Thursday, August 10, 2023

Colorado Springs: How Do I Get Compliant and Resolve IRS Tax Debts?


 

What does it mean to be in tax compliance? How can you resolve your overdue and past tax obligations?  How long has it been since you last filed a tax return?  Did you last file in 1991?  Since you have not file for so long does it mean that you need to file 30 years of tax returns to be compliant?  The simple answer in most cases is "no."  The IRS requires that to be compliant, you must have filed for the last six years.  There are a few exceptions when you have to file farther back, but this does not happen often.

To solve any tax debts, qualify for an installment agreement, or make an Offer in Compromise you must first be compliant by having 6 years of tax returns filed.  For this to be done correctly need to consult with a tax professional such as Marcelino Dodge, EA for a proper analysis.  Once the analysis is complete, then a determination can be made getting the tax returns complete and calculating if you are candidate for an installment agreement or for an Offer in Compromise.

Cash Tracks Financial of Colorado Springs
Marcelino Dodge, EA
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
www.cashtracksfinancial.com
success@cashtracksfinancial.com

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