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  • Writer's pictureBruce Earle

Are your overdue taxes stopping you from sleeping at night?

The last 6 months since Omicron and the winter cold and flus hit us have been extremely hard for a lot of our clients - not to mention the last few years of Covid!

Recently, IRD have started chasing clients more for any overdue 2021 tax returns, and for 2022 tax returns for clients without tax agents or extension of time.

Over the years we have built up a specialty in working with clients who have overdue taxes, some with 5 or 6 years of overdue tax returns. By using the latest technology we’re able to quickly process transactions and present multi-year reports and tax returns.

It’s no use trying to hide - overdue tax returns don’t just go away. The best approach is to own the problem and work to get it resolved. We find that it becomes a three-step process:

  1. Complete and file all the overdue tax returns, including Income Tax, GST and PAYE etc. That must be done so we know how big of a problem we’ve got to deal with

  2. Working with IRD on a repayment proposal. With new legislation in place because of Covid, IRD now have more flexibility than they’ve ever had. Payment plans may include lump sum, regular payments, and sometimes even some debt write offs

  3. Making sure the problem doesn’t happen again. In many ways this is almost as important to IRD as getting the returns filed and paid. There’s not much point in going to all that effort if we’re going to end up back in the same place in a year or so

Contact us now and we can start working with you to help you get your taxes back on track. We offer simple, common sense and yes sometimes blunt advice. We’re capable of helping clients remotely so we can help you no matter where you are!

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