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Personal Taxation - Resident

Haven't Filed an Income Tax Return? Here's What to Do

File All Tax Returns
Taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. All payment plans require continued compliance with all filing and payment responsibilities after the plan is approved.

Facts About Filing Tax Returns

  • Failure to file a return or filing late can be costly. If taxes are owed, a delay in filing may result in penalty and interest charges that could increase your tax bill by 25 percent or more.
  • There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund.  In order to receive a refund, the return must be filed within 3 years of the due date.  If you file a return, and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later.
  • Taxpayers who are entitled to the Earned Income Tax Credit must file a return to claim the credit even if they are not otherwise required to file.  The return must be filed within 3 years of the due date in order to receive the credit.
  • If you are self-employed, you must file returns reporting self-employment income within three years of the due date in order to receive Social Security credits toward your retirement.

NOTE: Taxpayers who continue to not file a required return and fail to respond to IRS requests for a return may be considered for a variety of enforcement actions.  Continued non-compliance by flagrant or repeat nonfilers could result in additional penalties and/or criminal prosecution.
We will be happy to help you with your filing requirements.

Documents Required to Prepare a Return
In order that we may assist you with preparing  your  tax return, taxpayers should bring any and all information related to income and deductions for the tax years for which a return is required to be filed.  Some of the documents may include:

  • Forms W-2 – Forms from employers showing wages for the year.
  • Forms 1099 – Forms from banks and other financial institutions showing interest and dividends.  Forms 1099 also report self-employment income.
  • Information on expenses to claim on the return, such as itemized deductions, child care expenses, or employee business expenses.
  • Social Security numbers for dependent children and any other person claimed as a dependent
  • A copy of the last tax return filed.
 

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A H Gantt CPA & Associates, PA is a licensed and insured firm of Certified Public Accountants (CPA) located in Kissimmee Florida catering to US Taxation and Reporting issues, for domestic and non-resident clients, both individuals and corporations. A H Gantt CPA & Associates, taxes, cpa orlando, accountant kissimmee, 1040nr, derek breen, florida accountant, cpa, business tax florida, filing taxes, US taxation, tax reporting, non-resident taxes, visa, immigration, move to florida, consultancy taxation