| Filing back taxes will likely be a bit difficult and to | | | | can file tax returns for you AND help settle taxes |
| ensure it is done properly there are a few guidelines | | | | owed. Otherwise, the process becomes delayed and |
| you should follow. You have taken the initial step | | | | you will usually not obtain the best outcome because |
| towards resolving your unfiled back taxes just by | | | | the services are being broken out between two firms. |
| reading about it. If you do not file, you will continue to | | | | 3. Get the Tax Company you are Working with to File |
| experience many IRS problems. People who think the | | | | Back Taxes |
| Internal Revenue Service won’t figure out they did | | | | You only have to prepare back tax returns for the last |
| not file, they are wrong. Ignoring the IRS or failing to file | | | | seven years. Your tax expert will contact the IRS to |
| unfiled returns will lead to the IRS taking forced | | | | let them know you will be filing back taxes. Once the |
| collection actions against you. | | | | returns are filed, you will be back into normal standing |
| | | | with the Internal Revenue Service. There will be fees |
| 1. Gather Documentation | | | | from using a tax professional but overall these |
| Obtain copies and relevant documentation in | | | | charges are worth it because of the savings and the |
| preparation to fill out tax returns. If you fail to complete | | | | confidence things were done correctly. After you file |
| a tax return, the Internal Revenue Service will | | | | your tax returns you will know how much you owe |
| complete a "Substitute Return" which will count as tax | | | | the IRS. |
| returns for the years not filed.. If the IRS has submitted | | | | 4. Know your Options when it Comes to Paying your |
| a return under your name, you will need to amend their | | | | Tax Debts |
| return with the assistance of a tax professional to | | | | Next if you can’t pay the tax amount owed to the |
| lower your tax bill. Their Substitute Return tax return is | | | | IRS immediately, then you can work with your tax |
| not advised because they will not give you any | | | | negotiation firm to find the best way for you to reduce |
| deductions which will end up in you owing more taxes. | | | | and settle tax amounts owed to the IRS. In some |
| If you don’t have relevant paper work, it is good to | | | | cases, you can submit an Offer In Compromise (OIC), |
| contact the IRS or your employer or former employer | | | | however, this option is only available if the IRS is |
| to try to obtain relevant tax information. To file or | | | | unsure your liabilities are correct, or they don't think you |
| amend a filing you need W-2’s as well as other | | | | can pay--it is rare to get an Offer in Compromise |
| documents supporting any deductions you claim. IRS | | | | approved. If your tax professional feels there is no |
| form 4852 can be used to substitute W-2’s if you | | | | way to reduce your tax debt, and you can’t pay |
| cannot obtain from the IRS or employers. | | | | the total sum immediately, then you can request a |
| 2. Contact and Hire a Tax Firm | | | | PPIA (Partial Payment Installment Agreement). PPIAs |
| Once you have all the tax filing information needed or | | | | come usually in a 60 month payoff term. If you owe |
| you need assistance acquiring the tax documents, | | | | more than twenty five thousand dollars, you will have |
| contact a BBB certified tax firm. When contacting a | | | | to submit IRS form 433F (Collection Information |
| tax expert it is best to work with a tax relief firm that | | | | Statement) , and IRS Form 9465 on your behalf. |