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Filing Late Back Personal Taxes

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texas2007

Junior Member
TEXAS:

If a person where in need of filing back tax forms for 10years and that person has not recieved any notice from the IRS.
Is it better to file all at one time?
Or can one submit 2006 now and then continue to work on back years?
Or will sending in the first one alert the IRS and shorten the timeline to review previous years?

Thank you.
 


abezon

Senior Member
The timeline to review previous years is 3 years from the date you file the return. In other words, it ain't even started yet.

If you are getting refunds, then file the 2004-2006 returns ASAP. Prior tax years are closed & any refunds are lost.

If you're going to owe, get all returns filed as fast as you can, but try to start with the oldest returns. If you have a refund for 2000, the IRS won't send it to you, but you *might* be able to get some credit for it by 'electing' to apply the refund to the 2001 tax liability on your 1040. No guarantees it will work, but it might help. I did something like that once with an open tax year & saved my client underpayment penalties galore.
 

texas2007

Junior Member
Thank you for the quick reply.

Understood. So I should start with the last 3 years - which I do believe I will get $ back.
Do I need to go all the way back for all years unfiled? 1998 might be tough to have all of my w2 and such.

I will filing 1040Ez -

Should I hire a CPA or send them in and see what the IRS says and then hire a CPA?

Thanks again.
 

LdiJ

Senior Member
Thank you for the quick reply.

Understood. So I should start with the last 3 years - which I do believe I will get $ back.
Do I need to go all the way back for all years unfiled? 1998 might be tough to have all of my w2 and such.

I will filing 1040Ez -

Should I hire a CPA or send them in and see what the IRS says and then hire a CPA?

Thanks again.
I actually disagree with the previous advice. I think that you need to get all of the returns at least prepared so that you know where you stand....before actually filing anything with the IRS. Most likely that means that you are going to need the help of a professional.
 

efflandt

Senior Member
If you had a single job at the time that issued W-2's, and you had not altered the default 1 withholding exemption with a W-4 form, and did not have significant other income, you may have been due refunds, which is why you have not been contacted. If they owe you money (refund), they don't care if you ever file, they just keep the money.

I agree with LdiJ that you should at least prepare any returns you can, just so you know where you stand. But if all were due refunds, you can only late file and collect it for 3 years from normal due date. So any refunds from 2003 or earlier are lost forever (except possibly if they offset tax due, per abezon).
 

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