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:
James Robert Coleman, E.A., A.T.A.
'The Untouchables': How Columbia and N.Y.U. Benefit From Huge Tax Breaks The New York Times
These are the U.S. states where homeowners pay the most in property taxes—California isn't in the top 5 - CNBC
These are the U.S. states where homeowners pay the most in property taxes—California isn't in the top 5 CNBC
Spain charges pop singer Shakira with tax evasion for a second time and demands more than $7 million - The Associated Press
Spain charges pop singer Shakira with tax evasion for a second time and demands more than $7 million The Associated Press
Two measures passed to save money for Bedford County residents at Board of Supervisors meeting - WSET
Port St. Lucie lowers millage rate amid complaints over rising property taxes - WPTV News Channel 5 West Palm
Port St. Lucie lowers millage rate amid complaints over rising property taxes WPTV News Channel 5 West Palm
Intuit Pushing Claim That Free Tax-Filing Program Would Harm Black Taxpayers — ProPublica - ProPublica
Intuit Pushing Claim That Free Tax-Filing Program Would Harm Black Taxpayers — ProPublica ProPublica
Hunter Biden in GOP's crosshairs again as tax panel sets vote on disclosing more confidential info - POLITICO
Hunter Biden in GOP's crosshairs again as tax panel sets vote on disclosing more confidential info POLITICO
Two Promoters Charged in Alleged Nationwide Illegal Abusive-Trust ... Department of Justice
South Texas county orders deleted delinquent taxes reinstated and paid, including sheriff’s - Border Report
South Texas county orders deleted delinquent taxes reinstated and paid, including sheriff’s Border Report
Roofing company loses court fight over unpaid employment taxes Iowa Capital Dispatch
Spain charges pop singer Shakira with tax evasion for a second time and demands more than $7 million - ABC News
Spain charges pop singer Shakira with tax evasion for a second time and demands more than $7 million ABC News
Analysis | There's an Obvious Way Rishi Sunak Can Fix Inheritance ... The Washington Post
City taxes projected to drop (a smidge) for Mankato homeowners Mankato Free Press
This Is How Super-Healthy Americans Plan Their Taxes Yahoo Finance
Ohio lawmakers take aim at growing property taxes The Highland County Press
Efforts to eliminate grocery tax stall despite bipartisan support Muskogee Daily Phoenix
How do Roth IRA taxes work? USA TODAY
13-Minute Gulfport Council Meeting on Taxes and Budgets The Gabber Newspaper
Taxes and a new school Boothbay Register
Columbus Township parcel fetches $103K at tax sale timesobserver.com
Deadline for Pittsburgh Mills Mall owners to pay millions in taxes, avoid sheriff’s sale looms - WPXI Pittsburgh
Deadline for Pittsburgh Mills Mall owners to pay millions in taxes, avoid sheriff’s sale looms WPXI Pittsburgh
City Council approves tax increase in Naples for 2024, despite ... Naples Daily News
Win for Taxpayers in Transition Tax Case Would Cast 'Cloud of ... - Thomson Reuters Tax & Accounting
Win for Taxpayers in Transition Tax Case Would Cast 'Cloud of ... Thomson Reuters Tax & Accounting
Watch Out New York – New Jersey Wants Its Taxes Too! - Employee ... Mondaq News Alerts
East Cleveland development project triggers excitement and ... News 5 Cleveland WEWS
Get ready for tax year 2023 now TheStreet
Board Prepares To Set Property Taxes | Webster Kirkwood Times ... Webster-Kirkwood Times, Inc.
