I need to file my Federal taxes for '03,'04,'05 along with '06. How do I do this?

Question

I never filed my 2003, 2004, and 2005 tax return. I owed about $200 each for '03 and '04, and I think my refund for '05 would cover the previous 2 years' debt. I will have a large refund for '06. How do I handle this situation?

Answer 1

File each year separately starting with the 2003 and work forward, send payment with the returns to stop the failure to pay penalty. Previous year returns must be mailed in, Only the current year can be e filed. The IRS will send you a bill for the interest and penalties that you owe on each year separately.
If you need the forms for the previous years go to the IRS website
http://www.irs.gov/formspubs/article/0,,id=98339,00.html

If you need the income information that was reported to the IRS call 1-800-829-1040 they can provide a transcript of this information in 7 to 10 days or by fax if you have access to a fax machine.

Do Not Mail all of the returns in one envelope, mail each return Separately...

Answer 2

You'll have to file those returns separately for each year. There will be penalties and interest due for the years where tax is due, so the amounts for 03 and 04 could easily be doubled by now. There won't be any penalties due for any year where you are due a refund.

If you file those old returns first and don't pay with the return, the IRS will send you a bill. Any taxes due and refunds owed will offset and you'll either have refund or bill due depending upon the numbers. You could file those and wait a few weeks and then file your 2006 return and let the IRS sort the whole thing out. If there is a debt, they WILL take it off the top of any refunds so if you time it right you should be able to clear the whole thing without having to pull out your checkbook, assuming that you have enough coming back in refunds to cover the outstanding tax liability.

The proper way to do it would be to file the returns and calculate and pay the taxes, penalties and interest due with the return. That will stop the clock immediately on any further penalties and interest and minimize your total costs.

Alternatively, prepare all four returns and put them each in clearly labeled sealed envelopes. Put the four envelopes in a larger envelope for mailing and include a letter explaining what you are doing. With a bit of luck, they'll process the returns in order and adjust your net refund accordingly.

Answer 3

each return is filed separately. You will owe more than the $200 for each year because you will be charged interest and penalties. They will take any refund out of a prior tax liability.

GET THIS DONE ASAP!!! It won't go away.

Answer 4

i'm often like fairly busy on weekends and putting out with associates yet i have not were given a lot plans for immediately besides the undeniable fact that i'd bypass to a football recreation with some associates later considering all of our guyfriends play football:] And thats about it Todays highly chilllll

Answer 5

go to Jackson Hewitt and they can go back to those previous years for you and tack each year's cost onto the current years fees. Plus, they, on average, get back $400 more on each return, according to a statement that the IRS made in the begining of the year.