Quick Answer:
If you haven’t filed taxes in years, the fastest way to get compliant in Lake Norman, NC is to gather all your tax documents, request missing records from the IRS and NCDOR, prepare accurate returns for each year, and work with a licensed tax professional to submit them properly. Acting quickly can prevent or reduce penalties, interest, and potential collection actions.

Why Unfiled Taxes Are a Bigger Risk Than You Think

Ignoring unfiled tax years doesn’t make them go away. In North Carolina, both the IRS and NCDOR can pursue you for unpaid taxes—often with severe penalties. In Lake Norman, that can mean wage garnishment, bank account levies, and tax liens that can affect your credit and property.

The IRS has no statute of limitations on unfiled returns. That means your tax debt will follow you indefinitely until it’s addressed.

Step 1: Find Out What You Owe and to Whom

Before you can file, you need to know exactly what years are unfiled and whether you owe both the IRS and NCDOR.

Here’s how:

  • IRS Transcripts: Request wage and income transcripts from the IRS to see what was reported under your Social Security number.

  • NCDOR Records: Check your state tax account or request filing history from the North Carolina Department of Revenue.

Polaris Tax & Accounting can obtain these records for you and identify any discrepancies or missing information.

Step 2: Gather and Reconstruct Missing Documents

Missing W-2s, 1099s, or expense records? That’s common, especially if it’s been years since you filed. We can reconstruct your income and deductions using:

  • IRS-provided income transcripts

  • Bank and credit card statements

  • Prior-year tax software data (if available)

  • Business accounting records

Step 3: Prepare and File Your Back Returns Correctly

The IRS will often file a Substitute for Return (SFR) if you don’t file, but these are never in your favor—they omit deductions and credits.

Filing accurate returns for each year can:

  • Reduce the tax assessed

  • Remove IRS-prepared SFR penalties

  • Qualify you for deductions and credits you’re entitled to

Step 4: Address the Balance You Owe

If you owe taxes after filing, you have options:

  • Installment Agreement: Pay the balance over time

  • Penalty Abatement: Request removal of certain penalties

  • Offer in Compromise: Settle for less than you owe (if you qualify)

  • Currently Not Collectible: Pause IRS collections due to financial hardship

Step 5: Avoid Falling Behind Again

Once you’re caught up, we help you stay compliant with:

  • Year-round IRS tax monitoring

  • Ongoing bookkeeping and accounting

  • Proactive tax planning to minimize future bills

Why Work with Polaris Tax & Accounting in Lake Norman, NC?

We are licensed to represent you before the IRS and NCDOR, meaning we can:

  • Communicate directly with tax agencies on your behalf

  • Stop aggressive collection actions while we resolve your case

  • Ensure every return is accurate and optimized for your situation

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Don’t wait for the IRS or NCDOR to act first. The sooner you address unfiled tax returns, the more options you have.

Schedule a confidential consultation with Polaris Tax & Accounting today to start resolving your back taxes—before they turn into bigger problems.