Years of Unfiled taxes in [5 steps]

Описание: This is the process of how you file your back taxes when you have years of unfiled back taxes. #unfiledtaxes #delinquenttaxes #unfiledtaxreturns.

The very first step is to gather all of your records directly from the IRS. We do this on behalf of our clients because I am a power of attorney on behalf of them, so I do all the communication, all the negotiating on behalf of my clients. But when you're trying to gather this for you, it's something that you could do yourselves. The best way is to sign up with an irs.gov account, and that way you have everything at the touch of your fingertips.

Another route is to call the IRS and get verbals, but sometimes there might be miscommunications or sometimes the IRS is so lazy, they give you the wrong information, or they just... It's pretty bad, so we want to back it up with something in writing and the transcripts are the best.

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The second thing, when it comes to years of unfiled taxes is we want to review year-by-year of when there is a filing requirement when you have to file, and in order to get the filing requirement, year-by-year, the IRS has something called a Publication 17. Publication 17, there's an issue for every single tax year, so the 2022 Publication 17 has information on tax year 2022, and you have to go backward on each and every year in order to find out if you do have a filing requirement.

Now this next step is only required if you have balances due with IRS in collections. You would want to reach out to collections and let them know that you're going to be filing all of your taxes. What the collections department should do is give you some time to get the tax filings in and to call back for an appropriate tax relief solution to be submitted. This step is important. That way there's no collection activity occurring against you.

Next is you want to review your records year-by-year to see if you qualify for any type of write offs, deductions, and credits. That way you minimize any type of taxes you have due to the IRS, and you maximize your tax savings year-by-year.

And once we have everything, we have the IRS transcripts, we have the filing requirements for each and every year, contact with the collections, your write offs year-by-year broken down, the fifth step is we break it down and we file the tax returns for you. And we draft them up to see if it makes sense to submit or not. Compare it to what any type of tax relief programs are there. Whether you're required to file six years, 10 years, or even further if necessary.

And once you have your tax returns drafted, the next step is to submit them and wait for the IRS procedure in order for all of them to get processed with the IRS.

And if you want to learn the IRS procedure, how your back taxes are processed and filed, check out my next video.