E: dpeterson@burkhartpeterson.com / T: (210) 377-3311

Late / Old Years Tax Returns

If you have a number of un-filed tax returns from past years, we can help you to quickly get back into filing compliance.

Our firm takes the necessary steps to be sure that your tax returns are as complete and accurate as possible. In addition to carefully reviewing the tax information that you bring to us, we also take several other steps to help you avoid potential problems and to maximize tax savings. Among those common extras are the following:

  • Annual income summaries are obtained and referenced (when available) through the taxing authorities so we know what W-2s, 1099s, etc. have been reported under your identification numbers;
  • A careful checklist is followed to confirm that we have asked you all of the reasonable questions about possible exemptions, downward adjustments to income, itemized deductions, non-refundable credits and refundable credits; and
  • An extensive interview is conducted to be sure that business bookkeeping or expense summaries do not omit valid deductions, such as amounts paid by cash or amounts that can be substantiated with alternative forms of documentation instead of receipts.

Unfortunately, many other tax preparers do not follow these same important steps. We commonly encounter errors made by careless or uninformed preparers and in many instances the opportunity to correct them is still available. When errors are discovered by our firm we generally do the work to get them corrected, so long as the benefit to our client is large enough to make the correction worthwhile and the assessment and/or refund statutes are still open. Generally, a tax return can be amended within three years of its original filing date and a refund can be claimed within two years of the date of an overpayment (certain restrictions do apply to these).

It is not only sloppy preparers that miscalculate tax balances owed. Sadly, amounts calculated by the federal and state taxing authorities are often times overstated. In some cases where a taxpayer doesn't file a tax return, the federal and state governments will use estimated calculations to make an assessment. These calculations generally do not consider any exemptions, deductions, adjustments, credits or sometimes even tax payments on account that may benefit the taxpayer and so they commonly overstate the true tax, penalty and interest balances owed. Our firm may be able to get these government overstatements down to the proper amounts after preparing and filing your original tax returns for the periods in question.

Many multiple year non-filers have had their records lost or destroyed. It is fairly common that we must overcome this while helping clients achieve tax-filing compliance. We can help by reconstructing needed records and/or by using the best information available to get the returns filed while meeting the standards of governing bodies and/or tax authorities.

If you have a number of un-filed tax returns from past years, contact our office so we can help you to quickly get back into filing compliance.

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