Unfiled Tax Returns Help – Understanding Taxes Video Vault

Unfiled Tax Returns Help

What do you do when you find yourself  in need of unfiled tax returns help because of many years of unfiled returns?

It's not all that unusual for people to give us a call and say they haven't filed tax returns in twenty years or more. In fact, I had a client who needed unfiled tax returns help since before I was born. That was four decades worth of returns!

It’s not all that unusual for people to give us a call and say they haven’t filed tax returns in twenty years or more. In fact, I had a client who needed unfiled tax returns help since before I was born. That was four decades worth of returns!

What we do is we have people file the last six years of returns. Why? Because under the Internal Revenue Manual 4.12.1, that’s all the IRS can demand that you file.

The criminal statue of limitations is six years, and so that’s all the IRS will ask you for.

If you can afford a full payment to pay your unfiled returns, by all means that’s what you ought to do. If you can’t afford to pay them, there are a few options that are available to you.

You could ask for hardship status, which is also known as Currently Not Collectible.

When this happens, the IRS actually agrees that you have no ability to pay and will put your account in a holding. Sometimes for many years and won’t ask you to pay anything.

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The other option you have is to file an Offer in Compromise. An Offer in Compromise is a deal where you will settle for less than you owe.

It’s a topic I cover here in another section of my Video Vault.

If you have unfiled tax returns, the worst thing about them is not knowing how much you owe, not knowing how bad it is. I've had many, many clients over the years, who found out it wasn't as bad as they thought.

If you have unfiled tax returns, the worst thing about them is not knowing how much you owe, not knowing how bad it is. I’ve had many, many clients over the years, who found out it wasn’t as bad as they thought.

There are options out there.

First, you have to get your unfiled tax returns prepared. If you have more than three years you can call the IRS and ask them to send you the transcripts. Or you can hire a rep like myself, and I can get all those for you.

My name is Darrin Mish, my phone number is (888) 438-6474.

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