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| *The Commerce Journal>>>United States Taxes |
I haven't filed taxes in 4 years, what do I need to do to "get right" with the IRS? |
I was an owner operator truck driver. Payed on a 1099 form. I have moved twice since then and some of my paperwork got lost an ruined. I am now a company paid driver and I want to clear this up befor I get in trouble. call an H&R Block office. Ask to speak with a Tax Advisor. Check to see that the person you are talking to has been doing the job for at least 5 years. Then make an appointment to go in and have all those years done now. Soome years will be ineligible for any refund you might be due, but you'll have to pay if you owe. The penalties for not filing are higher than the penalties for not paying, so the sooner you file, the better off you're going to be. File your taxes. Hire an attorney Go to a tax preparer or accountant and have them file the appropriate forms and paperwork. And good for you in wanting to fix your mistake. You'll be better for it in the long run and won't have to pay near what you may have had you just waited for them to find you. Good luck! Ugmo. Get whatever paperwork you have as an independent owner-operator truck driver. Estimate the rest of your income for those years, Then you have to deduct your expenses to arrive at the net income, Have the tax figured out and make arrangements with the IRS for a payment schedule. Do plenty of work on those figures before you contact the IRS because you may have a considerable liability. When searching for a preparer, tell them you were owner-operator and consider enrolled agents (people who have passed a tax-oriented licensing test). If you have a copy of the last return you filed take it along when you have the delinquent returns prepared. This will provide a good idea of what your profit margin is. Get on the ball now to get things done in January because when Feb 1 rolls around preparers are going to be working 25 hours a day on 2007 returns. You must file your 2004 return by next April 15 or you will not get social security credit for your earnings but will still owe the self-employment tax. You will owe SE tax for 2003 but will get no benefit from it. You'll have to track down the 1099 info. If you still have your own records, that will be enough - otherwise see if the companies can give you copies - if you can't get the copies that way, call the IRS and ask for copies. Then you'll need to file the returns. If you owe for those years, you'll be charged penalties and interest. Don't panic, be polite and calm. Get an attorney to help make an offer to pay. They have cleaned up their act considerably since the eighties and seem to recognize there are limits to how hard they can push the taxpayers so now it is our turn to tone it down and try to make the system work. I speak from experience here. My wife and I had a small business that went under. In the process we managed to wind up shorting the IRS a considerable sum of money. So far with the exception of one officer, they have been quite restrained and polite and we have been trying to pay them what we owe, although it looks like they may be willing to call it good at less than that, wonder of wonders. In other words, keep'm holstered. Things have gotten better. I still support Ron Paul and his effort to abolish the IRS, not because they are pushing us into revolution but because the system has become unworkable. Even if you file with the best advice and intentions, the odds you actually are paying what you owe are very slim, because the system is simply too complex for any one to understand, even officers of the IRS. Its the accounting equivalent of solving the ten simultaneous equations Einstein and the other physicists are playing with. Go t0 the IRS and tell them you want to go to jail. Because you will anyway. |
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Assuming the $5K was not from self-employment, you'll get everything back that was withheld for income tax. ...January 1 if you file by mail - January for efile 14 for most returns, Feb 11 for people using one of the forms that the IRS isn't ready for due to the late AMT changes made by Congress. ...Yes. There are ways around it though. Consult a financial advisor, they ''know'' money (that is afterall what they do.) ...Not sure about Liberty, but Block pays you based on the number of returns you did, the number of years you've worked, a certification level amount for training you've accomplished, and th... Never heard of it, but sounds like a textbook scam to me. Never provide your ss# or bank account # to anyone without being sure who it is. ...You can go to taxact.com and sign up online. This is inexpensive and you get your money back quickly. But you can also preview what you will get back before you send it. I have already done mine... Yes the 401K is income, but it's NOT currently earned income, so it will NOT increase your EIC. ...The only time you would change it on future tax forms would be to change it to a social security number if your wife decides to apply for and get a green card or becomes a citizen and gets a new so... |
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