Filing Your Taxes LATE? IRS Penalties, Payment Plans & Relief
Filing Your Taxes LATE? IRS Penalties, Payment Plans & Relief  
Podcast: Small Business Tax Savings Podcast
Published On: Wed Apr 09 2025
Description: Send us a text🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/If you’ve ever skipped filing a tax return or felt overwhelmed by back taxes, this episode is for you. Mike and Robert Nordlander, former IRS Special Agent, break down the real risks of not filing, the difference between filing and paying, and how to get back on track—without fear.Chapters:(00:26) Falling Behind on Taxes HappensMike shares a common fear of business owners who haven’t filed in years and feel buried in penalties—but there’s a way out.(02:30) Not Filing is a CrimeRobert explains that failing to file is a criminal offense, even if you're owed a refund. You could face jail time.(04:20) Filing Protects You (Even if You Can’t Pay)Filing and paying are separate. Filing your return stops criminal penalties—even if you don’t have the money yet.(06:30) Penalties vs. Interest: Why Filing MattersNot filing triggers a 25% penalty. Filing without paying is just 0.5% monthly. Filing first always puts you in a better position.(08:57) No Records? There’s HelpIf your records are missing or a mess, a CPA or forensic accountant can help you recreate what’s needed to get back on track.(11:33) IRS Payment Plans + the 10-Year RuleThe IRS offers payment plans and even settles for less in some cases. But you must stay compliant—your debt can go away after 10 years if you do.(23:58) Why You Don’t Want to Owe the IRSThe IRS is more aggressive than banks. They can seize wages and assets without going to court—and their customer service is notoriously bad.Guest: Robert Nordlander, CPA – https://www.nordlandercpa.comFind Robert’s Books: Criminal Tax Secrets: What Every Defense Attorney Should KnowUnpaid Payroll Taxes: A Time Bomb You Can DefuseErase the Penalty: A Tax Professional's Guide to Abatement-------Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings PodcastJoin TaxElm: https://taxelm.com/-------🚀 Visit:  https://www.TaxSavingsPodcast.com 🚀 Check Out TaxElm: https://taxelm.com/🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/🚀 YouTube: www.TaxSavingsTV.com👋🏼 GET IN TOUCHYou can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏🙏LEAVE A REVIEWIf you enjoy the podcast, we'd love for you to leave a 5-star review on Apple Podcasts or Spotify to help others discover the show ⭐ 🎙 ABOUT THE PODCASTThe Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies designed to help entrepreneurs and small business owners legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this podcast breaks down complex tax topics into clear, actionable, no fluff insights, so you can maximize your savings and keep more of your hard-earned money.a