Understanding the IRS Substitute for Return
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
NOTICE CP259
IRS Notice CP259 is a notice sent to taxpayers who have failed to file a required business tax return. The notice will specify the tax period(s) for which the return is missing.
Reasons why it happened:- Forgetfulness or oversight:Â This is the most common reason for receiving IRS Notice CP259. It is important to set reminders for yourself to file all required tax returns on time.
- Lack of knowledge:Â Some taxpayers may not be aware that they are required to file a business tax return. This is especially common for new business owners.
- Financial hardship:Â Some taxpayers may not be able to afford to pay the taxes they owe, so they may delay or avoid filing their return. However, this is not a valid excuse for not filing a tax return.
- Tax fraud:Â In some cases, IRS Notice CP259 may be sent to taxpayers who are suspected of tax fraud.
- If you receive IRS Notice CP259, the most important thing to do is to file the missing tax return as soon as possible. You can file the return electronically or by mail. If you are unable to file the return on time, you can request an extension from the IRS.
- If you owe taxes, you should also make a payment as soon as possible to avoid penalties and interest. You can make a payment online, by phone, or by mail.
Important Tip: Not sure where to begin? Try our Tax Relief Finder tool. It helps you find IRS programs and gives recommendations for the best solution. Learn about our - Tax Relief Program Finder
Important Tip: Understanding the Tax-Relief process is an essential resource for individuals dealing with tax debt. It offers a road map guide, simplifying the steps needed to resolve tax-related issues- Tax-Relief Process
Ask Mike
You can now ask our AI assistant any questions you have about your tax debt or any tax-related issues. Whether you’re unsure about payment plans, need clarification on penalties, or want information on how to resolve your tax situation. Our AI is ready to assist you with all your tax-related concerns.
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Understanding the IRS Substitute for Return
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
Substitute for Return ( SFR )
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
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Disclaimer: This is educational content, not legal, accounting, or tax advice.Â
