File your missing tax returns in 5 easy steps
Writen by Sergio Melendez | Last updated 12/04/2024
Have years of unfiled taxes?
This is the process to get your prior years taxes filed, even if you do not have your income records
#01: Get Your IRS Transcripts
The IRS has reported Wages & Income from 3rd party sources
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 verbal wage & income transcripts, however, there might be miscommunications or sometimes the IRS agent might be lazy or incompetent, and give you the wrong information. It's pretty bad, so we want to back it up with something in writing and the transcripts are the best.
#2 Do you even have to file?
There is a minimum threshold to file a tax return
The second thing, when it comes with 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 Publication 17 or Pub 17 for short. Pub17 is issued for every single tax year, so the 2023 Publication 17 has information on tax year 2023, and you have to go backwards on each and every year in order to find out if you do have a filing requirement.
#03 Contact IRS Collections
If you have prior balances, contacting collections to advise tax returns are being filed helps stop collections
The third 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.
#04 Review your Credits, Deductions & Write offs
Minimize the taxes on all back taxes!
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.
#05 Drafting the Tax Returns
The final step is drafting the tax returns with all the information:
IRS Wages & Income
Your Credits, Deductions & Write Offs
The tax returns that are drafted are then evaluated whether it makes sense to submit to the IRS for processing. If there are balances owes, then we also need to evaluate & compare the types of tax relief programs are there.
To submit the tax returns for processing, we review your personal situation & whether you're required to file six years, 10 years, or even further if necessary.
Need help filing your back taxes? Let’s review which years you need to file! We offer a free case review
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