It goes without saying that filing your federal and state income tax returns on time is extremely important to maintaining your financial health. This helps avoid the insecurity, stress, and financial hardship that is often associated with IRS/State debt problems.
Contrary to popular belief, not filing your tax returns does not help you avoid problems or tax liability. In fact, by not paying your taxes you’re creating a bigger problem for yourself. Even if you ignore the notices you receive, the IRS/State will prepare a Substitute for Return (SFR) for you. By creating the SFR, the IRS/State will use income that has been previously reported. They will also assume you are single, have no dependents, and use the standard deduction (thereby eliminating many possible tax savings you would get from itemized deductions, dependents, tax-deductible expenses, etc.).
This often results in you still owing taxes to the IRS, even though you didn’t actually file a tax return. In addition, the IRS will begin tacking on hefty penalties as a result of your failure to file your returns on time. In conclusion, your tax problems will only get worse if left unresolved.
At Tax Group Center we work with hundreds of taxpayers every year who are suffering from back tax problems. We know the best way to prevent these kinds of problems from occurring is to have your tax returns – both personal and business returns – prepared and filed on time. That’s why we offer clients ongoing tax preparation services.
Whether you are currently behind on your taxes or you simply need the help of tax professionals, the Tax Group Center can help you.
Tax Preparation Services Include:
- Form 1040, 1040A, 1040EZ, 1040EZ-T, 1040NR and 1040NR-EZ, 1040X,
- Schedules A, B, C, D, E, F, H, J, M, R, SE
- Sole Proprietorships: Form 1040, Schedule C, Schedule C-EZ, 1040-ES, 941, 943, 944, W-2, W-3, 940
- Partnerships: Form 1065, 941, 943, 940
- Corporations: 1120, 1120-W, 8109-B, 941, 943, 940, 8109-B
- S-Corporations: 1120S, 1120S Sch. K-1, 1220-W, 941, 943, 940, 8109, 1040, 1040-ES