Need help with your back taxes? We answer your questions. How many years back can I file my taxes? If I don’t file back taxes, how long before I get my current refund? How many years can you file taxes that are past due?
Have you considered getting help with filing your taxes that are past their due date? There is a lot of emotion and time invested in filing taxes each year. Getting behind on your taxes can be stressful.
You must seek help from the experts before you make any long-term decisions regarding your taxes. I will answer the important questions you have regarding what you do when you need to file your back taxes and how it may impact your current refund.
The very first step to filing taxes from years prior is finding all of the appropriate paperwork. If you aren’t entirely sure what documents you’ll need, contact your CPA to go through the list of official tax documents that you’ll need for this filing.
Whether you are an individual, a small business of 5 employees, or even the sole proprietor whose contracts work out, you’ll need to have an experienced and trustworthy CPA. That is why it’s crucial to work with a CPA who has a working knowledge of how the government handles taxes that have gotten behind. The local government level is essential to know about, as well as the expectations from the IRS.
You can’t execute without having a plan in place to file. That means after you get all of your documents in order, you need to go back through them and make sure that all documents correspond to the appropriate year for which you need to file. When you cannot find specific documents, a good firm can assist you in getting these in a timely manner. These could include everything from:
The next step of bringing your plan of action together is to download any forms from the previous year’s filings. A professional firm can request a summary of the previous years and transcripts.
You may also be able to download other forms that were filled out with signatures. Always make sure that city and state tax forms are also accounted for if you must pay property taxes and other expenses to the city or state.
Once you have everything you need, it’s time to prepare. Fill everything out that is required, and if you have receipts to help you account for sales or expenses, be sure to include those as well. Once you have the proper paperwork, it doesn’t have to be stressful.
Organizing everything before you prepare your taxes will make the process go much more manageable. There are times when liens can be placed on a property, but not to worry. The purpose of that is to ensure that they get the money that they are owed. Once the taxes have been paid, the lien will be released.
Once you have prepared everything, please submit it to the IRS and then wait. If they need anything else, they will let you know! Using a trustworthy CPA can make a huge difference, and it can help you approach your taxes with less stress.