866-700-1040

IRS & State Back Taxes + Unfiled Tax Returns | Settle Back IRS Taxes Debt + Los Angeles, Los Angeles & Orange County

by | Apr 17, 2018 | Back Taxes, Tax Help

 

Fresh Start Tax

We are an AFFORDABLE tax firm that can resolve your IRS OR STATE TAX problem, Since 1982. Call now 1-866-700-1040

 

IRS & State Back Taxes + Unfiled Tax Returns | settle Back IRS Taxes Debt + Los Angeles, Los Angeles & Orange County  SPECIALISTS & EXPERTS

We also worked as managers, supervisors and teaching instructors .

Not only did we work in the above aforementioned positions, we are also on-the-job trainers for new IRS employees.

We know all the IRS systems inside and out we have worked both sides of any IRS problem and know the protocols and methodologies to resolve any IRS matter.

If you Haven’t Filed Back Tax Returns, you are not alone the tax gap is $450 billion.

Over 16 million tax returns were not filed timely to the Internal Revenue Service last year.

The tax gap is a figure issue on taxes that should-be been collected if all tax returns were filed.

IRS is working hard to make sure all those with Unfiled tax returns are back in the system.

The IRS Cade 2 computer us working hard to close the tax gap which is currently $500 billion.

Also, please keep in mind if you don’t file your back tax returns IRS has the option of filing your tax return under 6020 B of the IRC. IRS will do you no favors in filing, you will pay the highest amount allowed by law.

 

Haven’t Filed Back Taxes, Tax Returns

 

Filing back tax returns is not an issue for our firm. We have prepared thousands of back tax returns with or without tax records.

There is a very systematic way to do this and it is called income tax reconstruction.

We take the methodologies learned at Internal Revenue Service and apply the best practice standards to go ahead and prepare your back tax return and make sure you pay the lowest amount allowed by law.

If you are going to owe money as result of your tax filing we can settle your tax debt as well.

On cases where taxpayers have received notices, we send IRS a power of attorney so you will never have to speak to IRS and we handle all the correspondence.

From there we go ahead and start the preparation of our tax return process by pulling IRS transcripts and any available records. From there, we submit the tax returns to IRS at the same time work out a remedy or solution if you’re go to owe back tax debt.

It is important for every taxpayer to know that if they are in a position where they haven’t filed back taxes that they start making estimate tax payments or creased or withholding to cover their new IRS tax debt. Internal Revenue Service wants to make sure future compliance is not an issue.

IRS Tax Debt Settlements, I am a former IRS agent and teaching instructors of the offer in compromise.

If you need to settle your tax debt with Internal Revenue Service, as a general IRS will want to current financial statement to make a determination.

You will need to do that on the IRS form 433A or 433F.

As a general rule upon your submission of your current documented financial statement,

IRS will either issue you went into:

1.currently not collectible file (hardship) or , CNC,

2. ask you for a monthly payment or installment agreement,

 

Many taxpayers are eligible for the offer in compromise program to settle their debt for pennies on the dollar.

Last year over 38,000 taxpayers settle their tax debt for an average of $6500 per case. Keep in mind that is just an average national average in your case is completely dependent on your current financial statement.

Before you file for offer in compromise it is wise to fill out the IRS pre-qualifier tool to make sure you were a viable candidate and don’t waste any money.

When you call our office we will be review with you the various examinations you have to completely and permanently remedy all your IRS tax problems once and for all.

If the IRS has filed a federal tax lien against you, when you call our office we will go over the different ways you may be able to release your federal tax lien.

The lien will stay on your record for 10 years from the date of assessment unless an offer in compromise was accepted or you got into an IRS payment agreement that met the qualifications.

We are a full-service firm that specializes in IRS tax relief.

With over 206 years of professional tax experience and over 65 years of combined work experience.

If you need to file tax returns, need an IRS tax settlement , need to work a payment plan, or if your experience a IRS tax hardship or need to get IRS levies and tax liens released call us today.

Call us today for a free initial tax consultation.

You will speak to a true IRS tax expert, since 1982.

We are fast, friendly, and Affordable professional tax firm.

IRS & State Back Taxes + Unfiled Tax Returns | settle Back IRS Taxes Debt + Los Angeles, Los Angeles & Orange County

FREE CALL CONSULT

Tax Relief Specialists – IRS Tax Debt Help – All Tax Services + Former IRS + Los Angeles County

by | Mar 29, 2018 | Back Taxes, California Tax, Tax Help

 

Fresh Start Tax

 

There are different Examinations to resolve Back IRS Problems if you owe back taxes, Since 1982, Former IRS Agents who Know the system.

