Back Taxes Owed

The main reason people come in to file their back taxes is they have a notice or lean from New Jersey or the IRS. There are other reasons, such as getting married, applying for a mortgage, or wanting to clean up returns that weren’t filed properly before they are starting a business.  Whatever the reason we’re happy to help each client weigh the options of their unique situation.

One thing people need to know is even if you don’t have the money to pay the taxes, it’s important that you file. By filing the tax return you will avoid late filing penalties and give yourself the option to negotiate a settlement or payment plan.  There is also the possibility of getting penalties abated once you file. The IRS and New Jersey will never negotiate until they have the returns. Nothing can be done until all the returns have been filed.

How to File Back Taxes in New Jersey

The first step is coming to us, giving us all your information and/or having us help you with the book keeping to finalize your financial statements.  If necessary, we can request wage and income transcripts from the IRS and/or go through your bank statements to identity income and expenses.   Once we file the return, we will look at the getting late filing and payments penalties removed and negotiating your tax debt down, depending on your budget, your situation and how you want to proceed.