Owe back taxes in Long Island?

Know the Facts About Back Taxes

In the modern world, Americans are required to pay local, state and federal taxes. With the payments of these taxes, there are receiving ends: local agencies, the state of New York and the IRS. Perhaps the most harrowing of all tax payments would be the federal taxes, especially because there are serious consequences for failing to file them. Sometimes, individuals are confused over whether they are actually required to file their federal taxes. Some do not succeed in filing them due to an additional tax that an individual is unable to pay in full. If you are culpable for back taxes, the IRS will try to take action before the issue is resolved. Reaching out to a Long Island tax attorney is the best first step in solving the issue.

Before anything is done, the best first step is to file a tax return as soon as possible. This process is referred to as "voluntary filing" and it will clear your name from any liable criminal charge. Two common circumstances concerning back taxes involve a) the failure to file by the due date, including extensions (making you subject to a failure to file and a failure to pay penalties), and b) filing on time without paying in full (making you only subject to failure to pay penalties). Unfortunately, penalties and interest go hand in hand with back tax situations. Despite any extensions that may be granted for filing, interest builds upon any taxes not paid by the due date and the penalties that accompany.

Help from a Tax Lawyer in Long Island, NY

Taxes are very stressful to deal with as it is, let alone when back taxes are involved. With the support and guidance of a highly skilled professional, the best possible resolution will be sought out while keeping in mind your future's protection. Arthur Blutter of Blutter & Blutter not only has a license to practice law in the state of New York, but he is a proud CPA and NY MBA with over 30 years of practice in tax law. Mr. Blutter and the firm welcome the privilege of serving each and every client.

If you need help with your back taxes, contact a Long Island tax attorney for immediate assistance.