Late Tax Payment – Late Filed Tax Return

Filing a past due return may not be as difficult as you think. Los Angeles, California taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Same is true for California tax returns.

Whether paying taxes with a timely filed tax return, or filing late and paying taxes late after receiving a bill from the IRS (and the bill is correct), LA’s taxpayers are encouraged to pay the taxes they owe in full.

Prevent the IRS from levying bank accounts, wages, or other income, or taking other assets. Prevent the IRS from filing a Notice of Federal Tax Lien that may have a detrimental effect on your credit standing.

If you don’t file your tax return, the IRS will file a substitute return for you, which will not include any additional exemptions or expenses you may be entitled to and may overstate your real tax liability. Once the tax is assessed the IRS will start the collection process, which can include placing a levy on wages or bank accounts or filing a federal tax lien against your property.

Call a tax professional – call attorney Mitchell A. Port.