subject: Learn These Tricks To Filing Missing Tax Returns. [print this page] A few years ago, Will from Iowa lost his business records tax records in a flood and has not filed them since. His cabinetmaking business had finally gotten busy, and he just had not found the time to worry about it since. Thankfully, the IRS had not seemed to notice, which pushed the unfiled tax return problem further into the back of Will's mind.
Then, almost six months later, a notice from the IRS came from the mail. Will saw the letter and left it on the kitchen table with plans to take care of it in a while. However, his spouse was nagging him about finishing the garage and then a new customer needed her bathroom finished immediately, and soon, the letter had been buried under so many papers that it had been forgotten about, Will had other things to accomplish besides think about about his unfiled tax returns.
A number of months went by, and business was still going strong. Certified letters from the IRS began arriving again, but neither Will nor his spouse had time to take a look at them. At one point, Will hired a bookkeeper to look after things for him, but then did not have time to keep track of the developments. The certified correspondence resumed and continued to come, but Will didn't know why this was happening since he had believed to have taken care of the nagging problem.
Finally, Will picked up a notice one Saturday morning to determine what was going on. He was shocked to find out of the fact that IRS said he now owed over $600,000 in taxes. He reread the notice several more times, but each time it said the same thing. Feeling sad, confused, and humiliated, Will hid the letter upstairs, hoping that his wife wouldn't find it before he had an opportunity to handle it it.
Since Will had repetitively failed to file his tax returns, the IRS filed and prepared his tax returns and asserted he owed more than he actually did. In spite of this, Will still had a chance. With a assistance help, his unfiled tax returns could be officially prepared by a genuine tax attorney and his missing books and records would be able to be reconstructed. This made it possible to greatly reduce his total taxes owed the IRS and he might even be able to negotiate his tax debt because of his limited capacity to pay.
