subject: How To File Missing Taxes. [print this page] Will, a a plumber who worked for himself from Dallas did not file his tax returns. Last May, he lost his records in a flood, and had not found time to fret about it because his sub-contracting custom work was at last picking up. Luckily, the IRS had not appeared to notice, which gave Will an opportunity to ignore the his unfiled taxes completely.
Then, almost six months later, a notice from the IRS came in the mail. Will saw the letter and left it on top of the kitchen counter with plans to take care of it in a while. However, his wife was harassing him about finishing the garage and then a new customer needed her bathroom finished immediately, and shortly, the notice had been hidden under so many papers that it had been forgotten about, Will had other things to perform besides think about about his unfiled tax returns.
A number of months passed, and business was still going strong. Certified letters sent by the IRS began arriving again, but neither Will nor his wife had time to take a look at them. At one point, Will hired a bookkeeper to take care of things for him, but then didn't have time to keep track on any progress. The certified letters resumed and continued to be delivered, but Will did not know why this was happening since he had thought taken care of the nagging problem.
Finally, Will picked up a notice on a Saturday morning to find out what was going on. He was astounded to learn of the fact that IRS said he now owed them over $500,000 in taxes. He read and reread the letter several more times, but each time it said the same thing. Feeling depressed, confused, and humiliated, Will hid the letter in his workshop, hoping that his wife wouldn't find it before he had a chance to take care of it.
Because Will did not prepare and file his tax returns, the IRS filed his taxes for him and asserted he earned far more and owed more than he actually did. What Will didn't know however, was that he nonetheless still had a an opportunity to solve the problem. All of his missing books were able to be reconstructed so that his unfiled tax returns could be legally prepared by a genuine tax lawyer. This would allow his sum of taxes owed to be drastically reduced and he would have a probability to argue to lower the debt down based on his capacity to pay.
by: jamffyhnni
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