November 08, 2012 (Press-News.org) As the end of the year approaches, it is time to start thinking about preparing your 2012 income tax return. But what if you are one of the thousands of people who have failed to file one or more previous years' returns? Will filing a tax return this year simply draw attention to your past omissions?
Failing to pay individual income taxes or file a return is a serious violation of federal tax law, and continued failure to file will only make problems worse. With that said, it is important to talk with an experienced tax law attorney before filing tax returns or other paperwork with the Internal Revenue Service. An attorney will be able to review your case and make sure you are in the best position possible to start working with the IRS.
If you're like most people, you are probably pretty nervous to confront your tax problems head on. However, it is much better to be proactive than to wait for the government to find you. If you are behind on your tax returns, you might find the following information reassuring:
- The IRS wants to work with you: It is very rare for the IRS to threaten a cooperative person with jail time. In the vast majority of cases, they will work with you to figure out a realistic plan.
- You don't need every record: Don't let the fact that you haven't hung on to every receipt and tax record stop you from addressing your problems. Your tax attorney will be able to help you obtain duplicate copies and fill in any information gaps.
- You probably won't owe as much as you think:When income tax returns aren't filed, the IRS estimates the tax liability based on substitute filed returns. Usually, the estimated liabilities on SFRs are higher than the actual amount owed once a correct tax return is prepared
- The IRS will take your situation into account:Sometimes, the IRS will reduce or eliminate your late filing penalties if you have a good reason for not filing your tax returns.
Penalties for failure to file tax returns
Individuals who don't file federal income tax returns can face some significant penalties. At the very least, the IRS will likely assess penalties and interest charges on the amount owed, making the outstanding tax bill even higher. The IRS will also prepare a substitute return, which, as mentioned above, usually shows a tax liability that is much higher than what is actually owed. The IRS will use the SFR to start the collections process, which can include garnishing wages, placing levies on bank accounts or filing federal tax liens against a person's property.
In some cases, individuals who fail to file tax returns can also be subject to criminal liability and prison time.
If you have failed to file previous years' income tax returns, it is best not to wait any longer. Contact an experienced income tax attorney who can help you reach a solution with the IRS.
Article provided by Brown, PC
Visit us at www.browntax.com
Don't Wait to File Past-Due Federal Income Tax Returns
As the end of the year approaches, it is time to start thinking about preparing your 2012 income tax return. But what if you are one of the thousands of people who have failed to file one or more previous years' returns?
2012-11-08
ELSE PRESS RELEASES FROM THIS DATE:
What paleotempestology tells scientists about today's tempests
2012-11-07
Boulder, CO, USA – Understanding Earth's paleo-hurricane record cannot be more timely and important in a light of Hurricane Sandy, which shocked the U.S. East Coast last week. Talks in this Wednesday afternoon session at the GSA Annual Meeting in Charlotte, North Carolina, integrate field, lab, and model analysis of past hurricanes and future scenarios, covering a wide range of temporal and spatial scales.
Session co-organizer Daria Nikitina of West Chester University says that "gaining understanding of past events provides the context for future coastal vulnerability. ...
New insight into why haste makes waste
2012-11-07
Why do our brains make more mistakes when we act quickly?
A new study demonstrates how the brain follows Ben Franklin's famous dictum, "Take time for all things: great haste makes great waste."
The research – conducted by Research Assistant Professor Richard Heitz and Jeffrey Schall, Ingram Professor of Neuroscience, at Vanderbilt University – has found that the brain actually switches into a special mode when pushed to make rapid decisions.
The study was published Nov. 7 in the journal Neuron.
"This is a question that is very basic to our experience as human beings, ...
Teaching the blind to read and recognize objects with sounds
2012-11-07
VIDEO:
This is an example of one image from each of the visual categories used in the structured SSD training (geometric shapes, Hebrew letters, textures, body postures, everyday objects, houses, and...
Click here for more information.
Areas of the brain in blind people can learn to process visual input through the use of sound, even after years or perhaps even lifelong blindness, according to new research reported in the November issue of the Cell Press journal Neuron. The findings ...
Looking for the anti-Alzheimer's molecule -- A new approach to treating a devastating disease
2012-11-07
Ottawa, Canada (November 7, 2012) – Researchers at Dalhousie University have discovered a new technique using "computer-aided" drug design that may lead to an entirely new approach in the treatment of Alzheimer's disease (AD).
"Alzheimer's is a devastating disease for which no truly disease-modifying drugs are available. Our approach is completely novel. We explore how the human body attempts to protect itself from Alzheimer's, and then we exploit this to develop an entirely new approach to therapeutics," explained Dr. Weaver, a professor at Dalhousie University, ...
Geologist calls for advances in restoration sedimentology
2012-11-07
BLOOMINGTON, Ind. -- Rapid advances in the new and developing field of restoration sedimentology will be needed to protect the world's river deltas from an array of threats, Indiana University Bloomington geologist Douglas A. Edmonds writes in the journal Nature Geoscience.
The commentary, published this week in the November issue, addresses the fact that land is disappearing from river deltas at alarming rates. And deltas are extraordinarily important: They are ecologically rich and productive, and they are home to about 10 percent of the world's population.
