Point of no return? If you’ve missed a few years of filling, don’t let yourself believe that there is no hope left. There is no end of the line with the IRS; it only gets worse. The longer you wait, the more aggressive they will become in collecting your debt and before you know it, you’ll find that rock bottom keeps getting lower and lower. The only way to truly pull yourself back into reality is to get the facts, and to get help.

Knowing is half the battle. Missing filing can be a serious matter, but when it’s given proper attention, there is nothing to worry about. Give your filings that attention before the IRS does. Not filing can incur a non-filing penalty of 5% of your income taxes. This penalty increases 5% per month up to 25%. So with five years unfiled, by now most of that debt is in penalties and interest.

Paying more attention and less interest: The most important thing with the IRS is communication. If you know you are going to be late, call them as soon as you know and request a 45-day extension. By contacting them, you show them that you are aware of your debt and you intend on paying it. More than anything else, the IRS just wants to know that they’re getting “their” money.

Lone Wolf: Don’t face the IRS alone; seek professional assistance. My partners at Tax Defense Network help people just like you everyday, and in some cases, people who are even further behind than you are! Without the assistance of professionals, the IRS will take advantage of the fact that you are not a professional. They will eat you alive with interest and penalties. Don’t let them; call for help immediately.

Bottom Line: Do not give up! Whether you just found out you’re going to late filing this year, or you haven’t filed in 10 years, there is always a light at the end of the tunnel.

Now you have the smoking gun…Use it!