Non-Filers: Consequences and Strategies to Resolve Tax Issues

Tax Debt Consultant Podcast

On this episode of Carlos Samaniego- Tax Debt Consultant, we discuss the importance of filing tax returns for the last six years. Not filing tax returns for longer than six years can result in penalties, interest, and back taxes with serious consequences.

We also hear about a young man in his forties who sought consultation after not filing his taxes for ten years.

We talk about non-filers and the specific IRS regulation that applies to them. Specialized professionals who deal with unfiled returns should be consulted as a complete investigation of the situation is crucial to determining the appropriate action to take.

We hear about the biggest case the speaker had dealt with, someone who had not filed tax returns for 20 years, and the reasons for not filing taxes can vary widely. The transcript talks about strategies for replacing liabilities with actual liabilities for non-filers.

We also mention the Fresh Start program as a strategy for those considering an Offer in Compromise.

The speaker offers a free consultation for non-filers to help them get their life in order and get back into compliance with the IRS. To learn more about tax debt, tune in to Carlos Samaniego- Tax Debt Consultant.

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Book an Appointment: CallTaxEA.com [00:00:13] The text discusses what IRS non filers are and why people become non filers.

[00:01:26] Failed to file taxes for eight years due to big tax bills not being paid.

[00:02:01] Not filing taxes can lead to prison time; divorce, lack of knowledge, or fear can cause people to not file.

[00:03:21] Not filing taxes can lead to jail time, as demonstrated by Wesley Snipes.

[00:03:34] IRS mandates filing tax returns for all.

[00:04:01] Six years of tax returns can reduce IRS penalties and back taxes.

[00:04:28] Compliance means filing tax returns on time. Non-filers must file to avoid consequences even if they haven't filed in years.

[00:05:08] Man went 10 years without filing taxes, sought consultation, returned a year later.

[00:05:44] Person needs tax help, hasn't filed in 10 years, investigator can gather IRS info on income and debt. Person didn't prepare taxes, went to H&R Block.

[00:06:35] Unfiled tax returns found without substitutes by the IRS.