How detailed the financial statement has to be for IRS? This is in conjuction with old tax returns and payments.
2007-01-16 12:29:02 · 3 answers · asked by mnk6 3 in Business & Finance ➔ Taxes ➔ United States
Generally, you will need to file Form 433-A, Collection Information Statement for Wage Earners and Self-Employed Individuals,
that lists all your assets and liabilities so the IRS can see your financial background.
The IRS generally don't ask for financial statements.
BTW.... ONLY CPA's can issue financial statements so you should also seek assistance with a CPA about this matter regarding any old tax issues.
2007-01-17 18:02:11 · answer #1 · answered by MrMojo1 5 · 0⤊ 0⤋
You do not need to pay for professional help unless you become overwhelmed. The IRS has a financial form and you need to plug in everything they ask for. If you are doing an offer in compromise IRS is required to help you with the process. When dealing with IRS and anyone is rude, unhelpful, etc demand to speak to their supervisor, write congressman if necessary. Keep noptes of the gist of IRS conversations, keep them with your tax records. good luck.
2007-01-16 22:57:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Pretty much everything you can give. If this is an offer in compromise, the ability to pay will be a defining factor. The IRS will be looking at your net worth and the possibility of future income.
2007-01-16 20:39:14 · answer #3 · answered by lotsof? 1 · 2⤊ 0⤋
Pretty much if you are being asked for this, YOU NEED A GOOD TAX ADVISOR, like yesterday.
Tax Specialist
2007-01-16 20:42:55 · answer #4 · answered by WealthBuilder 4 · 1⤊ 2⤋