 

Tax Relief Specialists – IRS Tax Debt help – All Tax Services + Former IRS + Los Angeles County

There are multiple solutions that you may be eligible for. We will review all examinations. We will walk through all the programs to see what programs you qualify.

 

FST, since 1982, Former IRS Agents,  A NATIONWIDE TAX FIRM

 

We are an Affordable professional tax firm that can offer you a free initial tax consultation and walk you through the process if you have a back balance due the Internal Revenue Service.

If you have balance due on back taxes and are looking to set up a payment agreement, file firm offer in compromise to settle your back tax debt or you need to file back tax returns call us today for a free initial tax consultation.

We have over 95 years of direct IRS work experience.

FST IRS Experience:

 

We have worked out of the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS Experts in the area of IRS tax settlement services.

How does IRS dispose of Tax Debt Cases????

 

The 5 basic ways or programs for IRS Tax Debt.

 

1. By Payment in full,

2. By smoothly Payments or installments,

3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)

4. By statue expiration. (this is how your completely eliminate the tax debt)

5. For those who cannot pay their debt IRS has a non-collectible or hardship program.

 

Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to resolve your back tax debt.

The most important aspect of working tax debt cases is completely dependent on the individual or business financial statements.It is the most important factor.

Your current documented financial statement determines all.

IRS uses a very simple formula to determine their settlement process.

It is all about your assets and your income and your current necessary living expenses. There is a very specific formula.

IRS only allows certain expenses that are considered necessary living expenses.

There are charts available on what IRS allows. Anything not on those charts are disallowed and this is what trips out most taxpayers.

A simple review of your current financial statement and we can let you know the different programs you may be eligible for.

 

You will need to complete form 433F or form 433A for us to make a current determination. IRS will only use their financial statements.

It is critically important to know that you cannot pay less taxes unless you qualify for the offer in compromise program.

IRS has a very specific formula that they use to compute the offer in compromise.

You must know the sy stem to have success.

The only way you can pay less tax is through the offer in compromise program. There is also an IRS pre-qualifier form.

I have over 40 years in this industry and it is critical if you want to settle your tax debt for the lowest possible amount you should go to true tax professionals.

Important information everyone needs to know.

All your tax returns will have to be filed before IRS will close any case, it is a must, we can complete all work in house.

 

If you need help with your tax preparation call us and we can have a staff of Experts accountants and tax preparers complete all returns with or without records.

Also beware that many times the Internal Revenue Service want to make sure you are current in your withholding tax or your estimate tax payments are they will not close your work your case until you become fully compliant.

Beware of IRS tax settlement services companies, and there are many.

We have been in this industry a long time there are many good companies in as many bad tax settlement service companies. For you to evaluate an IRS tax settlement service company you must ask to speak directly to the person who will be working your case. Generally the first person you speak to is a salesperson who has limited knowledge of IRS procedures.

So when you call a tax services company, you are speaking to what is called a closer.

That person is a salesman and will actually bill you and charge you for the services then your case gets passed down the line.

When you call fresh start tax, you will speak directly to the person who works your case and that person can give you a true evaluation on how and if IRS will accept an IRS tax settlement .

All IRS tax settlement service firms and companies are different.

Check out the BBB rating and make sure you have a true tax professional working your case.

I suggest you always hire someone who’s worked at the IRS because they are aware of the methodologies required to get your offer in compromise through the system.

Other ways to Resolve Back IRS Taxes Debt or tax problems:

 

As a general rule, you may apply for hardships, payment agreements or settle for an offer in compromise to settle your debt for pennies on the dollar.

We will review with you your financial statement and let you know what the lowest possible settlement IRS will accept. 40% of all persons that owe back taxes are issue into a hardship or are currently not collectible status and 6.5 million taxpayers enter into annual payment agreements.

With e programs you will not pay less tax. These programs are designed to keep IRS off your back.

The other way to pay less tax is for the ten-year statute of limitation to run out and your debt will be written off by the Internal Revenue Service.

If you want to file an offer in compromise I thought you’d like to know what the statistics are.

Last year over 78,000 offers in compromise/IRS tax debt settlement were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Approximately 40,000 taxpayers last year paid less tax.

At the current time there are 7500 cases in the offer queue. The average wait time is nine months. There are not enough IRS employees to work the current inventory.

Keep in mind this is a national average in your case is completely dependent on your individual financial statement.

We will not file for an offer in compromise unless you are a true candidate for the program.

There is a pre qualifier tool to find out if you are a settlement candidate for income or business tax debt.

Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.

Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.

There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.

There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance.

 

Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

 

There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlement s.

