Educational Tax Tip: Why Filing Late Can Trigger an IRS Substitute for Return (SFR) Faster Than You Think

Have you ever wondered what happens if you delay filing your tax return for too long? The Internal Revenue Service may prepare a Substitute for Return (SFR) on your behalf using income information reported by third parties, such as W-2s or 1099s. This typically happens after multiple notices and can begin as early as 6 months after the filing deadline.  These IRS-prepared returns typically do not include deductions, credits, or your correct filing status, which often results in a higher tax liability than you actually owe. Once an SFR is processed, the IRS can begin collection actions much sooner, making it more difficult to resolve your case. 

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