QUESTION

Filing tax returns

Asked on Oct 23rd, 2013 on Taxation - California
More details to this question:
Have not filed in 15yrs
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1 ANSWER

Anonymous, I have many current and past clients who had not filed tax returns in many years.  Generally, the following steps should be taken to resolving your tax case.  Of course, each case is different and you should consider retaining an experienced tax practictioner to represent you. 1.  Reach out the IRS and California's Franchise Tax Board (FTB) to attempt to obtain a collections hold to prevent collection activity like bank and wage levies.  While speaking with the tax agent, we request that your tax transcripts be faxed over to determine what tax information has been reported to the IRS and FTB.  Additionally, the transcripts will fill us in on any returns that were prepared by the IRS or FTB on your behalf and help determine if we need to file all, some, or none of the missing returns. 2.  The next step is to prepare and file the missing returns using the tax transcripts and any documents or information you may regarding your taxes. 3.  After the returns have been filed and processed by the IRS and FTB, there may be a tax liability.  If so, we evaluate options to repay or decrease the tax liability.  These options include installment agreements, hardship status, offer in compromise, and bankruptcy. If you would like to discuss your tax case in more detail please give me a call at 1-888-351-3707 or 619-591-9500. Best Regards, Adam
Answered on Oct 23rd, 2013 at 5:14 PM

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