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Many people are living with the uncertainties of having unfiled tax returns.
What is going to happen? What will the IRS do? Should I file? Hope much trouble am I in? Will I go to jail? This video talks about how the IRS looks at a person who hasn’t filed a tax return. In the video Todd Whalen will discuss in general how the IRS views different levels of non-filing. The longer the number of unfiled years as well as how much money you owe, all make a difference in how the IRS views you. Todd is a Certified Public Accountant, a Certified Tax Resolution Specialist, is licensed as a federally Enrolled Agent, and is licensed in all districts of the United States Tax Court. He has 35 years of professional experience, and claims that every one of those white whiskers was earned by resolving cases before the IRS. Watch the video to learn more. You can also click the link below for additional information you need to understand if you haven’t filed in a while.
The video above focuses on what level of trouble do you fall into. This video is an overview of what you need to know if you haven't filed taxes in a few years. It's less about the degree of trouble, and more about, in general, what you need to know if you have unfiled returns. This is more informative about what you should know.
The other two videos are summarized versions that give an overview of the IRS policies of unfiled returns. This video is a 40 minute DEEP DIVE into how to get back into the system and what you need to know if you have unfiled returns. This isn't for everyone, but for those who really need to know, Todd gives the complete truth and what to do to get straight. Todd has 35 years of professional experience and has served as an expert for criminal attorneys in cases that have taken a criminal turn with the IRS. He has served in cases where the IRS arrested non-filers at gunpoint. In this video Todd talks about what his clients went through when they showed up with guyns and badges. Non-filing is a big deal to the IRS.
Transcripts
A lot of things can happen if you don’t file. One of those things is that the IRS can file returns FOR YOU! These are referred to as SFRs (Substitute for Returns). In this return, the IRS creates a worst case scenario. They try to get the tax as high as possible and then send a letter stating that if you don’t like it, now is the time to act. If you don’t get that letter, or don’t file and appeal to that letter, then the balance becomes legally due. MOST of the time, these returns are very wrong, and you owe much more than you should. This is exasperated by the penalties and interest that they take on! In many cases, the person doesn’t know that the IRS is doing this. Sometimes the letter is lost in the mail. Sometimes the mail simply hasn’t been opened. But most of the time it’s because the person moved. f you move, the IRS will not honor a postal change of address. They keep the old address until you either file a new tax return or file a form with the IRS (Form 8822). I’ve yet to see a person file a form 8822 if they haven’t filed tax returns, but it’s possible to let the IRS know where you are hiding if you haven’t filed. lol. So, what happens if you don’t get this notice? The IRS files the return for you, and then commences collections. The collection notices go to the same address that the prior letter did, so most people don’t get that either. They don’t know about this tax or balance due until AFTER the IRS levies their bank account and garnishes their wages. It becomes catastrophic real fast!
But you can know before it’s too late. This information, and a lot more is found in the IRS transcripts. You will be surprised by what you can find out in the transcripts. Click the button below to learn more.
Find out what's on your transcripts
Check out our competitors, this is what the IRS states about them.
This is right off the IRS’s website. Be careful who you choose! The following is copied word for word off the IRS website. It’s an excerpt from the IRS “dirty dozen” list of what the IRS is cracking down on. They are starting to investigate these unscrupulous businesses criminally. Beware!
"Taxpayers need to be cautious with aggressive marketing around the Offer in Compromise program that can mislead taxpayers,” said IRS Commissioner Danny Werfel. “These mills try to pull in steep fees while raising false expectations and exploiting vulnerable individuals with promises that tax debt can magically disappear.”
“The program is legitimate, but it’s not for everyone,” Werfel added. “The IRS wants to help taxpayers who qualify for this program, but there are very specific requirements for people to qualify. A good first step is for taxpayers to take a few minutes and explore our free resources on IRS.gov. They can find out if they might qualify for this program – and at the same time avoid paying someone a hefty fee.”
OIC mills are the focus of the fifth news release in the Dirty Dozen series. Started in 2002, the IRS' annual Dirty Dozen campaign lists 12 scams and schemes that put taxpayers and the tax professional community at risk of losing money, personal information, data and more. While the Dirty Dozen is not a legal document or a formal listing of agency enforcement priorities, the education effort is designed to raise awareness and protect taxpayers and tax pros from common tax scams and schemes.
Beware of Offer in Compromise mills
An OIC is a legitimate IRS program that allows qualifying taxpayers to work with the IRS to settle a tax debt for less than the full amount owed. It is an option for those who may be unable to pay their full tax liability, or if doing so creates a financial hardship. In determining eligibility, the IRS considers the taxpayer’s unique situation. The OIC agreement occurs directly between the taxpayer and the IRS.
Taxpayers, however, should be cautious of OIC mills, which make exaggerated claims through radio and TV ads about settling tax debts inexpensively. In reality, these mills often charge excessive fees, and taxpayers end up paying for a service they could have obtained directly from the IRS.”
We have a 35-year-old spotless record in helping people solve thier tax problems. Let the buyer beware, most people scammed by these companies don’t get a refund!”
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