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

  • Apr 9 2025
  • Length: 36 mins
  • Podcast

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

  • Summary

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    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 Happens
    Mike 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 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 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 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? There’s Help
    If 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 Rule
    The 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 IRS
    The 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.com

    Find Robert’s Books:

    • 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

    Join TaxElm: https://taxelm.com/

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    🎙 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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