Small Business Tax Savings Podcast

Filing Your Taxes LATE? IRS Penalties, Payment Plans & Relief


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If youā€™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 trackā€”without fear.

Chapters:

(00:26) Falling Behind on Taxes Happens
Mike shares a common fear of business owners who havenā€™t filed in years and feel buried in penaltiesā€”but thereā€™s a way out.

(02:30) Not Filing is a Crime
Robert 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 Canā€™t Pay)
Filing and paying are separate. Filing your return stops criminal penaltiesā€”even if you donā€™t have the money yet.

(06:30) Penalties vs. Interest: Why Filing Matters
Not 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? Thereā€™s Help
If your records are missing or a mess, a CPA or forensic accountant can help you recreate whatā€™s needed to get back on track.

(11:33) IRS Payment Plans + the 10-Year Rule
The IRS offers payment plans and even settles for less in some cases. But you must stay compliantā€”your debt can go away after 10 years if you do.

(23:58) Why You Donā€™t Want to Owe the IRS
The IRS is more aggressive than banks. They can seize wages and assets without going to courtā€”and their customer service is notoriously bad.

Guest: Robert Nordlander, CPA ā€“ https://www.nordlandercpa.com

Find Robertā€™s Books:Ā 

  • Criminal Tax Secrets: What Every Defense Attorney Should Know
  • Unpaid Payroll Taxes: A Time Bomb You Can Defuse
  • Erase the Penalty: A Tax Professional's Guide to Abatement


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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

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šŸŽ™ ABOUT THE PODCAST


The 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.


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Small Business Tax Savings PodcastBy Mike Jesowshek, CPA

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