Catching Up on the Border
Missed filings in El Paso often involve forms people did not know they needed: a Form 5471 for a Mexican company, an FBAR for an account in Juárez, a New Mexico return for a job across the state line or export records for sales that were never taxed. Others are familiar problems, such as franchise tax reports that stopped or returns missed during a deployment. BOMCAS helps El Paso clients sort out what is missing and file it in a sensible order, remotely.
Texas penalties and voluntary disclosure are on Texas back taxes and late filing; here are the El Paso gaps we see.
Missed International Forms
Penalties for missing Form 5471, Form 3520 or FBAR filings can be large even when no tax is owed. Taxpayers whose failure was not wilful may be able to use the IRS streamlined procedures, file delinquent information returns with a reasonable cause statement, or file late FBARs through the delinquent FBAR procedure when all income was reported. The right path depends on the facts, so we review them before anything is filed.
Export Sales Without Proof
A store or distributor that treated sales to Mexican customers as exempt but did not keep export certifications or shipping proof can be assessed tax on those sales in an audit. Some missing proof can still be obtained, and voluntary disclosure before the Comptroller makes contact can waive penalties. We reconstruct the export records and estimate the exposure.
New Mexico Returns
Residents who worked in New Mexico and businesses with projects there sometimes never filed New Mexico returns. New Mexico may assess tax using withholding and employer reports. Filing late returns usually reduces the balance and stops the notices. We prepare the missing New Mexico returns with the federal ones.
Deployment Years
Soldiers deployed to combat zones have extra time to file and pay, usually 180 days after leaving the area plus the time that remained when they entered it, and penalties and interest do not run in that period. Notices that ignore the extension can be corrected. We prepare the returns and include the service information.
Forfeited Companies
An LLC or corporation that stopped filing franchise tax and information reports can have its right to do business forfeited, which affects contracts, bank accounts and the ability to sue. We file the missing reports and request reinstatement, or close the entity properly if it is no longer used.
Payroll Tax
Employers who missed payroll deposits face trust fund penalties that can reach the owners personally. TWC also assesses estimated tax for missing reports. We reconstruct payroll and file the missing Forms 941 and TWC reports, then ask for penalty relief where it is available.
Rental Property in Mexico
El Paso residents who rent out a house or apartment in Juárez or elsewhere in Mexico sometimes leave the rent off their U.S. returns for years. Amended returns can report the rent with depreciation and a credit for Mexican tax paid, which often reduces the U.S. balance considerably. If the related bank account was never reported on FBAR, the amended returns and the late FBARs are usually filed together under one of the IRS relief procedures.
Unpaid Property Tax
Property tax unpaid after January 31 builds penalties and interest quickly, and delinquent accounts in El Paso County are often sent to collection attorneys, adding a further fee. Homeowners who are 65 or older, disabled or disabled veterans may be able to defer collection on their homestead. Business owners with unpaid personal property tax should deal with it before selling the business or its equipment.
Our Steps
- Pull IRS transcripts and Texas and New Mexico account records.
- Identify missing international forms.
- Rebuild records and export documentation.
- File with penalty relief requests where appropriate.
- Arrange payment and a routine.
El Paso Back Taxes and Late Filing Questions
I never filed FBARs for my Mexican accounts. What now?
If the failure was not wilful, the streamlined or delinquent FBAR procedures may apply. We review the facts first.
Can we still prove export sales from past years?
Sometimes, by obtaining shipping or customs records. Voluntary disclosure may help with penalties.
I worked in New Mexico but never filed there. Is that a problem?
New Mexico may assess tax from employer reports. Filing late returns usually reduces the balance.
Are penalties waived for deployed soldiers?
Combat zone service extends the deadlines, and penalties and interest do not run during the extension.
Talk to BOMCAS About Back Taxes and Late Filing in El Paso
Once current, bookkeeping, payroll and export and sales tax records keep you there, while business and personal returns return to a normal schedule. A plan reserves cash, and cross-border tax covers the international forms. Our state pages on business returns, individual returns, sales tax, bookkeeping, payroll, planning and international filings explain the Texas rules away from the border, and the Texas overview summarises them.
Tell BOMCAS about your El Paso company or household and we will explain what we would do first and which papers would let us quote. Reach us through the contact page or the form below, call 780-667-5250 or email info@bomcas.ca. Every El Paso service is on the El Paso overview. This page offers general information only, not advice for your case.