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Why do I Need a CPA to File Old Tax Returns in NYC?
The mere thought of owing the IRS anything can scare anyone, this NYC CPA included! However, some people are so fearful that they actually do not file tax returns on time and have prior year returns outstanding.
Regardless of why you didn’t file old tax returns this New York City CPA may tell you that you need to take care of it this year.
When it comes to dealing with the IRS, most people are very intimidated by them, especially if you are late filing. Our staff of CPAs and CPAs in training can work with you first to get you back on track. Most of the time, the IRS will work with you to make payment arrangements. As long as you keep your arrangements there will not be any problems. If you owe the IRS money, they may place a lien on your property to hold as collateral until you satisfy your debt. You can make your payment directly to the IRS or you can make your payment through your CPA. You can make these arrangements during your visit.
Once you file your old, prior year return, you need to determine what caused you to get off track to begin with. You need a way to get better organized so this does not happen to you again. But before you can think ahead you need to clean up the path behind you and pay off the past due years. A CPA can help you file the right form and get your payments into the IRS quickly and easily. They can also help you get back on the right road so you can be ready for this year’s taxes.
Ask your CPA how you can better prepare and stay ahead of the tax season. If you need to make payments to the IRS make sure that you stay on track and don’t forget any. When possible, pay a little more one month when you know that you have it so you can hurry up and pay it off.
About us: MEDOWS CPA, PLLC is a boutique New York City Certified Public Accountant firm (CPA NYC) working with serving the needs of Individuals & Small Businesses in New York City and throughout the nation. We work with the self-employed, freelancers, LLC, C-Corporations and S-Corporations to help them with their accounting and tax needs.
Jonathan Medows, CPA
MEDOWS CPA, PLLC
A Unique, Boutique New York CPA Firm Serving the Needs of Individuals & Small Businesses