| Never send the IRS your unfiled tax returns. | | | | worse, the rejection of your newly filed |
| Why? Filing them without knowing your | | | | return. |
| collection and return status could be costly. | | | | |
| | | | So be prepared to discuss your current |
| If you've filed all your previous returns and | | | | financial situation. It's best to have your |
| don't owe any money, and you can full pay any | | | | income and expenses on a monthly average |
| balance shown on this return, then you can | | | | basis calculated already. |
| file it now without a problem. | | | | |
| | | | Getting your record of account to verify what |
| If there are other years not filed and you | | | | is under your social security number will not |
| owe on any of them, or you owe on past years, | | | | alert the IRS that you are delinquent. |
| you should find out your current status with | | | | Knowing your current status with the IRS |
| the IRS collection division before filing. | | | | concerning your filings and payment history |
| You or your power of attorney should get your | | | | is essential. |
| record of account for many prior years. | | | | |
| | | | When you are ready to file your unfiled |
| The record of account will show the charges | | | | returns and you are missing information, you |
| and payments to each year. It will also show | | | | can request a record of information sent to |
| if you filed or the IRS filed a return for | | | | the IRS from third parties. This includes |
| you. If any of the years indicate that you | | | | W-2'S, 1099'S, K-1'S, etc. You are also |
| didn't file, the a return needs to be filed. | | | | allowed to estimate amounts that you can't |
| But... WAIT... Not Yet. | | | | calculate. There is an art to preparing |
| | | | unfiled returns. Make sure you have help from |
| If you have any unfiled returns that show up | | | | a tax preparer experienced in this area. I |
| on your record of account, your payment plan, | | | | have made corrections to many poorly prepared |
| if you think you have one, is invalid! Make | | | | returns that would probably have caused an |
| sure you are able to discuss how you will | | | | IRS audit. |
| make payments to pay off all of the | | | | |
| outstanding balances. The trick is to get all | | | | In conclusion... Do not file any unfiled |
| delinquent liability years included under one | | | | personal income tax returns without first |
| agreement. This will stop future collection | | | | requesting a record of account from the IRS |
| action, assuming you file and pay your taxes, | | | | and making sure that you understand what has |
| and make your monthly payment on time. | | | | been filed, if the IRS filed it, and how you |
| | | | are going to present your arguments for |
| Calling the IRS will also determine if they | | | | paying back the liability. |
| are in the process of preparing a return for | | | | |
| you. If so, they will have a special address | | | | You probably want to consult an expert |
| for you to send the return to. This will | | | | advisor before you take any action in |
| prevent you from having to undo it later. Or | | | | thesematters. |