What should I do when filing for back taxes?
I have a friend that is needing to file about 5 years of back taxes and lost all his records (except bank statements as they are on file at the banks) in a house fire that took place late December 1year ago. What needs to be done to get this accomplished. He could enter all bank info for each month and approximate expenditures or should he just contact IRS Rep and try to do a blanket settlement?
Answered By: Mankus & Marchan, LTD
The IRS cannot and will not make a "blanket settlement" without the tax returns being filed. Your friend should prepare and file them based on available records. He should be careful, however, about claiming any deductible expenses that cannot be supported with evidence.
Answer Applies to: Illinois
Replied: 7/22/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Illinois
Replied: 7/22/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: The Schreiber Law Firm
The IRS does not do settlements unless all tax returns are filed first. He needs to get transcripts from the IRS showing the income made and taxes withheld to get the information to file returns.
Answer Applies to: California
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Steven J. Fromm
This situation needs to be handled carefully when there is a non-filing issue. Remember, non-filers can be subject to civil and criminal penalties in certain cases. Never go to the IRS until you have all your documentation in place. You or your friend need a good tax attorney to assist in the reconstruction of the tax posture and the negotiations with the IRS. Do not try to do this yourself especially with the strategies you are proposing. You are just asking for trouble. Retain a good tax attorney to assist you and your friend.
Answer Applies to: Pennsylvania
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Pennsylvania
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: David Hoines Law
he needs to reconstruct his income and expense and file the return, indicating on each return that he used reconstructive methods
Answer Applies to: Florida
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Florida
Replied: 7/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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