Back Taxes Attorney in Ft. Lauderdale, Florida 

According to statistics from the 2021 Internal Revenue Service Data Book, over 8.4 million Americans owed more than $133 billion in back taxes, interest, and penalties to the IRS in 2021. U.S. residents, employees, and businesses across the country are expected to report their total income and file taxes with the Internal Revenue Service (IRS) annually. However, some individuals often fail to perform their tax obligations due to various reasons. 

Unfortunately, you could be subject to IRS-imposed interests and penalties if you fail to file your back taxes. Likewise, you may lose your refund, be denied government assistance, or face possible criminal charges. Therefore, if you need assistance filing your back taxes or resolving taxes from prior years, speaking with a Florida tax law attorney is imperative. 

At Zuckerman Law, LLC, I enjoy giving reliable legal direction and trusted advocacy to individuals, families, and businesses in tax-related situations. I can analyze your specific situation and explore your available legal option to file your past-due taxes. Even if you’re owing the tax authorities more than you can pay, I can enlighten you about the different options to resolve your tax debts and achieve relief. 

My firm – Zuckerman Law, LLC – proudly serves clients across Fort Lauderdale, Florida, and South Florida, including Miami, Hollywood, Boca Raton, and North Miami Beach. 

The Significance of Filing Back Taxes  

If you live, work, and earn in the United States, you’re expected to file your income tax returns every year. However, a lot of taxpayers continue to fall behind on their taxes as a result of insufficient funds, failure to file, late filing, errors in tax calculations, under-withholding, financial issues, or other complications. Nevertheless, you should still file your back taxes for the following reasons: 

• To avoid or mitigate the accumulation of interest charges and late payment penalties. 

• To protect your eligibility for social security retirement benefits, disability benefits, and other forms of government assistance. 

• To keep your eligibility for tax refunds. You are only allowed to claim tax refunds within three years. 

• To protect your credit score. 

• To avoid loan denials or prevent potential delays or other issues when applying for loans. 

A knowledgeable Florida back taxes attorney has the resources to walk you through the benefits of filing your past-due taxes as well as the penalties, interests, and consequences for defaulting. 

Penalties and Interest  

However, if you default or fail to file your back taxes, you may be subject to any of these penalties: 

• The IRS may place liens on your property. 

• The IRS may garnish your wage or levy your financial accounts. 

• The IRS may seize your assets and property. 

• The IRS will charge you a failure-to-pay penalty. 

In addition, you will be unable to claim your tax refunds if you fail to file your past-due taxes. 

Tax Refunds Statute of Limitations  

Essential, you are required to file a claim for a credit or refund within: 

• Three (3) years from the date of filing your tax return, or 

• Two (2) years from the date of paying your taxes. 

Unless you file your back taxes and resolve your tax issues within the specified period, you may lose your chance to claim tax refunds. 

If You Owe More Than You Have 

If you are overburdened with tax debt – owing more taxes than you can afford to pay – you may be able to attain tax compromise or relief through any of these options: 

Payment Agreement 

Taxpayers who owe more taxes than they can pay immediately may seek additional time through a long-term or short-term payment agreement or plan. 

Short-term Payment Plan: This option is available for taxpayers who owe less than $100,000 in combined tax, interest, and penalties. The plan lasts for up to 180 days. 

Long-term Payment Plan: This option is available for taxpayers who owe $50,000 or less in combined tax, penalties, and interest. 

Offer in Compromise 

Offer in compromise (OIC) involves an agreement between the taxpayer and IRS which allows the taxpayer to pay their back taxes for less than the exact amount owed. Essentially, an offer in compromise allows the taxpayer to negotiate or propose a reduced sum to the tax authorities. This may be a great option if you’re overwhelmed with tax debts or if paying the full past-due taxes may put you in financial hardship. 

Discover Your Options Today  

Paying past-due taxes is essential to protect your eligibility for public assistance and avoid accumulated interest charges or other penalties. However, there are several complexities involved in filing back taxes. Therefore, when you need to file your unfiled tax returns, it is crucial that you speak with a seasoned tax attorney for detailed advice and to explore your possible options.  

At Zuckerman Law, LLC, I’ve devoted my career to guiding taxpayers through the complex procedures involved in filing back taxes. As your legal counsel, I can evaluate your unique circumstances, explore your options to achieve compromise or relief, and guide you through the legal steps involved. In addition, I will reach out to the tax authorities on your behalf and help negotiate a reduced payment. 

Back Taxes Attorney Serving Ft. Lauderdale, Florida  

If you need help filing your past-due taxes or resolving issues with the IRS, reach out – Zuckerman Law, LLC – today to arrange a case assessment. I possess the dedicated advocacy and knowledgeable legal counsel you need to make crucial decisions. My firm proudly serves clients across Fort Lauderdale and surrounding areas throughout South Florida, including Miami, Hollywood, Boca Raton, and North Miami Beach.