Read all you need to know about taxes by former IRS Agent & Teaching Instructor Michael Sullivan such as dealing with the IRS, or how to find your old tax returns.
The biggest issues that the average taxpayer is having in today's economy are dealing with unfiled tax returns and back-tax debt.
So what do you do if this is YOU.
Acquiring Those Old Tax Returns
As tax season approaches, you may be in need of past returns to do this year's taxes. Here is a practical guide on how to do just that.
Taxpayers who didn’t save a copy of their prior year’s tax return have a few options to get the information. Individuals should generally keep copies of their tax returns and any documents for at least three years after they file.
What to do if You Get an IRS Audit Letter in the Mail
A particular nasty gram that the IRS sends out to millions of taxpayers is under the auspices of its “Matching Program.” This means that when a taxpayer earns income, the issuing party will provide them with an IRS form. This may include a Form W2, Form 1099-MISC, Form 1099-DIV, Form 1099-INT, etc.
The key thing to remember is that not only does the taxpayer receive this form, but so does the IRS. Well, at some point in time, the IRS runs “checks” to make sure that the income reported on these forms “matches” what is reported on the tax return.