I have not filed taxes for last year (no income), and i think i also have another year maybe 3-4 years ago..?

Question

I have not filed taxes for last year (no income), and i think i also have another year maybe 3-4 years ago which i didn't file taxes.

I would like to "catch up" as i am about to start a business and dont want this over my head.

1) for the year that i didn't file taxes a few years back, i dont have any of my forms, in fact, i dont recall where i was working. Can the IRS get me information on my income for that year so i can file taxes ?

2) for last year which i made no income - am i in trouble?

Answer 1

For a year that you didn't file when you should have, the IRS can provide copies of items such as W-2's. Note that if it was 3-4 years ago and you haven't heard from them, you were probably due a refund, which is very possibly too late to collect.

As to last year, if you didn't have any income, you were not required to file, so no problem.....

Answer 2

possibly you probably did and doubtless you probably did no longer. you're taxed on the income from inventory sales. No income = no tax. sell at a loss and you're able to use that to offset different inventory features and then a number of the relax loss (as much as $3,000 in keeping with 3 hundred and sixty 5 days) against different income. Any unused losses then carry forward to years yet to come the place the approach repeats. inventory sales are reported on time table D. You document the acquisition and sale dates, your foundation (what you paid plus any commissions) and the internet proceeds from the sale. jiffy era features (one 3 hundred and sixty 5 days or much less) are taxed as common income. long term era features (over one 3 hundred and sixty 5 days) are taxed at no extra beneficial than 15%. without ALL of that suggestion from each and every transaction there is no thank you to assert in case you have a concern or no longer. usually the IRS will allow you to pay a super debt over the years, often a minimum of 5 years yet longer charge words are accessible if mandatory. outcomes and pastime would be due on the unpaid stability yet at the instant those are plenty below very own loan costs so the hit isn't all that intense.

Answer 3

Call the IRS directly:

Telephone Assistance for Individuals:
Toll-Free, 1-800-829-1040
Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).