If you are a non-archiving taxpayer, it is important to know the steps that must be taken to be today with your tax refund obligations. There are many things that need to be considered when advancing and archiving returns that have passed maturity.
The longer you wait to file your return, the more interest and the penalty you will get. The best time to be today is always as fast as possible. You can choose tax preparation services through the internet.
Legally you are required to file all returns that you did not file in the past. Some attorneys and CPAs will recommend that you only file six years of delinquent returns because of the statute of limitations for prosecuting taxpayers for not filing their return.
However, there is no statute of limitations for assessing tax on tax returns that were never filed. That is why it is in your best interest to file all delinquent tax returns as soon as possible.
Even though you are recommended to file all delinquent tax returns, some may be harder than others to accurately assemble.
If it has been many years and you are unable to honestly and accurately state your income, then it may be in your best interest not to file that return. In these situations, the IRS will investigate your ability to file a specific return and make a judgment call on whether they will require you to file it or not.