Filed lately? If you’re reading this, there’s a good chance the answer is no. You might just have past due tax returns.

We get it! Taxes can be intimidating, and many taxpayers who haven’t filed in a while didn’t set out to commit tax evasion. Instead, they were overwhelmed with personal circumstances, have complex income streams, or simply let their taxes or finances get away from them.

Nonetheless, the IRS wants you to file your past due tax returns. There are a ton of benefits that result from getting your unfiled tax returns handled as well as potential benefits you can lose out on when your taxes aren’t up to date.

In our experience, taxes issues aren’t usually isolated; they typically come in groups. Most taxpayers with past due tax returns often have substantial tax debt, or may be dealing with IRS wage garnishments or levies.

At StopIRSDebt.com, we’re of the mind that when you’re burdened with tax debt, your tax returns can offer you crucial insights toward getting you back on track. However, every taxpayer’s debt is unique and varies based on your income, how many years it’s been since you last filed your tax return, and a number of other factors.

We’re not here to judge; we’re here to help.

3 Things to Consider Before Filing Back Tax Returns

If you have unfiled tax returns, you may be considering filing and turning over a new leaf. Before you do, here are a few considerations you should make.

1. There’s a difference between filing taxes and paying taxes.

While tax issues often come hand-in-hand, it’s easy to mistake one issue for another. And when you have unfiled tax returns, you need to remember that filing your taxes is not the same as paying your taxes.

While filing your taxes is an active, annual process for many taxpayers, paying your taxes may not be. As your employer withholds your taxes, you’re technically slowly paying your taxes throughout the year. If you’re self-employed, you’re required to estimate and pay your taxes quarterly, then file annually.

The greater point here is that there are a ton of different situations that unfiled tax returns may put you in. Depending on your withholding, you may owe taxes, owe nothing, or have a refund owed by the IRS—all very different outcomes.

2. Filing back tax returns can offer benefits and savings.

As frightening as it can be to face a tax situation that you’ve left unchecked and unattended to for years, filing your past due tax returns can offer you a number of benefits.

One of the biggest overlooked benefits of filing your back tax returns is your tax refund. If you don’t actually owe the IRS any money, you may have money coming back your way—and filing your tax return is the only way to get your hands on it. Another upside is that nearly all tax penalties are based off your total tax debt. If that balance is $0, the penalties will be, too.

Additionally, regardless of whether you’ve filed your tax return, the IRS already has a sense of your tax debt from your employer and certain other parties who are legally obligated to provide it. The IRS won’t have a sense of your deductions and other reportable tax credits until your tax return is filed; in some cases, you can significantly lower your tax debt by filing your old tax returns.

3. You shouldn’t jump in headfirst and file.

We’ve listed some overwhelmingly positive reasons to get current on your past due tax returns, but you should note this all comes with a big caveat. You shouldn’t jump in and file with the IRS before taking a few precautions.

1. Take note of which years you have filed. Some people have just missed one year of filing, while others haven’t filed in five or ten years. Give yourself a full picture of your tax situation by taking note of the years you still need to file.
2. Gather all the paperwork you can. To prepare yourself for Step 3, you’ll need to gather some paperwork. Old pay stubs, donations, and W-2s from unfiled years will go a long way once you actually file. On that note…
3. Enlist help with the right tax relief company. When filing past due taxes, we don’t recommend enlisting a company that exclusively focuses on tax preparation. They’re unlikely to be equipped with professionals who are intimately familiar with resolving tax debt. If you’re going to put money toward getting right with the IRS, a full-service tax representation firm is the way to go.

Get Current with Tax Relief Help

There’s no better time than now to get caught up on your tax returns. If you’re just dealing with an unfiled return for this year or last, and you’re not anticipating a big tax debt, you may feel comfortable tackling the issue yourself.

However, it’s an intimidating situation. The more years of tax returns you have yet to file, the more relief you’ll feel enlisting someone to help. Got questions? Our expert team of tax attorneys can help—so get in touch today.