Unfiled Back Tax Returns – We can get you back in the system worry free – Former IRS Managers 1-866-700-1040
Get back in the system worry free with Former IRS Agents and Managers who know the system.
We can file all your unfiled, late, past-due and back tax returns and work out a tax settlement for you all at one time.
If you have little or no tax records that will not be a problem for us for we have reconstructed thousands of tax returns in our lifetime. The process is a simple one.
Call us today and we will go over the process and give you all the available tax options to you can get your life back in order worry and stress free.
Millions of people just like you want to get back into the IRS system but do not know what to do.
Taxpayers are worried and frightened that they might be in serious trouble however the IRS is happy to get you back into the system.
The best thing to do is to be proactive and file all of your back taxes before the IRS tells you to.
It is of utmost importance to know that each case is truly different and certain facts and patterns can drastically change the outcome and advice that you are given.
In some cases we file three years of back tax returns and another cases we may go back as many as six years , a lot depends on the facts and circumstances of your particular case.
The Process on Unfiled Back Tax Returns
There is a general rule of thumb that can be followed when filing back unfiled tax returns.
The place to start is to contact the IRS at the ASC Unit and ask for an income transcript on your social security number.
Let the IRS representative that answers the telephone know that you are looking for back income transcripts and want to file your back tax returns.
The IRS agent handling the case will give you a due date to file all unfiled back tax returns and send you an income transcript showing you all your income sources for the past six years.
From there you can start the process of filing or of tax reconstruction. Tax reconstruction occurs when you have little or no records to prepare your back on file tax returns.
As a side note
The IRS keeps income records for 7 years and will have on their transcripts of all income reported, 1099, w-2 or gambling winnings that are on file with third parties.
If you have no records to file unfiled back tax returns, you will have to prepare what is known as a cost of living analysis.
A cost of living analysis is a year by year analysis of your income and expenses.
Mock up instructions
Figure up what your average monthly expenses were for one month and multiple by 12 to come up with your annual total.
Also, add up the total of your bank deposits for that year to make sure they tie into your claimed income.
While this is not exact science, it serves as a beginning point to prepare your return.
The IRS will probably accept the tax return as is.
Tax tip on Unfiled Tax Returns
Anytime the IRS is looking at a tax return, for any year, they want to see a common cord through your claimed income. That means your bank deposits, cost of living and a financial statement for that year.
All of those should tie together. An example of this is as follows, if you are saying that you make $36,000 a year, your total monthly expenses should not exceed more than $3000.
If your total monthly expenses exceed $3000 a month that does not add up to the $36,000 a year you were showing on your tax return.
That would cause a red flag to go up by the Internal Revenue Service. Always remember the first place IRS looks to verify your income is in your bank statements.
If you will owe tax be prepared to answer this question, How are you and pay your back tax debt?
If you cannot pay your back tax bill as a result of the filing of your tax returns IRS will require you to fill out a current financial statement which will be on IRS form 433-F. IRS will then conduct a review of your income, expenses and any assets that you have and propose a solution to pay your back taxes.
Most persons in the situation will usually be put into three categories.
As a general rule if you are going through an economic tax hardship the IRS may place you into a current tax hardship.
IRS may ask that you enter into a installment payment.
IRS let you know that you are offer in compromise settlement candidate.
Contact us today and we can help file all your unfiled back tax returns and work out an effective tax settlement so you can go on and live a normal financial tax life.
We have over 60 years with the Internal Revenue Service and we are A+ rated by the Better Business Bureau. We’ve been in private practice since 1982.
Unfiled Tax Returns – Get Back in the system, Worry Free – Former IRS Managers