The Offer in Compromise and the New Fresh Start Tax Initiative

 

If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

The IRS spends a lot of due diligence before they accept an offer in compromise.

It is possible for the IRS to spend over 20-40 hours working an accepted offer in compromise.

IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.

You want to make sure you are accurate and truthful on your financial statement.

The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.

This FS new policy does not apply to current year tax returns if there is a valid extension on file.

When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances:

• Ability to pay,

• Income,

• Expenses; and

• Asset equity. All assets including pension’s an IRA’s

IRS will generally approve an offer in compromise when the amount offered represents the most they can expect to collect within a reasonable period of time.

Right now that is appox. 9 months

Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.

Before IRS can consider your offer, you must be current with all filing and payment requirements.

You are not eligible if you are in an open bankruptcy proceeding.

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submit your offer in compromise to settle your tax debt on back IRS taxes.

You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option on an IRS offer settlement

 

Your initial payment will vary based on your offer and the payment option you choose:

• Lump Sum Cash:

Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.

• Periodic Payment:

Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer.

If accepted, continue to pay monthly until it is paid in full.

If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.

Understand the process to settle your tax debt on an IRS settlement .

 

While your offer to pay less taxes is being evaluated:

• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Call us today for a free tax consultation, 1-866-700-1040

 

Tax Relief Specialists – IRS Tax Debt help – All Tax Services + Former IRS + Los Angeles County

How to File Back Tax Returns and Settle with the IRS

by | Oct 30, 2013 | Back Taxes

Fresh Start Tax
 
How to File Back Tax Returns and Settle with the IRS
Yes, you can file all your back tax returns and settle with the IRS all at one time.
There is a process and system.
Being Former IRS agents, managers and IRS tax instructors we know the systems and process.
Millions of taxpayers have not filed back tax returns there is an easy way to get back into the system and settle your case with the Internal Revenue Service.
Do not let fear control the situation, you can move through this process by using former IRS agents, managers and tax instructors who know the system to get you permanent tax relief.
How to File Back Tax Returns (if you have your tax records )
If you have all your back tax documents just go ahead and file all back tax returns at one time with the Internal Revenue Service. There is nothing wrong with putting them all in the same envelope in forwarding to the service center closest to your location.
 
How the file back tax returns ( if you have no tax records)
If you do not have your back tax records or have scattered records you should know that the Internal Revenue Service keeps on their computer system the last seven years worth of income documents they have received from third parties.
These documents include W-2s, 1099s, and reports from other third parties showing the income you have received through them. Through the process of tax reconstruction,  being former IRS agents we can reconstruct your back tax returns. We simply will average your past expenses and come up with the duplication or approximation of your back tax returns. This is a very simple process and we have internal forms that can help you through this.
If you do not file your back tax return IRS can file for you
Many people are unaware that under 6020 B of the Internal Revenue Code, IRS can prepare your back tax returns. It is not in your best interest for this to happen.
IRS will give you no deductions, no expenses only figure out raw income with the standard deduction,  you will pay the highest amount allowed by law. If IRS’ has already done this to you understand that you can file for audit reconsideration.
 
The General Process of Settlement
In all cases in which monies are owed to the Internal Revenue Service, the IRS will want a current financial statement. You will have to complete tax form 433-F, 433-A depending where your case is  within the IRS system.
The Internal Revenue Service will then analyze your current financial statement and apply the national standardized expenses along with that and come up with a proposed way of settling your case.
IRS settlements can be in the form of your case being currently not collectible, or economic tax hardship. It could be the IRS will insist on a monthly installment or payment arrangement, or the IRS will let you know that your suitable candidate for an offer in compromise or a tax debt settlement.
IRS accepts 38% of all offers and compromised filed
 
Settle with the IRS
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.IRS  consider your unique set of facts and circumstances:
1. Ability to pay;
2. Income;
3. Expenses; and
4. Asset equity.
The IRS will generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
If you hire a tax professional to help you file an offer, be sure to check his or her
qualifications.
Are you eligible to settle with the IRS

Before we can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
 
Submit your offer in compromise.

You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer package will include:
1. Form 433-A (OIC) (individuals) or
2. 433-B (OIC) (businesses) and all required documentation as specified on the forms;

  • Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
  • $150 application fee (non-refundable); and

Initial payment (non-refundable) for each Form 656.
 
