File Back Taxes
What Are Back Taxes?
Back taxes refer to an outstanding tax liability on a federal or state level from a previous year. As most tax filers know, federal income taxes are due each year on April 15 for the previous taxable period.
However, if you don’t file your taxes in that year or fail to pay the taxes owed, there can be serious repercussions with the IRS. Fortunately, we’re here to take the lead and guide you through the back tax-filing process every step of the way.
How to File Back Taxes in Texas
Whether you live in Texas or any other part of the United States, you might be curious about how you would file back taxes if you failed to file the year before. The process is actually much similar to filing your tax return if you were on time, but you must file a past-due return.
Whether you’re filing your back taxes yourself or getting help from tax experts like AmeriTax, you’ll need your financial documents and tax forms. Our tax preparation team can assist if you’re unsure which documents you’ll need.
At a minimum, you’ll need the same information you’d provide for a standard tax return, including any 1099s and W-2s that might have been received when your back taxes were due. If you want to claim tax credits or deductions, you’ll also need to provide any relevant receipts to claim.
Can You E-File a Past-Due Return?
The IRS tries its best to make the tax return process seamless and stress-free, but the same can’t always be said for past-due returns. Unlike a regular tax return in which you can e-file, you can’t do the same for back taxes. You’ll need to send your late return and any required payments to the mailing address written on the IRS late notice you received or the one published on your Form 1040.
Do I Have to File Back Taxes?
You might assume that the IRS will just forgive you and forget about your filing faux pas – but they won’t. There can be severe repercussions for not filing or paying your tax bill, including:
- A failure-to-file penalty – 5% of the unpaid amount and 5% every month up to five months and a maximum of 25%
- Additional late-filing penalties for returns filed more than 60 days after the due date
- Failure-to-pay penalty – 0.5% penalty for each month of late payment and a maximum penalty of up to 25%
- Interest accruing until your tax bill is paid in full
- No refunds for past-due taxpayers
- No credits toward Social Security benefits for self-employed income
- Forced collections through a levy on your bank account or paycheck
- Forced collection through a federal tax lien on your property
- Enforcement penalties or criminal charges
Why wait until you face harsh IRS consequences? Contact AmeriTax and get on top of filing your back taxes today.
Why Use AmeriTax to File Your Back Taxes?
Taxes can be daunting, especially if you’re a late filer or late payer. Contact AmeriTax to get help. Our expert team has more than two decades in the tax industry and provides a wide range of services, including:
- Tax preparation and consultation
- ITIN
- IRS audit assistance
- Filing back taxes
- Filing tax extensions
- Fast tax refunds
- And more…
File Back Taxes With AmeriTax Today
Don’t let the upcoming tax season stress you out. AmeriTax is here to help year-round. Whether you’re filing for the first time or want to make tax filing a more manageable process, contact us today for your free consultation. AmeriTax is proud to be one of the most trusted tax services in North Texas, and we can’t wait to assist with all your tax needs.
