How Good People Solve Bad IRS Problems - Nick Nemeth - Manual / Resource - Page 21
End Your IRS Problems
time. It’s due by April 15th of the following tax year or,
if extended, it’s due by October 15th. It doesn’t matter
to the IRS if you’ve failed to file for one year -or ten. It
won’t be viewed any differently by them. After a point,
late is late.
The issue here is that you’ll owe more money in
penalties and interest the longer it’s been since you’ve
filed. Most taxpayers who find themselves in this
situation are never able to pay the total amount they
owe. (Don’t get hung up on how much you ‘11 owe.
We’ll deal with that later.)
First, you must prepare all unfiled tax returns and get
them filed with the IRS -as soon as possible. In most
situations, filing unfiled tax returns with the IRS will
reduce the likelihood of criminal prosecution.
How to File Unfiled Tax Returns
If you have some unfiled returns, you will want to get
back in the IRS system while creating the least amount
of attention. Here is what you need to do:
1.
File your next tax return on time. Make every
attempt to get it prepared and filed before the due
date. (You only have one chance per year or quarter
to file required tax returns on time.) Doing so
allows you to show the IRS that you have changed
your ways, and you are doing everything in your
power to start filing on time.
2. Retain a tax professional who deals with the IRS
every day to file all your unfiled tax returns. (You
can call my office for help with this.) Agree on
a fixed fee for each year -do not agree to pay an
hourly rate.
3. Request a tax organizer from the tax professional
for each untiled year. A tax organizer is nothing
more than a few pieces of paper that make it easier
for you to gather information about each untiled
year. Complete a tax organizer for each untiled
year. (Don’t stress over this tax organizer thing;
just do the best you can.) If you can’t locate the
information you need, then give your best guess
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