I haven't paid this debt yet. It is now 2 years old. What are the chances of my being audited? What's the best way to resolve this?
2007-11-30 06:17:04 · 10 answers · asked by speakaholic 2 in Business & Finance ➔ Taxes ➔ United States
Phone up your local IRS office and arrange to meet with someone.
2007-11-30 06:20:56 · answer #1 · answered by $Sun King$ 7 · 0⤊ 3⤋
Your chances of being audited because of this are zero. You just have an outstanding tax debt. Unless you have received a notice that IRS intends to levy to collect what is due, you should just send in a check for what you can pay with a copy of the latest bill you received. If you are going to have a refund due on your 2007 tax return, it will be applied to what you owe. You should send it in as soon as possible because the refund will be credited to your unpaid account as of the date the return is processed or April 15, whichever is earlier. An early posting date will save you some late payment penalty and interest.
2007-11-30 07:21:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
When someone "forgets" to include a W-2 form on their tax return, about 18 months later, the IRS will send them a mismatch letter (aka CP2000). The letter outlines the impact of the W-2 on the tax year and all the taxpayer has to do is AGREE to the change. The 1040X is not required at this point.
Once the debt is assessed (and it will be eventually even if the TP ignores the letter), the taxpayer should start making payments. If unpaid at tax time, the IRS will offset current refunds.
2007-11-30 08:37:59 · answer #3 · answered by Anonymous · 3⤊ 0⤋
This probably won't trigger an audit, but there are no guarantees. My suggestion is to file a form 1040X, which is an amended return of income. You can download the form from www.irs.gov.
You may have a small penalty and interest but you will sleep better at night.
2007-11-30 07:18:31 · answer #4 · answered by jwishz 7 · 1⤊ 0⤋
Contact the IRS and negotiate a payment plan. Now you have more interest to pay plus possible penalties and fines. Quick dodging the IRS and start settling up with them, you are only making your situation worst. The IRS will get their money even if they have to seize your property to do so.
2007-11-30 13:26:17 · answer #5 · answered by Gary 5 · 0⤊ 0⤋
You get W-2's out of your enterprise. He could touch the school district the place he labored, and ask them for duplicates. the outcomes of not submitting a tax return count number on regardless of if he replace into meant to record one or not. If he purely labored for 2 months and had no different earnings, he probable wasn't required to record. inspect the IRS internet site; it explains who has to record a return.
2016-10-09 23:10:53 · answer #6 · answered by harren 4 · 0⤊ 0⤋
Just oweing money doesn't trigger an audit but you should make arrangements to pay it off.
For an amount this small, the IRS will accept an installment agreement. Enter in to one and stick to it.
2007-11-30 06:24:43 · answer #7 · answered by Wayne Z 7 · 4⤊ 0⤋
Give them a call and make arrangements to pay it. All at once or on a payment plan, but do it now.
It only hurts you if you delay and don't pay because they keep adding on interest and late fees, and guess what, the IRS doesn't go away.
cheers.
2007-11-30 06:28:14 · answer #8 · answered by Perplexed 5 · 1⤊ 0⤋
If you owe them, they will catch up to you. It is best to do an amendment now, and arrange for a payback; they are willing to work with you. And if you are receiving a refund for this tax year, that will help pay it off.
2007-11-30 06:21:39 · answer #9 · answered by Country Boy 5 · 2⤊ 2⤋
Join the club. My boyfriend is in the same boat. Usually you end up getting audited if you make significant changes on your taxes. If you keep it consistent you are less likely to get audited.
2007-11-30 06:24:49 · answer #10 · answered by bonstermonster20 6 · 0⤊ 3⤋