"There's ...
In the digital age, managers can't ignore #angrycustomers
2012-11-07
CHESTNUT HILL, MA (November 7, 2012) – In a digital age where dissatisfied consumers vent their concerns through biting viral videos, nasty blog posts or negative online comments, managers need to develop strategies to soothe angry customers in person as well as online, according to a new study in the latest edition of the Journal of Service Research.
In a study that explores the changing ways in which customers express their emotions, the researchers found that anger can quickly fuel negative word-of-mouth commentary to fellow consumers, family and friends, as well as ...
Protein reveals diabetes risk many years in advance
2012-11-07
When a patient is diagnosed with type 2 diabetes, the disease has usually already progressed over several years and damage to areas such as blood vessels and eyes has already taken place. To find a test that indicates who is at risk at an early stage would be valuable, as it would enable preventive treatment to be put in place.
Researchers at Lund University have now identified a promising candidate for a test of this kind. The findings have been published in the journal Cell Metabolism.
"We have shown that individuals who have above-average levels of a protein called ...
Persistent sync for neurons
2012-11-07
A team of Brazilian physicists working with neuroscientists studying freely behaving rats have found that their neurons often act in precise coordination over time, in a study about to be published in EPJ B. These findings stem from the work of Bruno Silva, a researcher at Bahia Federal University in Salvador, and his colleagues from other universities in the Northeastern region of Brazil, and suggest that neuronal networks' memory could be explored in the future.
Because neurons are connected with each other, acting as operational units in the brain, they can be considered ...
City birds adapt to their new predators
2012-11-07
Faced with the same threat, city and country birds do not react in the same way despite being from the same species. According to a new study, urban birds have changed their anti-predator behaviour in new environments.
When a bird is faced with a predator, its only objective is to escape. However, city birds do not react in the same way as their countryside counterparts, despite being from the same species. Urbanisation plays an influential role in their survival strategies.
To study this phenomenon, Juan Diego Ibáñez-Álamo, researcher at the University of Granada ...
Ultrasensitive photon hunter
2012-11-07
Fast and ultrasensitive optical systems are gaining increasing significance and are being used in a diverse range of applications, for example, in imaging procedures in the fields of medicine and biology, in astronomy and in safety engineering for the automotive industry. Frequently the challenge lies in being able to record high-quality images under extremely low light conditions. Modern photo detectors for image capture typically reach their limits here. They frequently work with light-sensitive electronic components that are based on CMOS (Complementary Metal Oxide ...
LAST 30 PRESS RELEASES:
Researchers improve marine aerosol remote sensing accuracy using multiangular polarimetry
Alzheimer’s Disease can hijack communication between brain and fat tissue, potentially worsening cardiovascular and metabolic health
New memristor wafer integration technology from DGIST paves the way for brain-like AI chips
Bioinspired dual-phase nanopesticide enables smart controlled release
Scientists reveal it is possible to beam up quantum signals
Asymmetric stress engineering of dense dislocations in brittle superconductors for strong vortex pinning
Shared synaptic mechanism for Alzheimer's and Parkinson’s disease unlocks new treatment possibilities
Plasma strategy boosts antibacterial efficacy of silica-based materials
High‑performance wide‑temperature zinc‑ion batteries with K+/C3N4 co‑intercalated ammonium vanadate cathodes
Prioritized Na+ adsorption‑driven cationic electrostatic repulsion enables highly reversible zinc anodes at low temperatures
Engineered membraneless organelles boost bioproduction in corynebacterium glutamicum
Study finds moral costs in over-pricing for essentials
Australian scientists uncover secrets of yellow fever
Researchers develop high-performance biochar for efficient carbon dioxide capture
Biodegradable cesium nanosalts activate anti-tumor immunity via inducing pyroptosis and intervening in metabolism
Can bamboo help solve the plastic pollution crisis?
Voting behaviour in elections strongly linked to future risk of death
Significant variations in survival times of early onset dementia by clinical subtype
Research finds higher rare risk of heart complications in children after COVID-19 infection than after vaccination
Oxford researchers develop ‘brain-free’ robots that move in sync, powered entirely by air
The science behind people who never forget a face
Study paints detailed picture of forest canopy damage caused by ‘heat dome’
New effort launched to support earlier diagnosis, treatment of aortic stenosis
Registration and Abstract Submission Open for “20 Years of iPSC Discovery: A Celebration and Vision for the Future,” 20-22 October 2026, Kyoto, Japan
Half-billion-year-old parasite still threatens shellfish
Engineering a clearer view of bone healing
Detecting heart issues in breast cancer survivors
Moffitt study finds promising first evidence of targeted therapy for NRAS-mutant melanoma
Lay intuition as effective at jailbreaking AI chatbots as technical methods
USC researchers use AI to uncover genetic blueprint of the brain’s largest communication bridge
[Press-News.org] Don't Wait to File Past-Due Federal Income Tax ReturnsAs the end of the year approaches, it is time to start thinking about preparing your 2012 income tax return. But what if you are one of the thousands of people who have failed to file one or more previous years' returns?