Tax season can be overwhelming, and sometimes life can get in the way, leading to missed deadlines. If you find yourself facing
late tax filing for 2022 in Las Vegas, NV
, you're not alone. Many people delay filing their taxes due to stress, confusion, or unforeseen circumstances.
The good news? There's still time to address your 2022 unfiled taxes! Acting quickly can help you minimize penalties, claim refunds you may be owed, and avoid problems with the IRS. Whether you’re filing late because you missed the deadline or need professional help sorting things out, Paramount is here to help.
If You Were Owed a Refund on Your 2022 Taxes
The IRS allows a limited time frame to file taxes and claim refunds after the original deadline has passed.
Here’s everything you need to know:
IRS Notices: If you haven't filed your 2022 tax return yet, chances are the IRS has already sent notices or warnings to alert you about the missed filing. Do not ignore these notices; read them promptly to understand the next steps and deadlines.
Filing for Refund: The IRS allows taxpayers up to three years from the original deadline to file for and claim a refund. The final date to claim a tax refund for a 2022 tax return is April 15, 2026. The amount refunded will be limited by the “lookback period,” meaning it cannot exceed the amount of tax paid in the three years (plus extensions) before claiming the refund.
Important Detail: If you don’t owe the IRS any money, you won’t face penalties for filing late. However, it’s still better to file sooner rather than later to ensure you don’t miss the chance to claim your refund.
Additional Information: Late filers may still qualify for tax credits and deductions such as the Earned Income Tax Credit (EITC), child tax credits, or education credits. Filing your 2022 taxes now helps you take full advantage of available tax breaks.
If You Owe The IRS Money and You Haven’t Filed
If you owe money to the IRS and have not filed your 2022 taxes, you could face severe penalties and end up owing more than you initially would have. Here’s what you need to know about potential consequences:
Penalties
Failure to File Penalty (FTF): If you owe the IRS and haven’t filed your return, you could be facing a failure to file penalty of 5% per month, up to 25% of the total tax owed. Interest is charged on all penalties, so even a small tax debt can become very large.
Failure to Pay Penalty: Filing isn’t enough if you owe taxes. The penalty for failure to pay starts at 0.5% of the unpaid taxes per month and increases to 1% per month, up to a maximum of 25% of the total amount due.
Both of these penalties can cause the amount you owe to the IRS to increase dramatically. However, you may avoid or reduce these penalties if you can show a reasonable cause for not paying on time. This is not guaranteed, so it is best to tackle late taxes as soon as possible.
Additional Consequences
IRS Filing for You: The IRS might step in and file a substitute return for you if you have waited too long to file. These returns don’t account for any credits, deductions, or exemptions you may qualify for, leading to a much higher tax owed than if you filed yourself.
Debt Collection: The longer the debt remains unpaid, the more aggressive the IRS collection efforts become. Failure to pay owed taxes can result in consequences, such as property seizure, wage garnishment, or bank account freezing.
What to Do
If you owe money, consider speaking with a tax adviser to explore your options for payment plans and reduce the penalty charges you face. The professionals at Paramount understand the complexities of the late filing process and can guide you through every step.
Get Back in Good Standing with the IRS
It's never too late to take control of your finances; start with late tax filing for 2022 in Las Vegas, NV. Whether you're owed a refund or have unpaid taxes, addressing your 2022 tax filing now will help you avoid penalties and allow you to resolve any outstanding tax obligations.
If you owe the IRS, don’t panic. The IRS offers payment plans for your situation, and a tax expert can help you navigate and set up the right plan for you. Working with a tax professional provides the tools and strategies necessary to remain organized and proactive, so future tax seasons are stress-free and completed on time.
Working with a knowledgeable tax adviser means you don’t have to face the IRS alone. Contact Paramount today for a consultation. We have helped countless clients in Las Vegas, NV successfully file late taxes and get back into good standing with the IRS.
Late return review
Timing, accuracy, and necessity are key factors when it comes to filing a late tax return. Paramount Tax & Accounting in Las Vegas can assist you from start to finish.
John is a great tax professional. Definitely recommended him for all your tax purposes.
Alfonso Saldana
Definitely the best tax professional in the industry. We call numerous times for last minute for documents and John is always on top of providing us whatever is needed.
