I haven’t filed taxes in five years- I want to make it right. What will the IRS do to me?
January 25, 2009 by Tax Blog
Filed under Questions & Answers
Bill D asked:
Any tax attornies out there? I haven’t filed taxes in five years. I think I owe about $25,000. Whats the best course of action? Can I negotiate it down? I had a nervous breakdown about 2 years ago and gave about $30,000 away to the homeless (the actual homeless, not documented homeless charities). Unfortunately that was the money I had planned to pay the IRS with. I’m trying to rebuild my life and I’m afraid to go to the IRS on my own. Any suggestions?
Any tax attornies out there? I haven’t filed taxes in five years. I think I owe about $25,000. Whats the best course of action? Can I negotiate it down? I had a nervous breakdown about 2 years ago and gave about $30,000 away to the homeless (the actual homeless, not documented homeless charities). Unfortunately that was the money I had planned to pay the IRS with. I’m trying to rebuild my life and I’m afraid to go to the IRS on my own. Any suggestions?
tonalc1 on Tue, 27th Jan 2009 6:15 am
It’s best to work with an attorney on this. You will have to pay back taxes plus penalties. I doubt if you’ll do any jail time.
puzzled_abt_1099vsW2 on Fri, 30th Jan 2009 4:22 pm
Do you owe money on your taxes ? If yes, consult an attorney.
If no, then go ahead and file and you may get a welcome check in the mail.
Linda C on Sat, 31st Jan 2009 4:07 am
You definitely need to consult a professional. You can go to an attorney, a CPA or an Enrolled Agent (EA). Any would be able to help you.
Enrolled Agents are tax professional enrolled to represent clients before the IRS. The National Association of Enrolled Agents has a website that can help you locate an EA in your area.
There are ways to reduce your taxes or pay them over time. You have a very sticky situation that needs to be handled carefully.
Good Luck!!
Linda
dt on Sun, 1st Feb 2009 6:06 pm
hire a savage attack dog tax attorney and tell him or her they can keep any of the 30k for themselves if they settle your case with the IRS. Get with it!