Past Due State Income Tax Returns
While most of us know how harsh the IRS can be in the face of late tax payments, we often don’t realize just how aggressive the state can be in the case of past due state income tax returns. The truth is that the state can be just as tough as the IRS. If you are an individual taxpayer or own a business in the state, then you want to be sure that your state income tax returns are taken care of on-time.
In the event that your state income tax return is delinquent, then you need to be prepared for the actions that you should take next. If you find yourself in this situation, then the best first step is to contact a tax professional who can guide you and represent you.
What Can Happen if My State Income Tax Return is Late?
If you are required to pay state income tax returns and you fail to do so on-time, then you can expect the state to react. The consequences can be harsh, every bit as tough as the IRS. In fact, you can expect to see letters, collections, interest, penalties, and even worse consequences if you file your income tax return late or fail to do so at all. In some cases, you could end up in a fight that you’re completely unprepared for. That’s why it’s best to get someone on your side who has the expertise and tax acumen to walk you through what could become a very difficult process. If your state income tax return is late, then you will undoubtedly face some sort of consequence, ranging from fines to collections and even seizure. With the right help, however, you can get the best result from a tough situation.
How Can I Take Care of Delinquent State Income Tax Returns?
Whether you have a single late filing or years of such delinquent filings, then it’s best to tackle the situation as early as possible. This can seem like a truly endless task for individuals and business owners who are determined to remedy their delinquency on their own. In some situations, however, people and businesses often find themselves in over their heads. This happens because the rigorous process of getting through the delinquent state income taxes can just be too overwhelming. The good news is that our team handles these kinds of issues on behalf of taxpayers just like you every single day. We know the ins and outs, and we know how to get the best possible results for you.
What Do I Do Next?
Your next step should be to contact our team. We’ll ask for all of your documentation, including bank statements, bookkeeping, and any letters you might have received regarding your delinquent state income tax returns. Then, we’ll represent you in order to negotiate the best deal we can. This might include an offer in compromise, installment agreement, or hardship status. We’ll take care of the hard work for you so that you can breathe a little bit easier.