If you haven’t filed back tax returns here is some advice about what to do. Stop the panic.
Before you start reading understand I’m a former IRS agent and teaching instructor and there is a very specific way to deal with this situation for those who haven’t filed back tax returns.
IRS deals with everything very systematically and there is a very seamless process to end your problem in a very short period of time.
The first thing you need to know is not to panic there is a system on what to do so if you have any questions you can call us today about how to deal with the situation. We have walked hundreds upon hundreds of taxpayers and clients through the situation.
If you have the tax records simply file your tax returns and have an exit strategy if you’re going to owe back taxes.
If you call our office we will let you know the different programs IRS has to deal with back tax debt.
If you need to get your back tax records because you’ve lost documentation you can simply ask IRS for tax transcript and you will provided all your income records for the past seven years.
With that in hand you will have an income base to prepare your back tax returns.
You can go ahead and use your bank accounts or credit cards to determine what your expenses are to offset income if you are a schedule C.
If you are simply a wage earner , IRS will provide for you your W-2s to prepare your tax return.
Whatever you do you don’t have to freak out. We can get you back in the system worry free.
If you were going to owe back taxes result of the filing , the Internal Revenue Service will ask for a current financial statements and make a determination on how they were close your case off the IRS enforcement computer.
As a general rule IRS were either place you went to a currently not collectible file, ask you to make monthly payments or you may be able to settle your tax debt through the offer in compromise program.
Call us today for a free initial tax consultation and we will walk you through the process for those who haven’t file back tax returns
