Monday, March 30, 2015

Suggestions For Filing Back Taxes

Straight from an IRS agent on Reddit.com/r/taxes

"IRS employee here:
File the 2011 - 2013 returns as soon as possible, or bring them to your local Taxpayer Assistance Center[1] .
If you mail them together (in separate envelopes) there's no guarantee they will be processed in sequence, meaning choosing to credit-elect your 2011 overpayment to tax year 2012 won't work if 2012 is processed first.
For all past-due returns, please be sure they all show your current address. Each return must be signed and dated, and be sure your wage and income documents that show federal withholding are attached to their respective returns.
Each paper return should take about eight weeks to process. Assuming all three paper returns are complete and correct, you should, at minimum, receive the first balance due notice for 2013 after that time.
Once you have the 2013 notice, that would be an excellent time to e-file your 2014 return. Triple check your refund direct deposit information before you transmit the return. Three weeks after you file 2014, you should receive your refund, less the remaining balance due for 2013, and a CP 049 notice explaining the offset.
At that point I would recommend you call IRS customer service at 1-800-829-0922 M - F 7am - 7pm, speak with a representative, and request a First Time penalty abatement for tax year 2013. If you filed and paid 2010 timely, it would be very likely you would qualify for the abatement of the Failure To File and Failure To Pay penalties you will be charged for 2013.
Thank you for reading."

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