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