6 Steps to Get Back on Track with Your Taxes

TWL_2015_feb_blog19Unless you’re expecting to receive a refund, it is difficult to get excited about filing your taxes. Nonetheless, it is the law and failing to file can lead to stiff penalties–even jail time. If you’re one of millions of Americans who have missed filing a tax return, you do not have to wait for the IRS to come knocking on your door to get back on track. There are six simple steps you can take now to help you gain control of the situation. One of the first steps is to file all missing returns as soon as possible. If you are several years behind, you may be surprised to find that you were actually owed a refund in certain years that can offset any taxes and penalties that you may have owed. On the other hand, if you find that you owe a large tax debt, you may be able to settle for less than you owe or set up a payment arrangement. Speaking with a knowledgeable tax attorney about your situation can help you figure out your options for getting your tax problems resolved as quickly as possible.

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Image Source: James Morris