Back Years Tax Return

Please note that the content in this article is purely informational and should not be taken as professional or legal advice. Tax laws and regulations are subject to change without notice. Consult an experienced accounting team like John Freeman CPA before making any serious financial or legal decisions.

Back years tax return involves filing outstanding taxes from a prior year. If you have back taxes, it is important to prepare and file a past-due tax return immediately. The process is the same as filing your taxes on-time. 

To avoid an outstanding back years tax return, you can request an extension of six months to prepare and file your tax return. If you don’t file or pay your taxes in full by the deadline, the IRS will charge interest and penalties on back taxes and take collection actions. For example, the IRS will impose a penalty of 5% on the amount of your unpaid taxes. 

If you need to prepare a back years tax return, we can help you file it now to avoid:

  • Interest and penalties 
  • Losing your refund 
  • Loan approvals being delayed 

To learn more about back years tax returns, contact us today!

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