Frisco Back Taxes and Late Filing

Problems That Followed You Here

Many Frisco tax problems began somewhere else: a return not filed in the state you left, stock income reported twice, or a business that grew faster than its bookkeeping. BOMCAS works with Frisco clients remotely to correct them.

The Texas back taxes page explains penalties and disclosure programmes in general; here are the issues that follow people to Frisco.

Residency Audits

States such as California and New York audit people who move to Texas, especially those with high income or large sales near the move. They may claim you remained a resident. The evidence includes where you lived, worked, kept your family, held licences and spent your time. We help gather records and prepare responses.

Missing State Returns

People who moved mid-year sometimes skip the part-year return in their old state, or fail to report stock vesting there. Remote workers for out-of-state employers may have withholding in the wrong state. Filing the missing returns and claiming refunds where too much was withheld clears this up.

Stock Errors

RSU and ESPP sales reported with the wrong basis can cause IRS notices or overpaid tax. We correct the basis and file amended returns within three years of the original filing to get refunds.

Cryptocurrency

Crypto trades, staking rewards and payments are taxable, and returns ask about digital assets. From 2025, brokers report sales on Form 1099-DA. People who did not report past transactions should amend those returns.

Estimated Taxes

Self-employed people and those with large stock sales often owe estimated taxes and are hit with underpayment penalties. We calculate the penalty, check whether an exception applies and set up estimates going forward.

Clubs and Nonprofits

Nonprofit clubs that fail to file Form 990 for three years in a row lose their exemption automatically. They can apply for reinstatement, sometimes retroactively. Missing filings with the Texas Secretary of State or franchise tax reports also need attention.

Hosts Who Never Filed Hotel Tax

Hosts who rented rooms or homes directly to guests, without a platform collecting tax, may owe Frisco and Texas hotel tax for past stays. Filing the missing returns and paying the tax, ideally before the city or Comptroller contacts you, usually limits the penalties.

Missing 1099s

Clubs and small businesses that paid coaches, referees or contractors without issuing Forms 1099-NEC face penalties per form, which increase the longer the forms are late. Filing them as soon as possible reduces the penalty, and collecting W-9s avoids backup withholding problems.

Practices and Businesses

Growing practices and companies sometimes miss franchise tax reports, sales tax returns or payroll filings. Late franchise tax reports carry penalties, and continued failure leads to forfeiture. We file the missing reports and restore good standing.

Notices From the IRS

Many Frisco clients first hear of a problem through an IRS CP2000 notice, which proposes extra tax when income reported by employers or brokers does not match the return. Stock sales with a zero basis and missing 1099s are the usual causes. The notice has a response deadline, and a well-documented reply often reduces or removes the proposed tax. Ignoring it turns the proposal into an assessment.

Our Steps

Pull IRS, state and Comptroller records.
Identify missing and incorrect filings.
Prepare and file them.
Request penalty relief.
Arrange payment if needed.
Set up systems to avoid repeats.