Will You Owe Taxes When You Sell Your Home? Morningstar
Fulton board to consider tax breaks for data center, housing projects - The Atlanta Journal Constitution
Fulton board to consider tax breaks for data center, housing projects The Atlanta Journal Constitution
Your Property Taxes With Cook County Treasurer Maria Pappas Village Free Press |
FTC Warns Tax Preparation Companies About Misuse of Consumer ... Federal Trade Commission News
Pilot program to help out long term residents with property tax ... WRTV Indianapolis
Grocery sales tax break is missing some consumers – Tennessee ... Tennessee Lookout
38 States That Don't Tax Social Security Benefits The Motley Fool
Man buys 58 properties in Luzerne County delinquent tax auction The Times Leader
Countries Can Tap Tax Potential to Finance Development Goals International Monetary Fund
2023 Senior Tax Freeze application deadline fast approaching ... Philadelphia Water Department
Let’s Focus on Property Tax Solutions, Not Political Soundbites Flathead Beacon
Median Household Income After Taxes Fell 8.8% in 2022 U.S. Census Bureau
St. Pete Beach Discusses Loud Music, Budgets, and City Manager The Gabber Newspaper
Two Tax Shelter Promoters Found Guilty in Billion-Dollar Syndicated ... Department of Justice
These are the U.S. states with the highest property taxes—New York and California aren't in the top 10 - CNBC
These are the U.S. states with the highest property taxes—New York and California aren't in the top 10 CNBC
How AI will impact the tax profession Thomson Reuters Tax & Accounting
Gloucester County residents to vote on proposed tax increase bond referendum 13newsnow.com WVEC
California Companies Defer Billions in Taxes, Interest-Free, as ... The Wall Street Journal
QCDs: A Tax Break Worth the Hassles - WSJ The Wall Street Journal
A guide to: Sales and use tax returns efficiency Wolters Kluwer
California Democrats misfired by taxing guns and ammo Los Angeles Times
FASB Unanimously Votes to Finalize Proposed Disclosure Rules on ... - Thomson Reuters Tax & Accounting
FASB Unanimously Votes to Finalize Proposed Disclosure Rules on ... Thomson Reuters Tax & Accounting
Property tax bills arrive next month. Here is what's new Fort Worth Report
Virginia sports betting tax revenue doubles year over year 13newsnow.com WVEC
Optimize Your Taxes With These Two Common Strategies Kiplinger's Personal Finance
Tax Take: A Roller Coaster Week Ahead - Tax Authorities - United ... Mondaq News Alerts
Northwest Arkansas sales tax revenue rises 5.68% in September ... talkbusiness.net
Hinds Tax Collector's Office to reopen Tuesday WAPT Jackson
Trump advisers plot aggressive new tax cuts for second White ... The Washington Post
Know A Tax Cheat? Get Paid To Tell The IRS
According to the IRS, taxpayers underpay their taxes by some $300 billion. If you know someone that is contributing to that deficit, the IRS may be willing to pay you up to $10 million for the information you provide.
The Seven Deadly Tax Sins: Commonly Missed Deductions
It's that time again, the April 15 tax deadline is looming large. If youre like most people, you havent gathered all of your tax records, let alone filled your return.
Estate Taxes - It Pays to Plan Ahead
Estate taxes. It's not enough to simply know they exist, and to know strategies to minimize them.
Understanding Marketing Tax Deductions
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services.
How to Donate Your Car to Charity and Get Tax Deduction
Donating your used car to charity is a win-win situation; the charity gets your gift and you get tax deduction. Below are some simple steps to make a car donation.
Your IRS Tax Appeal Rights
Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review your case.
IRS Certifies 2006 Toyota Hybrid for Clean Fuel Deduction
The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2000 on Form 1040.
Euro Tax Haven Threat
Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete.The July directive requires banks throughout Europe, including low and no tax areas such as Gibraltar, Monaco, Malta and Andorra, to disclose bank account owner information to their home country's tax authority.
The means and types of businesses have transformed with advent of era of e-commerce, resulting in global seller and buyer. The Internet offers consumer choice, business efficiency and recreation.
Tax Jokes and Quotes
Do you realize that some tax forms ask you to check a box if you are BLIND?Quote: "Two years ago it was impossible to get through on the phone to the IRS. Now it's just hard to get through.
Amending Procedural Laws for Collection of E-taxation
The electronic transaction ordinance defines the certificated copies in which are to be presented for adjudication. Where any law requires or permits the production of certified copies of any records, such requirement or permission shall extend to print outs or other forms of display of electronic documents where, in addition to fulfillment of the requirements as may be specified in such law relating to certification, it is verified in the manner laid down by the appropriate authority.
How To Get An Instant Pay Raise
As a gentleman was leaving my class recently, he wanted me to clarify something I had said. He was making sure that he should take his four or five thousand dollar tax refund and pay off debt.
Home Based Business Tax Deductions
Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.
Small Business Tax Credit - Americans with Disabilities Act
Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset the costs.
How To Get An Extension To File Your Business Tax Returns
Yes, the tax season is upon with the first filing date for some businesses being March 15, 2005. If you can't imagine getting your tax returns together by that date, you need not worry.
Tax Tips - Which Tax Form Is Right For Me?
IRS Tax forms can be confusing.Am I a 1099 or a W-2.
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from those properties impacts your taxes.What Constitutes Revenue?Generally, rental income is defined as any revenue you receive from the occupancy or use of residential property.
Insider Guides to IRS Audits!
Ever wish that, as a business owner, you knew exactly what would raise "red flags" at the IRS? Or how to make an IRS audit go as smoothly and painlessly as possible?If you're in the right type of business, you can get that information, directly from the IRS!Traditionally, IRS examiners have been responsible for auditing many types of businesses. An examiner might audit a grocery store one week and a construction company the next.
Gambling Income and Expenses - Tax Requirements
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos.
Getting A Second Extension to File 2004 Taxes
Millions of people file tax return extensions every year. The tax filing deadlines can rush up on your quickly.
|home | site map|