Learn These Tricks To Filing Unfiled Irs Taxes.
Will, a a plumber who worked for himself from Houston didn't file his tax returns. Last May, he lost his records during a flood, and had not found time to stress about it because his sub-contracting work was finally 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 it and left it on the kitchen counter with plans to take care of it in a while. However, his spouse was nagging him about finishing work in the garage after which a fresh customer needed her bathroom finished immediately, and soon, the letter had been covered under a lot of papers that it had been forgotten about, Will had other things to accomplish besides worry about his unfiled tax returns.
A couple of weeks went by, and business was still going strong. Certified correspondence from the IRS began arriving again, but neither Will nor his wife had time to look at them. Finally, Will hired a bookkeeper to take care of things for him, but then didn't have time to keep good track of the progress. The certified letters resumed and continued to be delivered, but Will did not know why this was happening since he had believed to have taken care of the problem.
Will eventually got an opportunity one Saturday morning and went to the post office to pick up one of the notices. He was astounded to learn that he now owed over $750,000 in back taxes as per the IRS. After re-reading the notice, a horrible apprehension started to sink in and he felt miserable, guilty, and bewildered. Will hastily hid the letter in the basement so that his wife would not see it before he had a possible opportunity to fix the crisis.
Since Will had repeatedly neglected to prepare and file his tax returns, the IRS filed his tax returns for him and asserted he owed a lot more than he actually did. However, Will still had a an opportunity to solve the problem. With a assistance tax help, his unfiled tax returns would be able to be officially prepared by a real tax lawyer and his missing books and records could be reconstructed. This made it possible to greatly reduce his total taxes owed and he might even be able to argue to lower his debt based on his limited capacity to pay.