| If you haven't filed a tax return in a while, you may be | | | | strict time limits for statute of refunds, audits and |
| wondering what options you have. It is in your best | | | | collections. You should also know that if you owe |
| interest to file those back tax returns as soon as | | | | taxes for other years, the refunds may be taken to |
| possible. You might be surprised to learn that filing back | | | | offset those other debts. |
| taxes may be the simplest way to get out of your tax | | | | Step Four |
| problems. You do however need to protect yourself | | | | Deal with the tax debt that is owed. You should have |
| and have a plan. | | | | a plan for how you will pay off your tax debts. You will |
| Step One | | | | also need a plan to protect yourself from IRS |
| Gather all of your information for each year you failed | | | | assessments, levys, liens and seizures. This will usually |
| to file a tax return. Research thoroughly any missing | | | | require an experienced professional to help you |
| information to be sure the return you file is correct. Do | | | | resolve these issues. Your plan could be as simple as |
| you have your W-2's, 1099's, and mortgage interest | | | | setting up a monthly payment plan or writing a check |
| statements? Many taxpayers with unfiled back tax | | | | for the full amount. Regardless of your situation, you |
| returns have lost their tax records. You may contact | | | | need a plan, because ignoring the IRS can get you in |
| the IRS to request a wage and income transcript. This | | | | trouble fast. |
| transcript will give you the wage and income | | | | Step Five |
| information you're missing. If you were self employed | | | | Plan ahead. If you found yourself owing in past years, |
| you may need to work with an accountant to help | | | | you should do some tax planning for the current year. |
| determine estimates for you. | | | | You should adjust the withholding in your paycheck by |
| Step Two | | | | completing a new W-4. If you make estimated tax |
| Filing your past due IRS returns. The question needs to | | | | payments they should be adjusted to fulfill your tax |
| be asked whether to file your IRS back taxes yourself | | | | liability. |
| or hire a professional. If you decide to do it yourself be | | | | Helpful Hints |
| sure to use reliable tax software. You should also plan | | | | 1. Filing back taxes can not be done electronically. |
| on spending two to three hours on each tax year. On | | | | These returns will have to be mailed to the IRS service |
| the other hand, hiring a tax professional may not only | | | | center. You may also choose to deliver them to a |
| help you prepare for filing back taxes but also deal | | | | local IRS office. |
| with the IRS for you. | | | | 2. Mail each back tax return in separate envelopes. |
| Step Three | | | | 3. Mail the back tax returns via certified mail so you |
| Protect your refunds. You need to know there are | | | | receive proof of IRS receipt. |