As we have written about before, tax issues are inherently complicated, thus making it difficult to give any blanket analysis of certain tax problems. Each individual case is going to have its individual answer, and that answer will differ from person to person, from circumstance to circumstance.
But if you forgot to file your taxes, or if you simply didn’t file them for any reason, there are two pieces of advice that definitely apply to every case: first, you shouldn’t do that, and second, you should not ignore the problem that you are now facing.
It doesn’t matter if you are talking about debt, taxes or some other monetary situation. In almost every situation where there is a financial obligation, ignoring the situation will only make things worse.
If you actually forgot to pay your taxes this past April, then you should file an amended tax return. Waiting for the Internal Revenue Service to contact you is not in your best interest. Do everything in your power to be proactive. Taking the initiative shows the IRS that you are willing to figure the problem out, and it could earn you some leniency with the agency during this time.
If you have any pause about your tax situation, or if the IRS gets aggressive with you about your tax debt, you should consult an experienced tax attorney immediately. You don’t want to mess around with complex tax issues on your own. Protect your rights and get in a position to put this debt behind you by consulting with a tax lawyer.
Source: FOX Business, “What to Do if You Forgot to Pay Taxes,” Credit.com, June 3, 2014