Select a payment option to settle with the IRS

Your initial payment will vary based on your offer and the payment option you choose:
Lump Sum Cash:
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
 
Periodic Payment:
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the process of settlements
While your offer is being evaluated:
Your non-refundable payments and fees will be applied to the tax liability. designate

  • A Notice of Federal Tax Lien may be filed;
  • Other collection activities are suspended;
  • The legal assessment and collection period is extended;
  • Make all required payments associated with your offer;
  • You are not required to make payments on an existing installment agreement; and
  • Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

 
Contact us today to learn more about filing your back tax returns and settling with the IRS all at one time. We are a national tax firm that specializes in all IRS and state tax matters, problems and resolutions. We are A+ rated by the Better Business Bureau.
 

Have Not Filed Back Tax Returns in Years – Call Us – Ft.Lauderdale, Miami Affordable Experts

by | Oct 9, 2013 | Back Taxes, Tax Relief

Fresh Start Tax
We are a local  South Florida tax firm that specializes in AFFORDABLE IRS representation.
If you have not filed your back tax returns in years, we can file all your back tax returns and work out a payment agreement or tax settlement with the Internal Revenue Service.
If you are going under a current economic tax hardship the IRS may be able to place your case into a currently non-collectible status if you qualify.
The process is simple and worry free
I am a former IRS agent in teaching instructor who worked out of the local South Florida offices. Our firm has over 206 years professional tax experience, over 60 years of working directly for the Internal Revenue Service and we have worked right here out of the local South Florida IRS offices as agents, managers and tax instructors.
If you have not filed your back tax returns you are not alone. There are millions upon millions of taxpayers who failed to file their back tax returns but by not doing so taxpayers do themselves harm.
Problems for Non-Filing
1. criminal problems,
2. losing their Social Security and Medicare benefits while others are
3. actually losing money the IRS would be refunding to you because of withholding in tax credits.
 
The process to get your back tax returns filed with the Internal Revenue Service is very simple and if you’re reading this you’ve already taken the first step to make that happen.
If you need to file back income tax returns but you have lost your tax records, a good tax firm should easily be able to assist you in this process.
As a former IRS Agent, while with the IRS, we were flooded with this request from scared taxpayers just wanting to do the right thing, but not sure on just how to do it.
Here is how the process of filing your back tax returns works.
1. The taxpayer/business/corporation  should to the best of their ability reconstruct what they think their tax earnings were for each year. They can do this simply by using a monthly average for each of the years.( both income and expense averages)
As an example, how much was one month of your rent or mortgage, your car expenses, your food, your insurance etc. Arrive at a monthly figure and multiple it by 12. As a general rule your rent or mortgage is usually about 28% -33%monthly expenses.
2. If you have bank statements, what were your total deposits for the year?.  That maybe a start of your income.
3. Call the IRS and ask them for an income report record of all third parties that have reported to the IRS. By calling the IRS and asking for income transcript that does not alert the Internal Revenue Service.
They simply have a process to forward you all your income information without learning any agent to pick up the phone and call you. Thousands of requests come in every day so do not expect to be a target of the call.
The IRS keeps on their computer system a list of all third party sources that have reported 1099’s, W-2’s other persons or companies required to report your incomes.
The IRS will send this to you within a couple weeks of your request.
4. Ask yourself, does this tax return make sense? If it does not make sense to you it probably will not make sense to the IRS.
5. The Internal Revenue Service will want to make sure your financial fact patterns tie together.
They want to make sure your bank statements, your tax returns, your financial statement, in your cost-of-living all have a pattern.
Simply by backing up into your cost of living one can simply find out how much income you need to pay those expenses.  If your bank statements do not equal your total income found on your tax return there should be a good and reasonable explanation why.
The IRS knows how much it costs to live in each area of the country. There are national averages at can be found on the IRS website.
The tax return must reflect your living style and conditions over the period of time in which you are filing.
It is always best to let a professional tax firm handle this situation. The professional firms know the standards and the methods used by the IRS and if you owe tax, they can probably work out a tax settlement as well.
Not sure if you were suppose to File?
If you are not sure you are required to file a return, refer to Publication 17, Your Federal Income Tax. If you are required to file a return, but you cannot pay all of the tax due on your return, FST can be able to assist you with establishing a payment agreement or tax settlement.
If your tax return was not filed by the due date (including extensions of time to file), you may be subject to the failure to file penalty, unless you have reasonable cause for your failure to file timely. You may be eligible for abatement of penalty relief.
There is no penalty for failure to file if you are due a refund.
But, if you wait to file a return or otherwise claim a refund, you risk losing a refund altogether.
An original return claiming a refund must be filed within 3 years of its due date for a refund to be allowed in most instances.
You can lose possible tax refunds and believe it or not millions of taxpayers leave thousands of dollars on the table.
After the expiration of the three-year window the refund statute prevents the issuance of a refund check and the application of any credits, including overpayment of estimated or withholding taxes, to other tax years that are underpaid. You can never recover this money.
The statute of limitations for the IRS to assess and collect any outstanding balances does not start until a return has been filed. The normal  statute of limitation on collection cases is 10 years from the original date of assessment.
There is no statute of limitations for assessing and collecting the tax if no return has been filed. There is also no statute for fraud.
Contact us for a free initial tax consultation and we can help you through this process.
We can file all your back tax returns for the years you have not filed back tax returns and workout tax settlement if you are going to owe money.
Stop the worry and call us today.
 
