Many people fall behind on their taxes for a variety of reasons—life gets busy, financial hardships arise, or tax laws feel overwhelming. No matter how many years of unfiled taxes you have, there’s no need to feel ashamed.
The important thing is to take action now, and Paramount is here to help. We provide a stress-free, zero-judgment late tax filing service in San Diego, CA. Our professional, compassionate, and experienced team will work one-on-one with you to create a clear plan, resolve your tax situation, and help you regain control of your financial future.
Failing to file your taxes can lead to increasing penalties and interest charges. The IRS charges a failure-to-file penalty, which starts at 5% of what you owe per month, up to 25% of your total tax bill. On top of that, interest keeps adding up on any unpaid balance, making the amount you owe grow larger over time.
For example, if you owe $1,000 in taxes and don’t file, you could be hit with a $50 penalty for the first month, plus interest. For every extra month that goes by, the penalty keeps increasing until it reaches $250 or more, and that’s before any additional IRS fees.
Ignoring back taxes for too long can lead to even bigger consequences. The IRS may garnish your wages (take money from your paycheck), place a lien on your property (claim ownership over assets), or take legal action.
If you’ve fallen behind on your taxes, you’re not alone–and there’s no need to feel embarrassed or overwhelmed. At Paramount, we specialize in judgment-free back tax services, helping individuals and businesses file multiple years of late taxes with ease and confidence.
Here’s a quick look at our step-by-step process so you know exactly what to expect:
The IRS typically allows you to file up to six years of back taxes to remain in good standing. However, if you are owed a refund, you generally have only three years from the original due date to claim it.
In some cases, if the IRS has already filed a substitute return on your behalf, you may need to go back even further to correct it.
No, if you don’t owe taxes and are due a refund, there is no penalty for filing late.
If you owe taxes and file late, the IRS charges a 5% penalty per month on your unpaid balance, up to 25% of what you owe.
If your tax return is more than 60 days late, the minimum penalty is either a set amount–which depends on the filing year–or 100% of your unpaid tax, whichever is lower.
While failing to file taxes is illegal, criminal charges are rare unless there is evidence of tax fraud or willful evasion. The IRS is more interested in getting taxpayers to comply than sending people to jail. However, if someone intentionally avoids filing for multiple years while owing significant taxes, they could face criminal prosecution and potential jail time.
Yes, the IRS may waive penalties if you have a valid reason for filing late, such as a medical emergency, natural disaster, or financial hardship. You may qualify for First-Time Penalty Abatement if you have a clean tax record for the past three years.
There are a few things you can do to reduce late tax filing penalties:
At Paramount, we understand that life happens, and sometimes tax deadlines slip by. There’s no shame in addressing it now, and we’re here to help you move forward with confidence, not judgment.
Our experienced and caring team in San Diego specializes in helping individuals and businesses get their tax filings back on track. No matter how many years you need to file, we’ll guide you through every step with honesty, efficiency, and compassion. We’ll help you gather what’s needed, file accurately, and explore options to minimize penalties—so you can move forward with peace of mind.
You deserve relief from tax stress, and we’re here to make it happen. Contact Paramount today for your free consultation.
Timing, accuracy, and necessity are key factors when it comes to filing a late tax return. Paramount Tax & Accounting Rancho Bernardo can assist you from start to finish.
We review 3 years back to find errors / missed deductions.
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 accounting firm, such as Paramount Tax & Accounting Rancho Bernardo, is that our firm utilizes the services of licensed professionals.
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 firm in San Diego. So when you ask yourself, "Where can I find accounting services near me?"... think no further than Paramount Tax & Accounting Rancho Bernardo!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accounting firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accounting 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 Rancho Bernardo a call or visit our tax and accounting firm in San Diego for a free consultation.
