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- Accurate Tax Filing for Individuals & Businesses
20+ Years Experience
Enrolled Agent (EA)
Certified Tax Resolution Specialist
Published Author
Why People Fall Behind on Filing
It's rarely about intention. Life happens: job loss, divorce, medical crisis, business failure, or simple overwhelm from poor record-keeping. One year turns into two. Shame or fear keeps you from reaching out. And suddenly, multiple years loom like an impossible mountain
Here's what matters: You're thinking about it now. That's the first step. And we've helped dozens of people in your exact situation.
Common Situations We Handle
Self-Employed Business Owners
Years of unorganized income/expense records from running your own business. We sort through it all.
Multiple 1099 Income
Individuals with 1099s from various clients or gigs. We reconcile all income sources.
IRS Notice Recipients
Business owners facing IRS notices about unfiled returns. We respond and resolve.
Lost Records
People who lost records in a move or disaster. We reconstruct income from IRS transcripts.
The Statute of Limitations: Your Biggest Advantage
The IRS has a legal time limit to collect: the Collection Statute Expiration Date (CSED) is typically 10 years from assessment. After that, the IRS generally cannot collect. This doesn't mean you ignore debt, but in some cases, strategic planning around the statute is preferable to paying in full. We evaluate your situation and advise the best strategy.
New Jersey State Tax Rules
If you're a New Jersey resident, NJ filing requirements may differ slightly from federal. The NJ Division of Taxation has its own penalties and enforcement. We handle both federal (IRS) and state (NJ-TOD) filings as one integrated process to minimize your total penalty exposure.
We also keep track of various states across the country.
Our Tax Planning Services
Assess Your Situation
We review which years must be filed, your estimated tax liability, available records, and IRS notices. No judgment, just facts.
Gather Records
We organize income documents and expenses. If records are missing, we request IRS transcripts or reconstruct income.
Prepare in Sequence
Years must be filed in order (oldest first). This is critical for proper credit carryover. We handle the sequencing.
Strategic Filing & Negotiation
We file all outstanding returns and negotiate resolution if you owe. See resolution options.
Ongoing Compliance
Once current, we keep you compliant going forward through tax planning and timely filing.
What About Penalties & Interest?
The IRS charges failure-to-file penalties (5% per month, up to 25%) and interest (currently around 8% annually). These compound. However, we often negotiate penalty relief through reasonable cause claims. If you had medical hardship, death in the family, or legitimate confusion, we argue for abatement. The earlier you act, the fewer months of penalties accrue.
Why Choose Leonard Prather?
Multi-year compliance is Leonard's specialty. He's not a generalist. His 20+ years of accounting experience, combined with his Enrolled Agent and CTRS credentials, means he knows how to manage complexity, negotiate with the IRS, and structure your recovery. His location in Somerset, NJ means he understands New Jersey tax nuances.
Serving Somerset County & Surrounding Areas
Based in Somerset, NJ, we help clients locally and nationwide.
Hillsborough • Franklin Township • Bound Brook • Manville • Bridgewater • Raritan • North Plainfield • Watchung • Warren • Piscataway • New Brunswick
Frequently Asked Questions
The IRS statute of limitations is typically 6 years for unfiled returns. However, if you owe money, we may file all years to minimize penalties. If you're owed refunds, older years might not be worth filing. We'll assess your situation specifically.
We can work with incomplete records. The IRS has data on W-2s and 1099s you received. We request transcripts, contact prior employers, and reconstruct income from available sources.
Yes, failure-to-file penalties typically run 5% per month (up to 25%) of unpaid tax. But we often negotiate relief. If you had reasonable cause, the IRS may abate penalties.
Get Your Tax Issues Resolved Today
Contact LP Tax Services LLC for a confidential consultation. We serve Somerset County, NJ and surrounding areas.