The IRS Doesn’t Give You Credit for What You Don’t Report

Here’s the hard truth: If you paid for something that should’ve been deductible—but it never made it into your books—guess what? It doesn’t appear on your tax return either. It’s like buying groceries but leaving the bags at the store. You still paid for it… but you don’t get to eat. When your bookkeeping is sloppy or behind, you’re leaving money on the table—money that could’ve lowered your taxable income, reduced your self-employment tax or kept you in a lower tax bracket. This is especially true if you’re dealing with delinquent tax returns residents often face—unreported deductions can cost you more than you think.

Even If You’re Behind, You Can Catch Up—and Save

Delinquent Tax Returns near me Chandler AZ

I hear it all the time: “I’m too far behind! It’s too late!” Wrong.

At LBS Tax, we help our clients stay up-to-date at all times. Whether you’re a few months behind or a few years behind, you can still:

Reconstruct records
Identify missed deductions
Clean up categories that were coded incorrectly (yes, that “meals” category from 2022 matters!)

We’ve helped clients lower their tax bills by thousands—after they thought their return was complete. In one case, a client’s “equipment purchases” were hiding in their personal bank account. Once we sorted it out, they shaved $8,000 off their net income. That’s not a small win.

Another client, whose wife was handling the books, had overstated their income, which cost them $20,000 in extra taxes.

Need help catching up on your Delinquent Tax Returns?

Reach out to LBS Tax Services—we’re ready to get you back on track with confidence!

You Don’t Need Fancy. You Need Accurate.

This isn’t about spreadsheets that sparkle or QuickBooks dashboards with 12 colors. It’s about knowing:

What came in
What went out
Where it went
And whether it should’ve been expensed, depreciated, or flagged for review

Solid bookkeeping tells the real story of your business—and a good tax pro (like us 😉) can use that story to make sure you only pay what you owe. Not a penny more.

Want to Lower Next Year’s Tax Bill? Start Now.

We get it. You’re busy. You’re doing the work of three people. You might even be nervous about what we’ll find. But guess what? That’s precisely why you need help. Because bookkeeping isn’t just about “getting caught up.” It’s about getting ahead. Let’s talk. We can help you clean up the past and build a system that supports your growth.

Need help catching up on your Delinquent Tax Returns?

Reach out to LBS Tax Services—we’re ready to get you back on track with confidence!

FAQs About The IRS Doesn’t Give You Credit for What You Don’t Report

What happens if I forget to report deductible expenses on my tax return?

At LBS Tax Services, we emphasize that unreported deductions mean missed tax savings. The IRS only credits what’s reported, so forgetting expenses can result in paying more taxes than necessary.

Can I still fix my tax returns if I’m behind or have unreported deductions?

Absolutely. Whether you’re months or years behind, we help reconstruct records, identify missed deductions, and file amended returns to recover possible refunds or reduce your tax liability.

Why is accurate bookkeeping so important for tax savings?

Good bookkeeping tracks what came in, what went out, and ensures expenses are properly classified. This accuracy lets us maximize your deductions and keep your tax bill as low as legally possible.

How does LBS Tax Services help with Delinquent Tax Returns Chandler AZ clients often face?

We specialize in helping clients get current with the IRS by cleaning up records, identifying overlooked deductions, and guiding you through the filing process so you avoid penalties and interest.

What should I do now to lower next year’s tax bill?

Start by organizing your financial records and maintaining accurate bookkeeping. We recommend reaching out early to review your accounts, so you can plan and maximize deductions well before tax season.