Missing Tax Returns? Here's What You Do. . .

. . .FILE THEM!

Yes, it's that simple. Even if you can't pay them you need to file them.

Why?

1. Because Willful Failure to File a tax return is technically a federal tax crime punishable up to one year in prison and a $25,000 fine for each year not filed.

2. And the IRS will not hear word one about any type of resolution to your tax debt if there are any missing returns.

So get your records together and go see your friendly neighborhood tax preparer. If you need to file them on your own then you can get previous year's forms at the IRS website.

But I don't have my records for that far back. Now what?

If that's the case then you need to prepare and file a "best-efforts" return. Basically, you need to guess at your deductions. You can get the actual income reported for you on W2s/1099s from the IRS directly. These are called "Income Transcripts." Just call 1-800-829-1040 and request the income transcripts for the years you are missing.

If you need to prepare a best-efforts return, I'd recommend hiring a seasoned tax preparer for the job. And don't hire someone from one of those chain preparation companies (you know who I mean). They do not specialize in preparing best-efforts returns.

Once all of the returns are in you can begin the process of resolving it. I know it's hard but you absolutely NEED to get those missing returns in. If you need help let me know. I can walk you through it if necessary.

Good luck and take care.