Late Tax Return Filing

Are your late tax returns causing serious financial hardship?

Are you ready to get your non-filed tax returns in order? Even if you haven’t filed back taxes in years, I can still help you! You may think your situation is hopeless, but do not give up. There could be plenty of solutions still available to you if you choose to enlist my help, El Cid Bookkeeping, Inc. Accountancy and Taxation.

Penalties for Late Filing

April 15th is the annual tax filing date for Americans to file their federal income tax return forms or pay any taxes that they may owe. Filing a federal tax income return late or failing to pay a tax return on a timely basis could result in serious consequences.

According to the Internal Revenue Service (IRS) tax law, penalties for filing or paying late could include:

  • Penalty fees for failure to file or pay – penalties for failure to file are generally more costly than penalties for failure to pay
  • The penalty for filing late is typically 5% of the unpaid taxes for each month that a return is late
  • Penalties begin to accrue the day after a tax return file is due
  • If you do not pay your taxes by April 15th, you will face a failure-to-pay penalty at 0.5% of your unpaid taxes
  • If you file your return more than 60 days after the due date, the minimum penalty could either be $135 or 100% of the unpaid tax, whichever is smaller

If you feel as though you will be late on filing or paying for your tax return, it is wise that you consult with a certified public accountant. A CPA can help notify the IRS if you need an extension of time to file or pay your tax return. Instead of paying penalties, it is much more economical and safer for your finances to ask for help.

Honest & Trustworthy Services

At El Cid Bookkeeping, Inc. Accountancy and Taxation, I believe that even the most complicated tax return problems can be straightened out. I understand that accidents happen and that the unexpected could shake even the most financially stable taxpayer. If you are experiencing financial hardship or strain, I highly encourage you to enlist the help of a El Cid before your tax problems slip out of control.

Even individuals who feel as though they are facing the impossible can benefit greatly by coming to El Cid Bookkeeping, Inc. Accountancy and Taxation office. My job is not to judge how you got into your current financial situation. My job is to help provide honest and trustworthy tax services that can give you present tax relief and future financial freedom. I can help you quickly locate the necessary missing information needed to properly file any back taxes owed while effectively helping you apply for tax deductions that can greatly reduce your tax responsibility. I can be trusted to file your past returns with the IRS, which can square your debts away with the IRS once and for all! For more information on late tax return filing click here.