We have been approached frequently with requests to reconcile past records and file past-due tax returns. Even if you have lost your W2s, 1099s, or other business and personal records due to the passage of time, our team will assist in sorting out your records. There are several methods of obtaining past information from the IRS, such as forms requesting information from prior W2s and 1099s submitted by your employers and account transcripts detailing balances to the IRS. The process is simpler than one would expect and our team will guide you through obtaining the necessary materials to straighten out and file your prior-year taxes without missing details that may lower your tax obligation.
Past-due returns incur (at least) two types of penalties: failure to file and failure to pay. It is important to act as early as possible to begin settling any dues to the IRS. We can help estimate potential failure to file and failure to pay penalties that are incurred by clients who have failed to file past years’ returns and can help in getting those returns filed properly.