File Your IRS Back Taxes

When you file your back taxes, payments made toward your IRS back taxes may be made by any type of credit card, bank loan, and installment payments. We recommend that you take a close look into your options for a bank loan or credit card payment since the installment plan will generally cost you more money.

You have three years to file your IRS back taxes from the date that they were originally due to receive any refunds. Your ability to receive a refund will expire after the three year deadline so it is important that you file as soon as possible. The refund money, if you have filed before the expiration date, may even be applied to other IRS back taxes if you owe for a different year filed.

Federal IIRS back taxes should generally be paid as quickly as possible. The federal government's approach to taxes is to allow tax payers to voluntarily file their income tax returns. This does not mean that the payment of taxes is not mandatory.

Tax payers may apply for any number of applicable deductions and claim the Earned Income Credit, when voluntarily filing on time or in the case of filing IRS back taxes.

If your taxes are not filed voluntarily the IRS may file a substitute return for you, without any qualified exemptions or deductions which can be a double hit to your wallet. Since exemptions are not always taken into account when generating a tax return estimate, it is wise to double check your back taxes that are calculated by your own hand to check accuracy. A Collection of payment for back taxes could involve liens on your property and or levies on your wages and bank accounts.

Filing taxes can be a uncomfortable task but, the IRS provides help for those of low and moderate income in the Volunteer Income Tax Assistance program.

Tax payers that are over the age of 60 may find assistance in the Tax Counseling for the Elderly program. These programs are free of charge for those that can qualify and it will help you with IRS back tax filing.

If you have received an official notice from the IRS about your back taxes that are overdue, you should send your return to the address on the notice. Forms and instructions may be found on the IRS website www.irs.gov for preparing your taxes from as far back as 1990, along with information on where to mail your tax return once completed.

It's easy to end up filing late if you anticipated a refund only to find out that your calculations were off and you then owe additional late fees. Either way it is important that you complete and file with the IRS as soon as possible to avoid additional interest and penalty fees.