09/03/2026
The IRS is issuing an CP59 Notice to taxpayers who show earned income for a specific tax year, but have not filed a tax return.
DO NOT THROW THE LETTER TO THE SIDE AND FORGET ABOUT IT‼️
You need to file your taxes asap to avoid a hefty failure to file penalty.
👉🏾 The penalty applies to individuals and businesses that fail to file forms including, but not limited to Form 1040, U.S. Individual Income Tax Return and Form 1120, U.S. Corporation Income Tax Return.
The penalty is 5% of the tax due for each month or partial month the return is late. The penalty accrues up to a maximum of 25%. 🤯
👉🏾 The penalty doesn’t apply if you can show the failure was due to reasonable cause (death, illness, natural disaster, system issues, etc).
Lack of knowledge and funds DOES NOT qualify as valid reasons for failure to file or pay your taxes on time.
If you need immediate assistance with tackling your past due tax obligations, Top Tier Refunds can help!
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