I Havent Filed a Tax Return with IRS in Years, What Do I Do? > NetSparsh

Home
>
Tax
>
I Havent Filed a Tax Return with IRS in Years, What Do I Do?

I Havent Filed a Tax Return with IRS in Years, What Do I Do?

In elementary school, kids come up with creative excuses why they did not bring in their homework. "My dog ate it" or "It was stolen by invisible space aliens" might be given as a reason why something was not turned in on time. Don't try those excuses with the IRS! Don't blame divorce, business failures, or family troubles either, because except under extreme circumstances, they won't register with the taxman.

If you have unfiled tax returns, you need to file at least the last 6-7 years. Although under law IRS could make you go back and file that return from the late 1970's when you were a disco diva or urban cowboy, the good news is that as a matter of policy they don't! In most cases, filing the last 6-7 years will be OK and IRS will consider you in compliance. So don't procrastinate any further, file the returns if you made over the standard deduction and personal exemption amounts during those years or were self-employed.

People delay filing returns for 3 main reasons:

1. They are afraid or embarrassed;

2. They have lost the records or don't know where to go to get the returns done; or

3. Some crackpot advised them income taxes are bogus and that they don't have to file.

Don't be afraid of filing, be afraid of what will happen if you don't file. IRS could file for you and you might owe more than if you would have done it yourself or IRS could send somebody out looking for you. It is not a crime to owe IRS money, it can be a crime under some circumstances for not filing a tax return or a false return.

If you lost your records relax, in most case you can get all your income data from IRS so that you can prepare the tax returns. If you had deductions, you may have to dig those up and organize your records.

IRS is a legitimate government agency and they can and do enforce the laws on filing a Federal Tax Return. It sounds good when somebody says IRS is a fraud, but it is a lie. We all have to pay taxes.

If you havent't filed in years you can call the IRS at 1-800-829-1040 and after lots of time on hold and maybe a few transfers, you will eventually get somebody who can help you get your W2 info mailed to you. Your local library may have old tax forms and tax books to help you do the returns. You can do it yourself, but I suggest getting a professional to help you.

Don't go to some guy or gal advertising on TV with a big company. Go to a professional person or small firm where you can talk one on one with a CPA, Enrolled Agent, or Tax Attorney. It doesn't have to be a local person, you could hire someone across the country. With email, fax, etc. you can avoid some embarassment of going to a local tax pro if you live in a small town by hiring someone far away. But don't hire somebody without checking them out. Read any contract they send you. Don't part with your hard earned money unless you are sure of their qualifications.

Members of the following organizations must adhere to high ethical standards and might be a good choice for you: National Society of Accountants (NSA); National Association of Enrolled Agents (NAEA); or the American Insitute of Certified Public Accountants (AICPA). You might also look for professionals holding the Accredited Tax Preparer (ATP) or Accredited Tax Advisor (ATA) designation.

Don't let your cousin Jimmy do your returns or that nice neighbor who says he is an expert. I have seen more screwed up returns done by friends and relatives than I care to remember.

Get peace of mind, file those returns. You may owe money but you may have a refund waiting. Guess what, if you file the return more than three years after the due date; you lose the refund!

Here are some sites that can give you more info:

www.irs.gov
www.naea.org
www.nsacct.org
www.exirsman.com

James Robert Coleman, E.A., A.T.A.
Enrolled Agent & Accredited Tax Advisor
Member: National Association of Enrolled Agents
Former IRS Revenue Officer, GS-11
http://www.exirsman.com

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Hastings Tribune
Slow start in Louisiana's latest special session on taxes
Hastings Tribune
BATON ROUGE, La. (AP) — With time growing short to reach a deal, the Louisiana House got off to a slow start Tuesday in the latest special session on taxes, with no votes on tax bills and a rehashed debate over budget issues from prior sessions. The ...

and more »

Italy's Taxes Drive Economy Underground
Seeking Alpha
Italy's problem, similar to many of its southern European neighbors, is an oppressively high tax burden, irresponsible welfare programs that encourage high measured unemployment and increase the debt, and high levels of regulation. Consider Italy's ...

Vox
To stop endless war, raise taxes
Vox
The economist Adam Smith recognized how war taxes curbed the public's appetite for war hundreds of years ago. Observing the variation in how European governments paid for the wars of the 1600s and 1700s — debt or taxes — he wrote: “Every new tax is ...

Barron's
Paradise or Money Pit? What You'll Pay in Taxes When Buying a Home Abroad
Barron's
Glynna Prentice can list a number of reasons why she loves her refuge in the highlands of Guanajuato, Mexico. The home's two-story glass walls offer mountain views, it's in an artist community, and is a three-hour flight from Los Angeles. And there's ...

Tax Foundation
Are Sugar-Sweetened Beverage Taxes Regressive? Evidence from Household Retail Purchases
Tax Foundation
Taxes on sugar-sweetened beverages are proposed with the promise to improve public health outcomes, but they come with equity concerns because of their regressive nature. We use Nielsen consumption data to explore the relationship between ...

USA TODAY
Planning a move? By 2021, these 8 states will have no income tax
USA TODAY
Without beating around the bush, let me just say what's on all of our minds when it comes to taxes: They stink! No one likes preparing their taxes or handing over their hard-earned money to Uncle Sam. It is, however, a necessary thing we do as working ...

Stanly News & Press
Homeowner owes 10 years back taxes on dilapidated home
Stanly News & Press
The owner of 608 Summit Ave. in Albemarle asked city officials in May to spare his house from demolition so he could fix it. The house was originally put on the city's demolition list in 2016, and has been below minimum housing standards for several ...

MyAJC
Court rules airport shop operator need not pay Clayton property taxes
MyAJC
The Georgia Supreme Court ruled Monday that Clayton County cannot receive property taxes from concessions at Hartsfield-Jackson International Airport, a decision the could cost the county millions. The unanimous ruling said operators of shops and ...

and more »

BBC News
The NHS, taxes and that 'Brexit dividend'
BBC News
"It is our firm intention to reduce taxes on British businesses and working families." Page 14 of the Conservative Party's 2017 manifesto is clear and could have come straight from the pen of Philip Hammond. The chancellor, those close to him repeat, ...
Theresa May Could Fund the NHS Without Breaking Her Tax PromisesBloomberg
June 18, 2018 - TwitterTwitter

all 33 news articles »

Illinois News Network
Rural Illinois power plant has higher tax bill than Disneyland, Willis Tower
Illinois News Network
A plot of land in rural northern Illinois has the highest property tax bill in the United States outside of New York. Assessed at $546 million, Exelon's Byron Nuclear Generating Station was charged $36.5 million in property taxes in 2017. That's a ...

Google News

I Havent Filed a Tax Return with IRS in Years, What Do I Do?

Tax Tax