The IRS expects most taxpayers to file their returns on time every year. When the tax season starts in January, you have close to four months to file and submit your returns well before the April 15 deadline.
However, when you failed to file your taxes for the last several years, you might wonder how much trouble you could possibly be in with the IRS and what it will take to remedy the situation. You can start by determining when you last filed your taxes and by manually filing late returns.
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DISCOVR THE DATES OF YOUR LAST TAX FILINGS
If you have not saved your tax records from years past, chances are you might not remember when it was exactly that you last filed. Rather than take a wild guess and risk filing a double return, you need to know for sure when it was that you last submitted a tax return to the IRS.
The IRS makes this process relatively simple by allowing you to research and order your tax transcripts on IRS.gov. You will be shown transcripts from the last years that you filed. You can also order copies of them if you would like them for your personal records.
The IRS does not charge taxpayers for their prior years' tax transcripts. The information you enter into the request form must match precisely the information recorded in the transcripts, however. If you enter the wrong address or wrong amount of earnings, the IRS could deny your request.
Once you request them, the transcripts will be mailed to your current address. You also could receive copies of them via email if applicable.
You should receive the copies of your last years' tax filings within six to eight weeks if you choose to have them mailed to you. Your transcripts will provide you with information from your last returns like:
how much income you claimed that year
your tax filing status
whether or not you were entitled to a refund
If you have not saved your tax records from years past, chances are you might not remember when it was exactly that you last filed. Rather than take a wild guess and risk filing a double return, you need to know for sure when it was that you last submitted a tax return to the IRS.
The IRS makes this process relatively simple by allowing you to research and order your tax transcripts on IRS.gov. You will be shown transcripts from the last years that you filed. You can also order copies of them if you would like them for your personal records.
The IRS does not charge taxpayers for their prior years' tax transcripts. The information you enter into the request form must match precisely the information recorded in the transcripts, however. If you enter the wrong address or wrong amount of earnings, the IRS could deny your request.
Once you request them, the transcripts will be mailed to your current address. You also could receive copies of them via email if applicable.
You should receive the copies of your last years' tax filings within six to eight weeks if you choose to have them mailed to you. Your transcripts will provide you with information from your last returns like:
how much income you claimed that year
your tax filing status
whether or not you were entitled to a refund
You should be aware, however, that the IRS may not necessarily be looking for you to file returns from the last five years if you are entitled to a refund during any of those years. In fact, if you choose to file returns from the last five years, you will only receive refunds from the past four years. The fact that the IRS may owe you money from the past five years essentially makes it not worth the IRS' time to track you down and demand that you file those returns.
However, if you do not file those returns, you will not receive credit for paying into Social Security. If you are nearing retirement and want full credit for every year that you worked and paid into the system, it would benefit you to file returns that you have missed within the last 20 years. The money that you paid into Social Security will then be credited to you for those years and counted when your future Social Security payments are determined.
FILING PRIOR TAX RETURNS
However, if you do not file those returns, you will not receive credit for paying into Social Security. If you are nearing retirement and want full credit for every year that you worked and paid into the system, it would benefit you to file returns that you have missed within the last 20 years. The money that you paid into Social Security will then be credited to you for those years and counted when your future Social Security payments are determined.
FILING PRIOR TAX RETURNS
The IRS encourages most taxpayers to file their returns electronically each year. Electronic filing is secure, fast, and reduces the likelihood of fraud.
However, if you plan to file missing returns from the last few years, you may not be able to use electronic filing. Instead, you may have to file them manually simply because the forms you need will no longer be available electronically.
You can find the forms you need on the IRS' website. You can also obtain them from your local library.
If you are not sure of what returns you need, it may be best that you hire a tax professional to assist you with filing your missing returns. Your tax professional can research your IRS tax records to determine for what years you need to file. He or she can also instruct you on what type of documentation, like income earning statements, proof of business expenditures, and receipts for other exemptions that you might need to file with your prior years' returns.
A tax pro likewise will know what forms you need to use and should have those forms on hand in the office. You will get credit for paying into the Social Security system and get caught up with all of your tax return filings by allowing a tax professional to assist you.
Forgetting or failing to file tax returns on time every year can compromise your good standing with the IRS. It also shortchanges you on your payments into Social Security. Rather than miss out on refunds to which you may be entitled as well as Social Security credits, you can get caught up with filing your returns by knowing for what years you need to file and by manually filing those returns as quickly as possible.
So, if you have IRS Problems, Owe Taxes, have Past Due UnFiled Tax Returns and need IRS HELP – Take action today! You should work with a nationwide tax relief firm. Call Advance Tax Relief (800) 790-8574
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.
Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.
Advance Tax Relief is rated one of the best tax relief companies nationwide.
Call our team today at 800-790-8574 for more information.
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