2006-09-28 08:18:34 · 14 answers · asked by dbrifles3 1 in Business & Finance ➔ Taxes ➔ United States
1) get his W-2, 1099 together and set it aside by the year
2) If he owns a home get the mortgage interest, property tax receipt and receipt of donation to non profit agency and set it aside by the year
3) Now here is the question, do he want to do his own return or do he want to get a professional to do his tax return for him. If he want to try to do his own tax then go to the IRS web sit and down load the tax return for 2005 to 2001 at http://www.irs.gov/formspubs/index.html?portlet=3
4) Note that out of 50 states 41 has some kind of state income tax. he may have to file state income tax too.
5) Is he self employed or retired, Reason why it is important is that if he work or a company, he has tax withheld for him so he may not owed too much. If he is self employed and should be making estimated tax payment most likely he fail to do that and will be fine an interest billing.
2006-09-28 09:21:27 · answer #1 · answered by Kenshin 5 · 0⤊ 0⤋
If he's like the usually happening taxpayer operating a job concern to withholding and the IRS has no longer been in contact with him yet, maximum likely he's the King of the Tax Idiots and has lost out on funds that develop into owed to HIM through no longer submitting tax returns. If he's happy with that (it takes all varieties!) then that's no longer your concern. the reality is that maximum taxpayers overpay their tax legal duty and are owed funds through the IRS. you in elementary words have 3 years from the submitting ultimate date to gather that refund. bypass over that ultimate date and the IRS will thankfully keep you funds. once you do not record, the IRS seems at your account depending upon the files that they have got accessible. If no tax appears due they drop the challenge and flow on. Its then as a lot because the TAXPAYER to record their go back and declare any refund due. on the different hand if apparently like you would possibly want to owe some tax, the IRS will deliver you a observe, regularly about 18 to 24 months after the submitting ultimate date, stressful the tax due OR that you record the lacking go back to ideal your tax legal duty. therefore in case your pal hasn't heard some thing from the IRS in over 5 years of no longer submitting the most likely concern is that HE has lost refund funds that he develop into entitled to and would not truly owe the IRS a dime.
2016-12-06 08:05:20 · answer #2 · answered by ? 4 · 0⤊ 0⤋
* The IRS and State Collection Divisions can and will levy bank accounts, garnish wages and seize assets.
* Just because the IRS letters stopped showing up in your mailbox, does not mean that you’re off the hook.
* The problem is not going to go away on its own. Letting time pass without taking action will only make it worse.
* Dealing with a tax issue can be overwhelming. You don’t have to go through it alone. Let the experts at Omni Financial guide you through the process so you can go back to living your life with complete confidence.
2006-09-28 08:32:22 · answer #3 · answered by confusedpatricia 2 · 1⤊ 0⤋
You need to file a tax return for each year. Send them to IRS in seperate envelopes.
They will start sending "statements" of what they have figured out. In about 2 months, you will get a final bill-for the total of all of the years(they will make adjustments).
When it is all said and done, inside your final statement are two documents. One says you will pay it all now. The other says you want to make a payment arrangement.
Whatever arrangement you make, you have to stick to it.
2006-09-28 08:30:31 · answer #4 · answered by educated guess 5 · 1⤊ 0⤋
He should file as soon as possible as the money he owes is collecting interest.Sometimes you can make a deal with I.R.S and have the amount that he owes reduced.But for his sake do it now,they are not very forgiving.
2006-09-28 08:25:15 · answer #5 · answered by Anonymous · 3⤊ 0⤋
Bend over and kiss his wallet goodbye. Not filing doesn't make you stop owing. And it's just going to get worse for each month that goes by.
2006-09-28 14:35:48 · answer #6 · answered by misslabeled 7 · 0⤊ 0⤋
If he is illegal alien he only has to pay tax on 3 of the 5 years. No I am not kidding.
2006-09-28 12:36:51 · answer #7 · answered by johnnylakis 4 · 0⤊ 0⤋
file for taxes, and then set up a payment plan with the IRS if he owes anything.
2006-09-28 08:25:56 · answer #8 · answered by Sky 5 · 1⤊ 0⤋
He needs professional help. Contact an Enrolled Agent or CPA with experience in representation.
2006-09-28 09:22:22 · answer #9 · answered by daoco 4 · 0⤊ 0⤋
It is not a crime to owe the IRS money. It is a crime not to file.
2006-09-28 08:27:43 · answer #10 · answered by WJVV 4 · 1⤊ 0⤋