Unfiled Return Completion

The IRS Would Love to Take Care of Your Unfiled Tax Returns For You…
Does This Sound Like a Good Plan?

Tax interest and penalties add up lightning fast. If you didn’t file a tax return because you didn’t have the money to pay what was owed, or you filed but simply didn’t pay, you’ve gotten yourself into quite a predicament. And the more you let this situation go, the more likely you are going to pay for it and pay for it big.

NOT filing your tax returns is a criminal offense.

Punishment for not filing tax returns can be as severe as one year jail time for every year your taxes go unfiled. Don’t think you can continue to get away with it. As the computer system at the IRS gets more complex and sophisticated, the chances of you getting flagged and caught increase exponentially.

But here’s what you can do…

First, let us help you comply with the law. By taking the initiative and filing your tax returns, you can still take advantage of the deductions and allowances due to you. Yes, you are still going to owe taxes, and likely penalties and interest, as well, but if you wait for the IRS to take care of your problem for you, they are going to do so in the best interest of the government with little thought or interest in your bottom line.

By voluntarily filing all delinquent returns, you will save yourself further problems, and we can help you do that.

Once your returns are current, we can look at your total owed and help you create a plan of action to remedy the situation.

Retirement Plans for Small Businesses (Q&A)

There are several retirement plans for small businesses, ranging from one to many employees. At Wave Tax, we offer a variety of options to help you determine the most suitable plans for you and your business. Let’s explore these choices. • Individual 401(k) Plan:...

What Actions Should You Avoid to Minimize the Risk of an IRS Audit? 

The IRS is currently developing strategies to reduce the likelihood of increased audits for taxpayers earning below $400,000. However, specific elements on a tax return can still attract attention, regardless of income.  A recent report from the Treasury Inspector...

Living Abroad? This is Essential Information Regarding Taxes

Residing or retiring outside the United States does not exempt you from filing U.S. taxes. 📌 Here are some important aspects of tax responsibilities to consider: The United States is one of only two nations globally that imposes taxes on the worldwide income of its...

Recommendations for Preventing an IRS Audit

The IRS is striving to limit the number of audits for taxpayers with incomes below $400,000; however, specific aspects of their tax returns may still attract attention, irrespective of their income level. The Treasury Inspector General for Tax Administration (TIGTA)...

The Available Options if You are Unable to Pay your Taxes

The deadline for filing taxes in 2023 was April 15, 2024. While many Americans received refunds, the percentage of individuals who owe the Internal Revenue Services (IRS) has steadily increased over the years, rising from approximately 39% in 2021 to 43% in 2023,...

Tax Filing Deadlines and Key Dates for 2024

If you are a U.S. citizen, have interests in the U.S., operate a foreign business entity, or are a U.S. citizen residing in Canada, it is crucial to be informed about the significant dates and deadlines related to income tax filing obligations. At Wave Tax, we...

The Deadline for Tax Extensions is Approaching: Tax Returns by Income Categories for 2024

The tax season officially concluded on April 15, and the six-month extension deadline is now nearing in October. As of May 23, a total of 132,270,182 income tax returns have been submitted to the Internal Revenue Service. 📌 Data from the Internal Revenue Service (IRS)...

Recommendations for Maximizing Tax Deductions for Owners of Energy-Efficient Commercial Properties

Despite the prevailing concerns regarding the energy efficience and commercial real estate market, it is projected that two-thirds of the global floor space currently in existence will still be operational by 2040. The International Energy Agency (IEA) reports that...

Major Corporations Experience Significant Advantage in Tax Disputes 

Recent limitations set by the Supreme Court on the regulatory authority of federal agencies are influencing the tax landscape, potentially shifting certain legal battles in favor of large corporations rather than the government.  In at least five ongoing tax cases,...

Considerations to Keep in Mind in the Cannabis Business

One of the points to take into account, especially for those involved in the business, is what they call “Cannabis Rescheduling”, which means that it has the possibility of becoming a Schedule III controlled substance as opposed to the current and stricter Schedule I,...

Ready to come in for an appointment?

Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

Contact Us