Have not filed Back Tax Returns in Years – Call Us – Ft.Lauderdale, Miami Affordable Experts

Have Not Filed Back Tax Returns in Years – Here is what to do, Former IRS on your Side

by | Oct 9, 2013 | Back Taxes, Tax Returns

Fresh Start Tax
Have Not Filed Back Tax Returns in Years – The process is simple and worry free
We can file your back tax returns and make a settlement with the IRS at the same time.

I am a former IRS agent in teaching instructor. If you have not filed your back tax returns you are not alone. There are millions upon millions of taxpayers who failed to file their back tax returns but by not doing so taxpayers do themselves harm.
 
Some taxpayers can find themselves having:

  • criminal problems,
  • losing their Social Security and Medicare benefits while others are
  • actually losing money the IRS would be refunding to him because of withholding in tax credits.

 
If you have not filed your back tax returns in years there is a very specific process that you can walk through to get you back in the system worry free.
Millions of taxpayers do not file their back tax returns but at some point in time IRS will catch up with all these non-filers.
You need to find IRS before they find you to keep away from the any criminal problem the IRS may consider.
The process to get your back tax returns filed with the Internal Revenue Service is very simple and if you’re reading this you’ve already taken the first step to make that happen.
If you need to file back income tax returns but you have lost your tax records, a good tax firm should easily be able to assist you in this process.
As a  former IRS Agent, while with the IRS, we were flooded with this request from scared taxpayers just wanting  to do the right thing, but not sure on just how to do it.
Here is how the process of filing your back tax returns works.
1. The taxpayer should to the best of their ability reconstruct what they think their tax earnings were for each year. They can do this simply by using a monthly average for each of the years.
As an example, how much was one month of your rent or mortgage, your car expenses, your food, your insurance etc. Arrive at a monthly figure and multiple it by 12. As a general rule your rent or mortgage is usually about 28% monthly expenses.
2. If you have bank statements, what were your total deposits for the year? that maybe a start of your income.
3. Call the IRS and ask them for an income report record of all third parties that have reported to the IRS.
The IRS keeps on their computer system a list of all third party sources that have reported 1099’s or W-2’s. The IRS will send this to you within a couple weeks of your request.
4. Ask yourself, does this return make sense?
5.  The Internal Revenue Service will want to make sure your financial fact patterns tie together.
They want to make sure your bank statements, your tax returns, your financial statement, in your cost-of-living all have a pattern. Simply by backing up into your cost of living  one can simply find out how much income you need to pay those expenses. Make sure all of this ties together.
The IRS knows how much it costs to live in each area of the country. The tax return must reflect your living style and conditions over the period of time in which you are filing.
It is always best to let a professional tax firm handle this situation. The professional firms know the standards and the methods used by the IRS and if you owe tax, they can probably work out a tax settlement as well.
Not sure if you were suppose to File?
If you are not sure you are required to file a return, refer to Publication 17, Your Federal Income Tax. If you are required to file a return, but you cannot pay all of the tax due on your return, FST can be able to assist you with establishing a payment agreement.
If your tax return was not filed by the due date (including extensions of time to file), you may be subject to the failure to file penalty, unless you have reasonable cause for your failure to file timely. You may be eligible for abatement of penalty relief.
There is no penalty for failure to file if you are due a refund.
But, if you wait to file a return or otherwise claim a refund, you risk losing a refund altogether. An original return claiming a refund must be filed within 3 years of its due date for a refund to be allowed in most instances.
 
You can lose possible tax refunds
After the expiration of the three-year window, the refund statute prevents the issuance of a refund check and the application of any credits, including overpayment of estimated or withholding taxes, to other tax years that are underpaid.
However, the statute of limitations for the IRS to assess and collect any outstanding balances does not start until a return has been filed.
In other words, there is no statute of limitations for assessing and collecting the tax if no return has been filed.
Contact us for a free initial tax consultation and we can help you through this process.
We can file all your back tax returns for the years you have not filed back tax returns and workout tax settlement if you are going to owe money.
 
Have Not Filed Back Tax Returns in Years – Here is what to do, Former IRS on your Side