a lien on my property. I did not know what to do and an attorney friend recommended that I contact the Nick Nemeth Law Offices. I met with Jamie Flores and Ivan Nalbantov in December 2021 for a free consultation, and right away was impressed by their thorough examination of my paperwork and extensive knowledge of IRS tax laws. I felt not pressured and appreciated their advice and in the end decided that I would pursue resolving the issue by myself. I paid the IRS Civil Penalty and, as recommended also submitted a letter to the IRS requesting a refund and explaining what happened. I am glad to report that my persistence finally paid off. My case took two years to resolve and I finally received a full abatement/refund check from the IRS in December 2023. I could not have done this without the straightforward recommendation of Jamie and Ivan; and I highly recommend the Nick Nemeth Law Offices to anyone needing help with the IRS.
Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
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I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
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I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
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During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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