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Being delinquent in your tax filing can feel overwhelming, but it's fixable. We help individuals and business owners prepare and file overdue returns, correct past issues, and work directly with the IRS to restore compliance and reduce your stress. Click below to see an overview of the legal and tax implications, followed by a recommended path forward to get back into compliance.

Acully strives to answer your questions with experience and expertise

  • Is it too late to file late returns?
  • How do I know if I have any penalties?
  • I didn't know I was supposed to file my taxes.
  • How do I file for an extension?
  • Can I file my late taxes myself or should I hire a professional?

There's still time to file your late returns

Contact Us

Complete Annual Return

Preparation and filing of overdue returns to restore full compliance

IRS Payment Plan

Set up an affordable payment plan to resolve tax balances with the IRS

What you can expect

Get Started
  • Unlimited access to DocuTrakerTM app
  • Periodic video meetings, discussions, and check ins
  • Complete federal and state tax filings
  • Billed after satisfactory completion

Lets meet to understand how we can help

  • Video meeting and discussion
  • Free quote and follow up
  • Free access to monthly newsletters and blog postings

Annual fee starting at

$

695

Book A Meeting

Initial Meeting

$

0

BEST OFFER

Annual Return Compliance Package

Our offer

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Considerations Specific to Expats

Legal Implications of Being Tax Delinquent
Failure-to-file Penalties
  • 5% per month (up to 25% max) on unpaid taxes for late filing.
  • If over 60 days late, minimum penalty is the lesser of $485 (2024) or 100% of the tax due.

Failure-to-Pay Penalties
  • 0.5% per month of unpaid taxes, up to 25%.
  • Continues to accrue until taxes are paid in full.

Interest Charges
  • Interest accrues daily on both unpaid tax and penalties.
  • The rate changes quarterly and is usually the federal short-term rate + 3%.

Loss of Refund
  • You forfeit your tax refund if you do not file a return within 3 years of the original due date.

Enforced Collection Actions
  • IRS may take aggressive collection steps:
    • Liens on property
    • Levies on bank accounts or wages
    • Passport revocation or restriction
    • Seizure of assets

Criminal Charges (Rare, but serious)
  • If the IRS believes the failure was willful, you could face criminal prosecution.
  • Potential penalties: $25,000–$100,000 in fines and up to 1 year in prison per year not filed.
Implications of late tax returns
Ineligibility for installment Agreements or Offers-in-Compromise:
  • You must be current with all tax filings to qualify for payment plans or debt settlement

Loss of Certain Credits
  • You may lose eligibility for tax credits (e.g., Earned Income Tax Credit, Child Tax Credit) if you don’t file in time.

State Tax Issues
  • Many states mirror IRS enforcement. A delinquent federal return can lead to state penalties, wage garnishments, or driver’s license revocation.
Recommended Path Forward
Gather your information
  • Collect W-2s, 1099s, mortgage interest statements, prior-year tax documents, and bank account info.
  • You can request your IRS wage and income transcripts (via IRS.gov or Form 4506-T) or we can do that on your behalf with a power of attorney.

File All Late Tax Returns
  • Voluntarily filing before the IRS contacts you can reduce penalties and avoid criminal action.
  • The IRS typically wants the last 6 years of returns to be filed.

Use IRS Voluntary Disclosure Options
  • If you suspect criminal exposure, consult a tax attorney to explore the Voluntary Disclosure Program (VDP).
  • Otherwise, use IRS Streamlined Filing Compliance Procedures (for non-willful delinquents with foreign income) or just file late returns.

Work With a CPA
  • We can help you:
    • Prepare old returns accurately
    • Determine penalty abatement eligibility (e.g., First-Time Abatement)
    • Navigate complex tax filings (foreign income, business, etc.)

Set Up a Payment Plan if You Owe
  • If you can’t pay in full, request
    • Installment Agreement (Form 9465)
    • Offer in Compromise (Form 656), if you qualify for settlement
    • Currently Not Collectible (CNC) status, if you have financial hardship

Request Penalty Abatement
  • If you have a valid reason (serious illness, natural disaster, financial hardship), file Form 843 or call the IRS to request reasonable cause relief.
  • First-time late filers may qualify for First-Time Penalty Abatement (FTA).
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Company INFOrmation

Acully Incorporated is a Certified Public Accounting firm licensed in The State of Ohio serving all 50 states and the global community.





Phone and Text 1-216-223-8623

Fax 1-440-545-7550

US – Concord, OH

EU – Trieste, Italy

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US Tax Team, Acully, MyStartup.US and DocuTraker are tradenames of John M Matras CPA Incorporated or its affiliates.