For example, if you have a refund coming to you, and you file more than 3 years past the due date (including valid extensions), most of the time the IRS will keep the refund. The IRS will not even offset the refund against an old tax liability from another year.
If you are in a “binding” installment agreement to pay a prior tax liability, or in an un-collectible status, the filing of any return or the paying of any tax late will void the agreement. This will cause all money to become due immediately. Often when an agreement is in default, taxpayers find out via a levy on their bank account or paycheck. Even worse, taxpayers may find out through a levy on their spouses paycheck or a lien on their house and seizure of other property!
Taxpayers are not always notified first about settling their past due taxes. Sometimes, even the representative does not receive notification! The IRS may have filed a return for you, charged you with the tax, and is now about to take collection action against you. You probably are not aware of it yet. You are about to find out the hard way!
I have helped hundreds of tax clients in this situation. I can help you also. Call me today for total relief.
Mike McVay, Tax Accountant 850-725-5696 Mike@MikeMcVay.com