| Life can be busy and money is not always available | | | | over your old records, possibly even hire a tax |
| so it is not uncommon for a person to have failed to | | | | professional and file your old returns. Filing back taxes |
| file taxes at one year or another. This year however | | | | often provides relief of its own since you can make |
| is an optimal year to catch yourself up because the | | | | use of all the deductibles of which the government is |
| economic stimulus check can be used as back taxes | | | | not aware. |
| relief. If you owe money to the IRS that you simply do | | | | The IRS will at times create a proposed assessment |
| no think you have, then this is especially your year. This | | | | of your tax liability and attempt to send you notice of |
| windfall to get the economy going may be just the | | | | such. In the event that you do not file returns for the |
| incentive you need to get back on the good foot with | | | | year assessed, they will take their assessment as final |
| the IRS. You have to of filed for 2007 to get your | | | | and will have the next ten years to collect its total |
| stimulus check so take this opportunity to invest in this | | | | from you. Just as the IRS had ten years to collect any |
| stimulus check in paying back your taxes owed. | | | | formal tax liability, you have three years to collect your |
| The government has a ten year period to collect from | | | | outstanding refund. The best way to find relief is to file |
| you any taxes once the amount has been formalized. | | | | your taxes and do so within your own three year |
| A formal notice that you owe back taxes could be the | | | | deadline from their original due date to collect any |
| balance from taxes you filed that you were unable to | | | | refund before it expires. Any refund coming your way |
| pay in total, their numbers after an audit, or if you have | | | | when you file within the three year deadline will serve |
| allowed a proposed assessment become final on your | | | | as tax relief when it is automatically applied to an |
| taxes. Relief from the ominous wondering, should you | | | | outstanding balance of another return that is also within |
| have moved and not heard from them whether or not | | | | the three year deadline. As mentioned earlier you can |
| you owe may be found simply by calling the IRS and | | | | only get the economic stimulus check if you filed. Even |
| asking if you have any outstanding tax liabilities. They | | | | if you owe rather than have a refund, this stimulus |
| are legally required to share such information. Your | | | | check will be automatically applied to your taxes owed. |
| past employers will hold your W-2s for four years and | | | | So if you may not have received your stimulus check, |
| push come to shove the IRS has copies of your | | | | they have been applied against the back taxes you |
| information if you do not. Once you have the | | | | may have owed, which is a great thing because this |
| information and you do indeed have an outstanding tax | | | | means less penalties and interest in the future on |
| liability, your best bet at tax relief is to hunker down | | | | these unpaid back tax amounts. |