http://www.SodowskyLaw.com Sometimes people fall on hard times and don’t have the money to pay their income taxes. As a result, they may fail to file their tax returns, hoping the IRS won’t notice. Find out here in this video what can happen when you don’t file tax returns for several years.
If you haven’t filed your federal income tax returns for the past few years, you may be wondering what will happen to you. It may surprise you to learn that the IRS will put together a return for you if you have unfiled tax returns. Because they receive copies of your W-2, or Form 1099 if you are self-employed, as well as your Form 1099-B and mortgage statements, the IRS will take all of this into account and develop a substitute tax return for you. When they do this, your deductions won’t be taken into account. This is why you should file your tax returns on time, so that the IRS doesn’t file one for you.
For help filing your tax returns in Virginia and to protect your interests when dealing with back taxes, you should seek professional tax help. Contact the Sodowsky Law Firm in Fairfax at 703.476.1176.