J NYGiants
John is just Outstanding!! He goes way out of his way doesn't matter how late to get the job done! He saved me much money and helped us find it other areas to gain back in taxes... Is extremely good, has become a great friend and I am glad to refer everybody that I can to him. I only wish I knew him over the last 15 years instead of the last 4 as I would have had a lot more money in my pocket plus a very good price for what he does... You could not go wrong with John!
C Bakke
After 15 years, with our tax consultant we found a need to find a new one. We located Paramount Tax and Accounting by chance and this is the second year he has prepared our taxes. John Williams is knowledgable, efficient, and in my estimate more than fair on his charges for service. I would highly recommend his services.
Dj Moore
Great experience, I was behind on filing my taxes because another company had lead me on for a while. I booked an appointment the same week and it was a short and sweet appointment, with any and all questions answered.
Martha
Very easy and efficient!!
Detail City Auto Spa
John is always very helpful and takes the stress of taxes away!
Greg Gallagher
My first meeting with John was to fix the mistakes in my S/S taxes that my last accountant made, I have been coming here since.
John has given me the personalized help that I need for my personal and business taxes that I have not gotten before. It has been a pleasure working with John.
Selena
I’m big on reviews and when I read about paramount taxes thought I give John a go. It was sensitive talk for me considering I was filing taxes for my father who past away. John was very understanding, patient and helped guide me through this process. Thank you John for services I’ll be coming back to you next year.
Carolyn Lajara
Jon was so helpful and patient. I came in there completely lost and left feeling so much clarity on my taxes for not just previous years but also how to handle them better for years to come. I tried filing my own small business taxes on TurboTax last year and completely messed everything up, but Jon helped me clean up that mess and filed my taxes for this year. I’ve already gushed about him to all my friends here in Vegas haha highly recommend
Mark Banning
John has been a pleasure to work with. I am an independent contractor and I appreciate John's insights that are unique to small business owners.
Alex Z
Fast, efficient, and very knowledgeable.
Tina C
John is fantastic! I highly recommend him. He's efficient and precise. He answered all of my questions extremely well in a way I could understand. Taxes are usually such a hassle and a dread, but I have walked out of that office feeling relieved again.
A W
Excellent service. They are Knowledgeable, professional and caring! I mean it’s nice to see your accountants spend hours working on your taxes to save you money. Highly recommended
Tyler Yates
John Williams has been great for me since joining him at Paramount Tax. He answered and addressed all my concerns and got me set up with a team that is assisting me for all my business needs reducing my stress for all accounting and tax issues that I had with my previous company. He's knowledgeable and easy to work with, would definitely reccommend.
Ascanio Pignatelli Aragona Cortez
Very happy with their service. I was finally able to fix my tax nightmare. Highly recommend.
J L
I have been working with Paramount Tax for several years now, they provide great services, highly recommend.
Tiffany Ramirez
I filed (late) my taxes with John and he was very patient and accommodating to my busy schedule. The process was easy and all communication was done through phone, text and email. Would definitely recommend him if you need your taxes done.
Nate
Awesome experience with John, explained everything in detail. Nothing was ever an issue for him to handle. John has always been welcoming and willing to help. Living out of state John was able to handle the process I needed remotely. Thank you!
Kimisha Crisp-Brain
My husband and I have been clients of Paramoumt for the past eight yrears. Unfortunately, MULTIPLE negative experiences with our "then" tax firm, from our preparer quitting and the next two dying, with no notification or taking over of our return by any one, at a firm where multiple tax professionals were employed, apt and aware. We were in need of a tax S.O.S! My search for help led us here. John Williams, was there to help fix what our prior firm broke. Here both our personal and business taxes were reconciled, and our new LLC., was established under the professional guidance that extended well beyond the tax season.
Don’t Leave Money Behind
Maximize your deductions and reduce your liabilities. Schedule with Paramount Tax & Bookkeeping in Las Vegas today
Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting in Las Vegas, is that we know taxes!
Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Late Tax Filing firm in Las Vegas. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting in Las Vegas!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics.
Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting in Las Vegas a call or visit our
tax and accountingbookkeeping firm in Las Vegas
for a free consultation.
Why Choose Paramount Tax & Accounting in Las Vegas?
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
Paramount Tax is now offering financial and tax franchises across the US!
In the unlikely event you receive a tax notice, we have an entire audit defense department ready and available to help. We partner with Protection Plus $1 Million Tax Audit Defense so that we can work towards a favorable resolution in every situation our clients might face.
