Unfiled Tax Returns
Also known as that pile of paper on your desk.
The government frowns upon unfiled tax returns, and failing to file a tax return can lead to exorbitant penalties. Even if a you are unable to pay a tax liability, the tax return should be filed on time, or as soon as possible. Filing your taxes helps minimize penalties associated with unfiled returns.
Substitute returns
Failure to file a return could result in the taxing authority filing a substitute return, which often substantially inflates the taxes owed. Some states recognize substitute returns as final, and after a period of time do not allow taxpayers to file replacement returns with more accurate figures. This can result in the taxpayer being liable for more money than is actually owed.
To resolve your tax problems, please contact Larson Financial today.

